Btc bloodbath

Bitcoin and its crypto cousins took an almighty fall today as record highs turned screens red across the board.
Table of contents

• Bitcoin Plunge Erases $ Billion In 24 Hours–Here’s How Long The ‘Bloodbath’ Could Last
• Bitcoin below $5,000 as bloodbath continues
• Bitcoin Extends Bear Market Plunge Amid Crypto Bloodbath
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Develop and improve products. List of Partners vendors. There is a bloodbath in cryptocurrency markets on fears of a crackdown by governments across the world.

Apart from Tether which has parity with the U. Stellar and Ripple were the biggest losers among the top 10 most-traded cryptocurrencies, as of this writing, down by The overall declines are not uniform as the chart below shows. Even with today's declines, three cryptocurrencies are still trading positive to their valuations last year.

The prospect of a crackdown by governments in China and South Korea, among the largest trading venues for cryptocurrencies, is being cited as the primary reason for declines in prices. South Korea had threatened to ban cryptocurrency trading last year but backtracked from its stance on Sunday. Yesterday was another story, however. After banning cryptocurrency exchanges in , China is cracking down on other venues for trading of digital currencies.

Gox, an exchange that crashed back in The spike brought in other, human investors resulting in a virtuous cycle that drove up prices through artificial demand. The exchange profited by pocketing the transaction fees. A similar situation exists today. There are 1, cryptocurrencies in the market today, and trading volumes, even for the largest cryptocurrencies, are susceptible to sharp spikes and dips.

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While multiple reasons are put forward as explanations for cryptocurrency price movement, none of the reasons is plausibly consistent. Bitcoin whales and automated bots are still in the game. More investors, especially institutional ones, will bring liquidity to bitcoin markets and stabilize its price. Investing in cryptocurrencies and other Initial Coin Offerings "ICOs" is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions.

Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns small amounts of bitcoin.

It is unclear whether he owns other bitcoin forks. This sales decline seems to injected fresh fears into the markets as many now believe the interest in cryptocurrencies is slowly fading and not be revived in short term. Technically too, Bitcoin has significantly breached the triangle formation in which it traded most of the year, creating a negative signal on the charts. What do you think is the main reason for this downpour?

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