Bloody Sunday: why falling Bitcoin?

The stock market finally got a clear movement, reports NewsBTC. However, the new trend is formed again, not in favor of the bulls. Just a couple of hours disappeared about 15 billion total capitalization, and the Bitcoin price has fallen 6 percent.

The fall of the cryptocurrency associated with the expectation of closing

According to Coinmarketcap, at the time of writing, the total market capitalization recorded at around 320 billion dollars. For the past day, this figure dropped to $ 25 billion, and most of the money was drained in just two hours. 6: 45 PM UTC the price of Bitcoin plummeted to $ 300. Now the cryptocurrency is trading around 7250 dollars.

With the exchange rate of Bitcoin is correlated to the state of all the altcoins, so the price of the top 10 coins decreased on average by 10 percent. Suffered most of all IOTA, the cryptocurrency has lost almost 13 percent of its value over the past 24 hours. The following places among the losers is EOS and Cardano. Their value has decreased by 10 percent.

Price Ethereum fell to 565 dollars, is 6 percent decline from yesterday’s high. The air for a long time, went sideways, and now the lower line broken. Capitalization Ripple lost $ 1.5 billion, and the rate of bitcoin has fallen to 61 cents.

The reason for the fall of the stock market is not new controllers again come on the heels of the exchanges. Earlier in the Internet appeared rumors about the closure of several major shopping areas, including Coinbase. Under the scope of the Commission on trade in commodity futures of the USA has also been found Kraken and Bitstamp. Both exchanges appear in the investigation of price manipulation.

Korean CoinRail site suffered a hacker attack. According to Coinmarketcap, CoinRail is on 90-th place in terms of capitalization. Daily trading volume here hardly exceeds 2.6 million dollars.

From this falling market you can identify one useful conclusion – any support levels can be easily broken in a bear market. In this situation, you need to very carefully manage their assets.

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