The Crypto Money Market Has Been Lost For The Last Few Days
Why Does Crypto Currency Prices Fall?
Bitcoin, the largest cryptocurrency in the market - that is, the crypto-money product, fell 12.4% from CoinMarketCap during this period and is currently trading at about $ 6,442. In other coins, the situation is getting worse.
Ethereum'de loss 20.4 percent, 13 percent in Ripple, 20 percent in Bitcoin Cash and 22.3 percent in the EOS losses are very high.
We've seen Ethereum's instant collapse. It was a pretty bad example in terms of showing the risks of digital currencies. For Ethereum, the second largest crypto currency traded on the Crypto Money Market; These prices are the lowest levels of the year. Since August 2017, crypto currencies have never been priced so low.
Overall, the market value of all the combined crypto currencies now stands at $ 202.9 billion. However, the risk continues, and with the $ 190 billion low level this year, the threat is growing steadily.
Why Does Crypto Currency Prices Fall? What's Behind These Drops?
There are some possible reasons behind these hard falls. On Wednesday, Business Insider reported that Goldman Sachs was planning to hold a pending crypto trading table. The same is known as Goldman Sachs, one of the major banking institutions that have shown great interest to Bitcoin. Circle, one of the Bitcoin Startup Companies, provided financial support and expressed the idea of establishing a cryptographic trading desk since the end of 2017, although not officially.
While fear of the loss of institutions' interest in crypto coins is a sufficient reason to be careful; Crypto Money Traders are actually more concerned about the dangers lurking behind the Silk Road black market.
A Redditor recently reported 111,000 thousand bitcoins (more than $ 700 million) associated with the Silk Road, which is likely to be sold to securities on various internet exchanges.
What you mean by this, the huge amount of bitcoin transporting to make Wallet Shopping creates a serious sales pressure on traders and causes price fluctuations.
We have seen similar things in April that may be similar in what is happening now. This is the reason why the Bitcoin side is causing $ 7,951 to $ 6426 and the Ethereum side down to $ 592 to $ 226.
A large number of ventures successfully financed through ICOs make sales and this price is rapidly pulling down. In any case, the rise in the crypto money market, which started in August, could be expected to go down in some place. But it is as steep as declines in declines.