In just 30 minutes, the bitcoin fell in price by $600 per night for Thursday, August 29. The average rate of BTC fell to $9642, the market capitalization of the top cryptocurrencies at the time of publishing this review was $172,626 billion.
Trader and analyst at the CNBC presented on Twitter under the name Big Cheds, drew attention to the aggravation of volatility, which caused the weakening of the asset.
$BTC #Bitcoin – lots of nastiness on the one hour
Some observers believed that the level of $10 000 is kind of an updated bottom for bitcoin, and below this level, the coin does not have to fall. However, BTC once again demonstrated the unpredictability of their behavior.
Analyst Brian Kelly early in the week allowed the option in which the coin will drop below $10,000.
In his opinion, the interest in cryptosphere weakens under the influence of a number of factors. First and foremost, this is due to increased administrative pressure on the industry and the transition of players to wait-and-see strategy.
However, at any time the market can return investors who are now betting on Fiat currency. In this case, bitcoin can not only obtain support at $9700-9900, but will resume growth.
All major altcoins today will also lose in price. The leaders of the fall from the top ten coins were the ether (ETH) and litecoin (LTC), depreciating by 8% to $171,56 and $66,31 respectively.
The cryptocurrency market capitalization fell to $249,883 billion, the index of dominance BTC accounting for 69.1%.