Bitcoin exchange rate November 15 fell below $ 6000, the market panic
The island of stability of cryptocurrencies is still a wave of volatility, and it has led to a massive collapse of all the coins. At the peak, the market capitalisation fell by $30 billion In the last 24 hours, bitcoins (BTC) is losing nearly 11% and is currently trading around $5,650.
On the morning of 15 November, the second largest Bitcoin wallet in the world, which belongs to the exchange Binance, resulted in the movement of 109,234 BTC (is $618 million at current exchange rates). Given the devastating sale for the previous day, the news of the transaction for virtually all of the asset exchange, so even with a “cold” wallet, can reinforce the negative momentum. It is worth remembering how sharp was the reaction after the sale of bitcoin and BCH guarantor of the exchange Mt. Gox Kobayashi.
Threshold $6,000 defended by the bulls for several months, and resolute taking of this mark the reference cryptocurrency is a bad signal for the market. Altcoins have suffered even more: Ethereum (ETH) and the exchange rate of Bitcoin Cash (BCH) losing nearly 13%. It is noteworthy that the last days BCH attracted consumer demand because of the prospects of the division chain after hard forks the network. However, the fierce opposition of the two camps advocating for a different future project scared away speculators. It is highly likely that they started selling the BCH even before hard forks.
According to technical analysis, the next major stop may be the area of previous consolidation rates: but this long-term level near $3,500. This opinion is shared by well-known crypto-investor Barry Silbert. He believes what is happening now “the surrender of cryptocurrency“ because of the deep disappointment in the prospects of falling interest from traders and users.
At the same time, ambiguous and often negative attitude of the American regulator acts as an additional pressure. One of the triggers of the collapse in the market could be the way forward of the Commission on securities and exchange Commission (SEC) in the manufacture of which there are dozens of cases against crypto exchanges that can be charged with distribution of unregistered securities.
…Then a blow will have on a number of cryptocurrency and ICO projects.