The bitcoin exchange rate went into a nosedive by 10%, the expert cited three reasons

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The bitcoin exchange rate fell by 10% and updated the annual minimum. The capitalization of the leading cryptocurrency has dropped below $100 billion, and the market as a whole is now only $185 billion. Also of importance is the reshuffle of the second and third places of the rating Coinmarketcap is steadily holding the second place lost its Ethereum, Ripple, however, the gap between them is small, only $200 thousand, so static this result can not be named.
Clear the cause of the current decline in bitcoin can not be called the news on BTC since September as a whole is neutral.
Sound various versions about when the fall of bitcoin prices with Bitcoin today hardforum Cash, but in my opinion, this scenario is far from the truth about the upcoming separation network Aldona on the forks of Bitcoin and Bitcoin ABC SV has been known for a long time, everything goes according to plan, any force majeure occurs.
It looks very strange such a strong influence of the secondary coin hard forks of Bitcoin (which is Bitcoin Cash) on a key coin that is not logical.
This can be compared to that if the tuning of one machine, after a year of its operation, some way would have a large impact on the conveyor, it is released.
In my opinion, the only reasons no, it was a combination of factors.
The first is too protracted consolidation, during which accumulated a large number of positions on both sides of the flat, and as a result, the breakout of the sideways movement and the triggering of stops on open positions resulted in a strengthening of downside momentum.
The second factor is the long wait for launch tools for institutional investors in the cryptocurrency market (platform Bakkt, Bitcoin ETF), which was actively discussed in the media and shaped the public strong confidence that the bitcoin will definitely grow, and soon and very strong.
But is it profitable growth with current institutional players? The answer is no. As for the functioning of the ETF funds, the big players need to buy huge amounts of bitcoins, so BTC will be used as the underlying security.
Logically, it is tempting to buy volume BTC as cheaply as possible. But who will sell cheap, especially waiting for the imminent growth of the asset? So, we need to sale it worked automatically. But this requires that work stops for open purchases (this will be on sale) those speculators who have taken a wait-and-see position in expectation of the imminent growth.
The third factor in the decline in the exchange rate of bitcoin – what is happening in the world – the global tendency of growing stress and turbulence in the financial markets. Investors have to “save” their core portfolios, which have suffered from the correction in the stock market of America, the fall of the oil market, the rising cost of servicing dollar-denominated borrowings.
A further goal BTC/USD, in my opinion, around $5000, so I expect another 10%, and in the near future. In case of breaking this level further, the goal BTC/USD is $3100.
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Olga Prokhorova,
Expert
“International Financial Center”