This is called a difficult awakening for "crypto-enthusiasts". Here is what we could see this morning, around 9:30, on the CoinMarketCap site.
Bitcoin had lost nearly 25% of its value over the last 24 hours. And the price of most major "altcoins" fell even further, with losses ranging from 19 to 35%.
We remember that Bitcoin could not hold long the threshold of $ 20,000 - a threshold it could have exceeded last Sunday, the space of a few hours. At the time of writing this article, his course amounted to 13092 dollars (about 11050 euros).
There were significant differences between the platforms, with a price below $ 12,750 on Bitfinex, and prices over $ 15,500 on the two main Asian platforms in terms of volumes traded, bitFlyer and Bithumb:
While the price of Bitcoin has increased by more than 1,900% since the beginning of the year, this is the most significant correction phase in 2017 - far ahead of the fall we had witnessed at the end last November, when the BTC lost 17% of its value in less than 6 hours.
Futures contracts offered by the Chicago Mercantile Exchange, which allow institutional investors to speculate on Bitcoin, also recorded a sharp decline. They traded between $ 13,520 and $ 13,570, while their courses had exceeded $ 20,000 when they arrived on the night of Sunday to Monday.
Hard to say how far will Bitcoin go. Some felt that this drop would be directly related to these futures in the WEC.
@OriginalWorks
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I think BTC's liabilities are becoming more obvious each day. Fees off the charts, slow transactions, 100,000+ unconfirmed. The sooner the crypto space can somehow decouple the total market value from BTC and allow some of the more technically superior coins/token/platforms to flourish, the better off, and the more quickly this space develop without the Bitcoin War and the drama surrounding it.