Bitcoin (BTC) dropped below $ 6,000 for the first time in August and tested the lowest level in the last year again yesterday. Bitcoin lost 10 percent value in two hours yesterday. Sales in the crypto asset market extended until Thursday, and the leading digital currency retained its fourth consecutive loss and its annual low level.

Expert and analyst views on the decrease of bitcoin (BTC) price

Bitcoin (BTC) dropped below $ 6,000 for the first time in August and tested the lowest level in the last year again yesterday. Bitcoin lost 10 percent value in two hours yesterday. Sales in the crypto asset market extended until Thursday, and the leading digital currency retained its fourth consecutive loss and its annual low level.

Bitcoin and the market’s blood contamination

A single bitcoin fell by 2.6% since Wednesday to a level of us $ 5482.69. At the beginning of the session, bitcoin reached $ 5.408,08, the lowest level in more than a year. Bitcoin is trading at a level of 5.591 dollars, with a 5% decline during the spelling process.

According to CoinMarketCap data, the total value of all crypto currencies in the last 24 hours fell to $ 181 billion, the lowest one-year level, and more than $ 30 billion was lost on the market. Due to the pressure of sales, the Krypto money market has fallen below 200 billion dollars for the first time since October 14. Now the Krypto money market volume is $ 183,9 billion.

Expert and analyst views on the decrease of bitcoin (BTC) price

Traders blame a series of expert traders for a broad-based selling on price declines, while the reason for yesterday’s collapse is blacklisted. Donald Bullers, the North American representative of Elastos, says::

Price volatility crypto is not unusual in the money market. But Wednesday’s sharp price movements are important enough for industry players to stop and learn about their reasons. Bitcoin Cash’s upcoming hard forku has led to a period of uncertainty among Krypto investors. In addition, Krypto and the forecasters in traditional markets predicted a long bear market extending to 2019.

According to Brian Kelly, CEO and founder of btcm, this fall in prices is due to uncertainties related to Bitcoin Cash hard forward. Mati Greenspan, eToro’s senior market analyst, commented on the price drop:

Technically speaking, it is a possibility that ‘stop loss’ orders will automatically come into effect as bitcoin drops below $ 6,000. Another factor contributing to the price decline is the current decline in technology stocks that can also spread to the Krypto money markets.

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