Market Analyst Mati Greenspan assesses price drop

Krypto money prices continue to move downward with rates between 2 and 5 percent. Mati Greenspan, eToro’s Senior Technical Analyst, shares the reason for the decline in Bitcoin.

Could the MapleChange exchange have been attacked by hacking?

Since yesterday, the crypto money market is hurting because most of the crypto money is traded in the red area. In less than two hours, Bitcoin fell from $ 6.485 to $ 6.342. Krypto coins in the top 10 were lost between 2 and 6 percent.

So what is the reason for the fall in prices, in spite of the fact that there is nothing significant that could affect the market at the time of the fall? In this process, the Canadian Krypto money exchange MapleChange was attacked by hacking, but the trading volume of this stock is small. The stock market claims that nearly $ 6 million has lost all its funds, including Bitcoin, as a result of the hacking attack. However, this stock market is a small trading platform and it does not seem to affect prices.

Market Analyst Mati Greenspan assesses price drop

Mati Greenspan, senior market analyst at eToro, says there is nothing behind this decline after a thorough analysis. Greenspan says::

After a thorough review, we concluded today that 2.8% of the sales in Bitcoin are not based on anything! Let’s go a year ago, no one would talk about a move in Bitcoin less than 10%.

24 – hour price table of bitcoin-source: CoinMarketCap

Prices are already moving up with bitcoin trading at $ 6.349. At some point, it was $ 6,364. However, the daily trading volume rose to $ 4.2 billion, while the 24-hour loss remained at 2 percent as shown in the table above. Bitcoin is trading for $ 6.333, with a decline of 0.27% during the spelling process. The leading krypto currency currently has a market value of $ 109,8 billion.

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