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Bitcoin below $8500, the market is in depression

by Alt Coins

Bitcoin continues to fall – in the morning on February 2, its rate on most of the currency exchange declined below $8500, the average price according to Coinmarketcap is $8367 at the time of publication. Thus, the bitcoin rate fell by almost 55% compared to the record value in December 2017. We wrote about this earlier Crypto market falls: bitcoin fell below $9500.

The drop occurs against a background of a number of negative news – reports of the intentions of a number of countries to deal with tight regulation of the turnover of crypto-currencies, the ban on advertising of crypto-currencies and ICO in Facebook and information about similar measures on the part of Google, as well as details on non-transparent activities in the Tether project, which is suspected in the release unsecured USDT tokens, which must nominally match the US dollar.

At the same time, a more significant drop is observed on the exchanges trading pairs against the Korean won and the Japanese yen, which is more likely to suggest a panic, which Asian investors give in just as quickly as the euphoria that pushed the bitcoin up a couple of months ago.

The fall also affects the rates of the remaining crypto-currencies – almost all of the top 100 cryptocurrencies show a decrease of 20% or more, and the reliable Ethereum results also showed a 25% decrease yesterday.

The total market capitalization of the Crypto-currency decreased below the level of 400 billion and was $394 billion at the time of publication. At the same time, it is worth noting that for the first time market capitalization reached 400 billion in early December 2017. Thus, we are talking about returning to the level just two months ago.

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