Mexico City.- Bitcoin closed down below $ 4,000 this Monday and extended its 2018 fall to reach the worst bear market.
The virtual currency devised for something more than a decade has fallen to 17.32 percent to $ 3 522 on Monday, which has led to a record decline from last December from nearly $ 20,000 to about 80 percent.
The second of the nine largest crypto-slots followed by Bloomberg in real time dropped to 21% in Moner.
The collapse of this year, which has risen from the rival currency, such as ether and XRP, has reached the same 93 percent drop in 2011 as compared to the previous historic peak and 84 percent in the period from 2013 to 2015. Dropped bag for cryptourcing based in Tokyo Goth.
With regard to the dollar, the damage this time is greater: the virtual currencies tracked by CoinMarketCap.com have lost more than $ 700 billion because the market peaked in January.
"There is an element of close shocks: there is nothing to suggest that the sale is over," said Craig Erlam, senior market analyst at Oanda's market in London.
"It was a market that largely encouraged the feeling of last year, and has since been completely destroyed."
While bullfighting betting required by institutional investors will stabilize prices, most of the large cash pool managers remain on the margins due to concerns regarding exchange security, market manipulation and regulatory risk.
Mass sales "tested the beliefs of some key players," said Ryan Rabaglia, OSL chief operating officer in Hong Kong, a crypto locksmith company.
"For this next offensive, we will need this institutional money to finally arrive. To provide this support and to help grow."
Erlam from Oanda is one of the strategists who claim that the operator trusts after the bitcoin dropped to $ 6,000 earlier this month. This level was a true token support throughout the year and would likely encourage traders to order a halt to loss just below that level.
Other technical measures point to more suffering coming.
The buy / sell pressure indicator DVAN is the best-selling and shows the strongest negative deviation from sales in May. In addition, the current bitcoin price is still below the trend line, indicating that the sales pressure will further expand, which could point to further losses.
"When the $ 6,000 level was broken, you had an element of stoppages that started to be eliminated, but there are several factors in the game," said Erlam. "There is a research, Bitcoin Cash group hit people's trust, volatility returned and institutional money did not go in. The next line in the arena seems to be $ 3,000."