Bitcoin, Crypto currency, Blockchain

Roller coaster: Bitcoin, Ethereum Classic, EOS, and Ontology bleed – Possible reasons

The Downtrend of the last few weeks continues, and the market writes deeply in the red. Both Bitcoin and many Altcoins had to leave the springs and recorded in part double-digit price declines. The current market situation scared off a lot of newcomers and hopes to whopping profits burst.

The selling pressure has increased in the last 24 hours and the markets have fallen this year to the lowest level in the past. The total market capitalization is, at the time of writing (09:00) at just under 250 billion and thus reached the lowest level in the year 2018.

Where the actual reasons for the current development may not be eindeudig assigned, since it is probably a mixture of many complex variables of the Ecosystem.

First of all, a new study has demonstrated that Tether has been used to manipulate the market. Tether has through an independent Audit to certify that all of the Tether are actually covered by the appropriate amount of dollars in a Bank account. However, there was criticism, since the audit firm FSS, is not an accounting firm and the accounting principles generally accepted in the United States of America, so with this strong doubts.

Furthermore, the current market does not reflect prices, according to Charlie Lee, the current developments in the crypto market, so this is a price manipulation cannot be ruled out. VeChain and TRON before the Launch of your Mainnets and the courses a break.

In addition, regulatory frameworks in different countries of the world are also for unrest in the market. In the US government institutions like the SEC and the New York State Department of financial services, so many rules have adopted the crypto currency trading is choked in the louder sections. This has led to, among other things, that many companies moved abroad, and many U.S. citizens have prevented from participating freely in the market.

The Hack the stock market Bithumb also provided for a short moment of Shock, but this had only a small impact on the price of Bitcoin.

The price of Bitcoin is also on the lowest level this year and recorded a Kursrückang of – 7,09 per cent on 6.111, $ 54. The market capitalization is just under 104 billion dollars.
EOS need with a price decline of – at 13.67 percent, the largest loss within the Top 20 to accept and falls on to 8.41 dollars. With a market capital of $ 7.5 billion EOS currencies still occupies the 5th place in the Ranking of the largest Crypto.

Ethereum Classic also recorded a double-digit rate decrease of – 12,59 per cent on a price of 14,60 dollars. With 1,496 billion-Dollar market capitalization ETC space 17 of the largest crypto-currencies.

The “Shooting Star” of the last few months, Ontology is bleeding with a loss in the price of – 13.76 percent at a similar rate and falls to 5.10 dollars. By a market capitalization of close to 771 million dollars ONT secure space 21 of the largest crypto currencies in the world.

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