Bitcoin, Crypto currency, Blockchain

Bitcoin reaches new low for the year at $5825 US Dollar

The first decentralized crypto currency in the world is still in a free fall and reached today, on Sunday, a new low for the year of $5825 US Dollar, has recovered since then, however, a little bit, and it is located on the cut-off at $6200 US dollars. The month of February recorded a sharp decline of around $8,000 to $6,000 to the US Dollar.

In front of only ten days, the researchers John Griffin and Amin Shams from the College of Texas at Austin’s Finance Department, published the results of their research, and said Tether, a US Dollar-linked crypto-currency, Bitcoin and other crypto currency prices are manipulated during the recent boom. There was a lot of speculation in the last 6 months, that Tether is really supported by anything, or if something is supported, it is reserved only in part, and no 1:1 US-Dollar reserves.

Currently, the price of Bitcoin has fallen since the beginning of the year to almost 57% and about 70% below the peak of $ 19.783,21, was reached in December 2017.

Coindesk-bpi-chart (1)

Other crypto-currencies from sliding further, at 24. June, the Ethereum-price is $435,68 US Dollar, Litecoin at $76,06 dollars and XRP at $0,456 US Dollar. The Price development of BTC is almost identical with the case of BTC in the year 2014, when it learned about his record high a 80% correction.

According to CCN, the price followed almost exactly the scenario that the crypto-currency researcher and Investor Willy Woo at the end of may. Woo said at the time that, thanks to the high volatility and low trading volume, the currency price loss a creeping up to $5,500 in the US Dollar could experience. Currently, many crypto-traders see a possible low price of $5,000 US dollars. As long as there are no further unexpected dramatic events, will not drop the price but probably under $5.000 US-Dollar brand.

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