Mexico City Betsotin ended this week under $ 4,000 and extended its fall to 2018 to hit its worst bear market.
The virtual currency, formed just over ten years ago, fell to 17.32 percent to 3.2 thousand dollars, which dropped from almost 20 thousand tons to about 80 percent on Monday.
Another of the nine largest cryptographic creators, followed by Bloomberg in real time, dropped to 21% in Monroe.
The collapse of this year, driven by competing currencies such as ether and XRP, reaches the same 93% decline as it was in 2011 compared to its previous historic peak and 84% in 2013-2015 in Tokyo Mt. Gox cryptographic currency bag collapsed.
When it comes to bucks, the damage has been greater at this time: the virtual currencies tracked by CoinMarketCap.com have lost more than $ 700 billion since January's top.
"There is a near-shocking element: there's no indication that the sale is over," said senior market analyst at London Oand Securities Corrigan Erlham.
"It was a market driven mainly by the mood since last year and has since been completely destroyed."
While bulls suggest that demand from institutional investors will stabilize prices, most major cash handlers remain unchanged, given the concerns about exchange security, market manipulation and regulatory risks.
"The sale of the masses" examines the beliefs of some key players, "said Ryan Rabaglia, OSL's chief operating officer in Hong Kong, a cryptographic currency trading company.
"For this next offensive, we will need to finally get institutional money. Give this support and help grow."
Oran Erlam is one of the strategists who said that the operators' confidence broke down after a bitcoin reduction to 6,000 dollars at the beginning of this month. It seems that this level really supports the marker throughout the year and has most likely encouraged operators to place stop loss orders just below that level.
Other technical measures indicate suffering.
The sales / sales pressure of the DVAN is the best sales, and this shows a strong negative deviation from May sales. In addition, the current bicarbon price remains well below the trend line, indicating that sales pressure will be further increased, which could indicate further losses.
"When the $ 6,000 level was discontinued, you had an element of stopping that started to be fixed, but there were more factors," said Erlam. "There are studies that Bitcoin Cash fork has allowed people to trust, instability has returned and institutional money is not included. The next line in the arena seems to be $ 3,000."