Bitcoin's market capitalization for the first time since October 2017 fell below $ 100 billion on Thursday, and before sales was lower than $ 97,554,227,588. From noon 13:52 HK / SIN, the crypto-value value was $ 97,931,254,200 under CoinMarketCap. Bitcoin traded $ 5,564.70 in Coinbase, the most popular bitumen exchange, down $ 734.3 since yesterday or 11.71 percent. The cryptographic currency has dropped by 25.47 percent since the last year. Only in December 2017 Bitcoin sold more than 19,000 dollars per coin.
Thursday's dramatic losses followed global sales on Wednesday, which could have been caused by the "hard fork" that was implemented with bitcoin cash, the standard batting breakout. A hard fork is a technical term for the upgrade kryptvulus software, which is known to cause chaos to the corresponding kryptvulara. If dealers are worried about technology related to hard fork, they usually sell their farms. Widespread sales reduce the price of a cryptographic crop, which subsequently causes the loss of another stoppage position of the trader by increasing losses as traders reduce their risks. However, analysts are not expecting this sale to lead to a long-term trend.
Oil prices are also lower
On Thursday, oil prices were lower, driven by increased supply and a cumbersome global economic downturn that could reduce demand. Data released this week by Germany and Japan, two of the world's largest industrial producers, showed economic contractions, while China's economy was still frustrating. China is the second largest consumer of crude oil in the world.
The US dollar futures in the United States fell by 0.28 percent to US $ 56.09 per barrel in the afternoon in the United States, while Brent's oil prices fell by 0.12 percent to $ 66.04 per barrel. From the previous month, oil prices have lost almost a quarter of their value. OPEC and its oil industry allies are considering a reduction in supply similar to what they did in 2017 in an effort to cut supplies and raise oil prices. It is expected that an official decision will be made after the OPEC meeting next month.