On Thursday, September 6, bitcoin (Bitcoin) is approaching $6,400. At 08:15 (GMT+1), the first cryptocurrency is traded at BitForex exchange at $6,451.02, BitMEX - $6,418.5, and Binance – $6,451.47.
The weighted average rate is $6,445.46 (-12.58%), the capitalization of the cryptocurrency is $111.1 billion. A day ago, bitcoin was approaching the $7,400 mark.
All top-100 cryptocurrencies by market capitalization are in the red zone at the given moment except TrueUSD. The ethereum (ETH/USD) rate fell 19.34% to $229.03, Ripple (XRP/USD) is down 12.61% to $0.288.
Analyst Joseph Young wrote that the latest decline in the market will make traders remember the forecasts for bitcoins at $4,000. He believes that many of them could buy tokens in the last two days and only pretend to hold a short position on the BTC.
And now, after a massive 2% fall, here comes all the $4k Bitcoin predictions by geniuses who actually got rekt in the past two days by going all in on tokens but pretend to have shorted Bitcoin.
— Joseph Young (@iamjosephyoung) September 5, 2018
Earlier the founder of Morgan Creek Digital Assets Anthony Pompliano admitted that bitcoin could fall to $3,000.
WHY IS IT IMPORTANT?
- On Wednesday, September 5, the bitcoin rate fell sharply by 5%, the currency fell to $7,000, although a few hours ago its value was $7,400.2.
- Experts believe that there are no objective reasons for such sharp leaps. They assume that the high volatility will continue for several more weeks,until the final decision on the launch of bitcoin-ETF.
- Yesterday, the bitcoin rate collapsed after it became known that the largest investment bank Goldman Sachs stopped the development of its own trading platform for cryptocurrencies.