Bitstamp trading platform data show that Beijing time at 15:45 on the 6th, bitcoin fell below 6,000 US dollars, as of the 7th update back to the top of 8,000 US dollars over the past 24 hours more than 13% of the cumulative increase.
As of the most recent update, tracking digital currency market value and price websites Coinmarketcap data show that the top ten market capitalization digital currency collective rose over the past 24 hours, the largest increase of more than 24%, 6, had fallen below 580 US dollars rose about 11% of the etheric currency, , Approaching 800 US dollars on the 6th had dropped below 0.6 US dollars Ruibo money back above 0.7 US dollars.
Screenshot from Coinmarketcap
On the 6th of the United States time, on the 6th of the U.S. currency, Jayson Clayton, chairman of the Securities and Exchange Commission (SEC), and Christopher Giancarlo, chairman of the Commodity Futures Trading Commission (CFTC), both testified before a Senate hearing on the 6th, when they released the tightening legislation Optimistic about the signal of the blockchain technology.
In the pre-published testimony, Giancarlo said digital currencies may require more careful monitoring by regulatory authorities in the light of market fraud and manipulation, but he is optimistic about blockchain technology in the same way he did with the Internet, "and that" no harm is done "is distributed The Right Way for the Development of Style Books.
Giancarlo concludes that the SEC and the CFTC should do everything they can to leave room for growth for digital currencies, which symbolize the paradigm shift in payments, traditional financing and engagement in economic activities and are irresponsible if regulation ignores these developments.
Clayton said investors in digital currencies need full protection and the SEC may support the Treasury and the Federal Reserve asking for additional digital currency legislation without denying the role of digital money in the modern financial ecosystem.
When a senator asks Ginacarlo for the value of Bitcoin, he replies: 'Without Bitcoin, there would be no distributed bookkeeping technology.'
Both Ginacarlo and Clayton know that digital currency is important for developing this technology, and Ginacarlo added that the minimum value of Bitcoin may not be zero because the value of bitcoin is 'related to mining.'
Reuters (Reuters) - John Sarson, managing partner at Blockchain Momentum LP, commented that the recent weakness in Bitcoin stems from liquidity tightening and recent profit-taking, and does not reflect the long-term prospects for Bitcoin, a sell-off that will prompt the agency to act promptly, High before the use of enhanced digital asset services.
Bitcoin hit the third largest decline in history
Beijing time at 13:08 on the 6th or so, GDAX platform quotes show that bitcoin fell below 6,000 US dollars integer mark, over the past 24 hours, the cumulative decline of more than 25%.
Bitcoin hit $ 18,674 in December last year and has now fallen by nearly 70% from the time it was before, making it the third-largest decline in history.
Bitcoin lost most of the time from November 30, 2013 to January 14, 2015, when prices plunged 87% to $ 152.4 from $ 1,163.
Bitcoin prices plunged 83% from $ 259.34 to $ 45 from April 10, 2013 - April 12, 2013, ranking second in the history of declines.
Regulators continue to pressure banks to be cautious
In the past month or so, bitcoin prices experienced a clear and turbulent decline, in stark contrast to the super bull market that jumped 16 times last year.
This is closely linked to the continuous supervisions of many major countries in the world such as South Korea, India, China, etc. Just last month, Indonesia banned financial institutions from engaging in bitcoin payment business. The governor of Bali Police Department said that according to law, Indonesian rupiah must be used for all financial transactions in Indonesia.
Earlier, China's central bank's "China Financial Times" reported that it will take a series of regulatory measures against ICO (first-time tokens issuance) and virtual currency transactions both at home and abroad, including banning related commercial entities, banning and disposing of domestic and foreign virtual currency transactions Platform website.
In the meantime, several U.S. and British banks have announced a ban on customers using credit cards to buy bitcoin, and Lloyds Bank, the UK's largest mortgage lender, announced on February 5 that it will ban its customers from using credit cards to borrow digital currencies such as bitcoin, Worried that customers would suffer huge losses as a result of the price drop and as a result, the banks failed to recover the money. Three U.S. banks, including JP Morgan Chase, Bank of America and Citibank, announced that they would not be allowed to trade any virtual currency under their credit cards one after another.
The Wall Street Journal quoted Charlie Bilello, director of research at Pension Partners in New York, as saying that the recent decline has somewhat worsened, and for those new investors who invested in cryptocurrencies during last year's price hikes, the price plummeted They recognize the reality that many people investing in cryptocurrencies are attracted by the prospect of the currency being outside the control of the central bank and the government, but now have to succumb to market forces.
Once accurately predicting Nouriel Roubini, the stormy 'Doomsday Doctor' in 2008, bitcoin is the biggest bubble in human history and is now crashing back to the surface, he predicts that the bitcoin's plunge The beginning, may fall to nothing, the price zero.
According to DoNews, Miles Eakers, chief market strategist at Centtrip, said the downtrend in bitcoin is expected to continue, setting the next price level to $ 5,000.