Not a great week for the Bitcoin price, but also not a disaster, as some claim. We started the week with a potential decline in the direction of 7200 $. The Analyst Alex Krüger referred to Bitcoin as a more robust than during the bear market in 2018.
A course in $8k would offer a great “long” opportunity, he said.
Kruger did not have to wait long for his opportunity. In the middle of the week, the price broke up to 8,500 $ one and lost 1200 $ in a single day, which led to “crazy” different Bitcoin prices on some exchanges. Some analysts predicted further losses, while others tried to explain the reasons for the decline.
Initially, they suspected the unexpected Flash-Crash of the Hashrate as the reason for the loss, but data indicated that there was a huge sale of $ 1.2 billion from a private Wallet. Others questioned whether the decline in any way related to the Crash in the S&P 500 that preceded it immediately.
Contents
Where is Bitcoins the ground?
The analysts are currently debating, where the Bitcoin bottom is in. Some believed that the $8k is the low point has already been reached, while others are of the opinion that a drop to $6k could be at the game.
The Bitcoin price fell for a short time and fell in the direction of the Support at its 7,700 $, before it stabilised at about $ 8,000, where he will continue to be traded.
In order for the Bitcoin exchange rate has finished the worst Q3 since 2014, but there’s really no reason to worry. The volatility is compared to the last two years, is still low, the network fundamentals look good and the days price is in the long term anyway no role.
In the long term, analysts are confident that the only way is up… to $ 100,000.
Bakkt – What was going on there?
On Monday, the Launch managed to Bakkt finally, and the first signs appeared positive, even if not for the Bitcoin price. 18 BTC was traded in the first hour. A few days later, many were disappointed, however, gave even Bakkt the blame for the fall in Bitcoin price.
Quickly the comparison with the Trading came platform BitMEX* has hit the Bakkt the daily trading volume of more than 375.000 per cent. Added Bitmex has for years been the Big Player, however, Bakkts Start in connection with the traded volume was rather weak.
More news of the week
The Stuttgart stock exchange rose in the crypto market and became the first fully regulated trading platform for Bitcoin and other crypto-Assets in Germany.
Kiks-standing dispute with the SEC seems to demand its tribute, because the Chat App was set up this week and the Kin-Token to Zero fell.
The alleged Satoshi Nakamoto appeared this week as a Thai monk in Bangkok, in a Deep-Fake-Video that also includes Donald Trump and Prince William showed.
In addition, the crypto-exchange OKEx was in the midst of a dispute with the Bitcoin Transparency Institute, through repeated statements, that 90 percent of the volume attributable to Wash-Trading.
CEO Jay Hao was up to the challenge and offered a bet of 100 BTC that he can prove that the claims are false. If he can show that about 10 percent of the OKEx-volume real, should give him the BTI 100 BTC. Hao demanded an apology for the statement, if the challenge is not accepted.
The conditions of the Challenge are right mau, da Hao must prove that only 10 percent of the volume are real. So he wanted to prove with his bet that the BTI is entirely off the mark, but only a little.
So @BTI___ claimed 90% of our volume is fake. I dare you 100 BTC that you are wrong. If we can prove 10%+ of our volume is real, you give me 100 BTC. If we can’t, I give you 100 BTC. What say you @BTI___? If you dare not to accept the challenge, please apologize for the allegation. pic.twitter.com/J3On9Lirhj
— Jay Hao (@JayHao8) 24. September 2019
Text evidence: bitcoinis, emilio Janus