The market for Bitcoin has experienced a contraction noticeable in the last 48 hours. Although its price has declined gradually since reaching the barrier of us $ 11,000 at mid-year, the current condition of the quotes of the cryptocurrencies in the exchange markets is in contrast with many predictions.Only during the day of yesterday, bitcoin declined by USD 221,18 (-3,09%). At the time of writing this decline is equivalent to -4,56% in just 24 hours, which means that its price is estimated at less than us $ 6.700. The market capitalization is above USD 119.000 million, according to COinMarketCap. And the volume of trading in the main houses of change is equivalent to USD 385 million, according to data of the Messari.Due to the dominance of bitcoin in the market is above 67%, this contraction of the price of the main criptomoneda seems to have an impact on the rest of the market. Among the exchanges of greater demand, highlights the pair BTC/USDT platforms such as BitForex, BKEX, Coineal and Hotbit, amounting to approximately 15% of these exchanges, or approximately USD 4 billion, according to CoinMarketCap.Within the last 36 hours, the price of bitcoin fell more than us $ 300. Source: CoinMarketCapOtras cryptocurrencies declined significantly more than bitcoin. Among them, ether is traded in USD 122 (-8,8%). XRP records the decline more drastic in the top 10, with a value of USD 0,18, equivalent to nearly -12%. Bitcoin Cash falls to $ 175, while Litecoin to USD 37 EOS and Stellar at the same luck, when trading with losses of -9%.
Predictions versus facts
Despite the fact that many investors in the ecosystem predicted a notable increase in the price of the cryptocurrencies, the market has reacted with a series of contractions, which induce to think that there is a need to evaluate the factors that have a bearing on the current negotiations of bitcoin.The new trade agreement between the united States and China, for example, could be driving the price of the dollar, at the same time they announced a relative calm in the markets of the yuan, which had been affected by the successive administrative decisions of the government of Trump. This agreement aims to double U.s. exports to China, with the estimate that the latter pay less tariffs. A strengthening of the dollar in the different markets could have consequences in the negotiations stock and exchanges of cryptocurrencies.On the other hand, recent information disclosed about the research of Chainalysis indicate that it is likely that the criminals who led to the scam PlusToken could be manipulating the price of bitcoin to gain advantages. According to the data of this research, who were PlusToken have used the funds of the victims to negotiate in exchange houses as Huobi positions OTC (over the count), which have influenced the volume of exchange over a period of several months.