Yesterday, September 24, the price of Bitcoin slid downhill, precipitating the skid of the other cryptocurrencies. The price, fell in one day from its support at $ 9800, falling to levels of 8000.
Bitcoin had been stuck in a very long lateral movement, moving permanently in the $ 10,000 range. This fall may end the illusion of the new bull market, and analysts speculate on its possible causes.
On the one hand, there are those who blame the disappointing start of Bakkt, a futures trading project that was mediocrely released, with the sale of 18 BTC in its first 24 hours. There is also the news of Google and its “quantum supremacy”, which could deal a painful blow to the morale of crypto-enthusiasts. Finally, last week there was a surprising drop in the Hash rate of more than 40%, then that it came marking maximum successive.
Some blame the fall of the hash, to a possible update of the equipment in Bitmain, the main participant in the mining industry.
Today, the pessimistic spiral continues. Bitcoin is on its way to its next support, located at 7500 dollars. There are a few months left for Halving, an event that will reduce the rewards of the coin in half.
Is this a last fall for strong hands to accumulate more? Will it be the end of Bitcoin? In time we will know.
