Bitcoin sinks to new 13-month low

Bitcoin falls below $4,500 as cryptocurrency's value drops 30% in a week

The price of Bitcoin (BTC) dropped sharply earlier today, briefly dipping below US$5,000 per coin, as the brutal sell-off gripping the cryptocurrency market deepened.

The slump in bitcoin's market performance marks the lowest BTC price since October 18, 2017. It seems the trend turned bearish for almost every cryptocurrency, except for USD Coin, QASH and Dai showing minor increase.

Across the board, the market cap for cryptoassets was $168 billion on Monday, according to CoinMarketCap data. Some people in the crypto community believe this fall is associated with panic selling and that now is, in fact, the best time to buy bitcoin.

"The BCH hard fork is turning out to be an arms race among bitcoin miners". The fear is that investors who have been holding in the hope that prices will recover will throw in the towel, causing prices to fall further and faster as buyers stay on the sidelines. Bitcoin Cash is the most heavily affected cryptocurrency in this market fall.

White House Reinstates Jim Acosta's Press Pass, CNN Dropping Lawsuit
Trump has called for more "decorum" at the White House and has said staff is "writing up rules and regulations" for reporters. A federal judge on Friday forced the White House to return Acosta's credentials .

John Lewis Christmas advert stars Broadstairs boy Hudson Trindall as Elton John
This year department store rival Debenhams was criticised for releasing a Christmas advert similar to John Lewis's 2017 offering. The Christmas season doesn't really kick off in the United Kingdom until the annual John Lewis Christmas commercial is unveiled.

Gerard Butler shares photo of Malibu home destroyed in Woolsey fire
The conditions are expected to extend into Monday, threatening new flare-ups that could become uncontainable, according to Osby. He also thanked the fire department saying, "Inspired as ever by the courage, spirit and sacrifice of firefighters".

The cmessage from deVere Group's founder and chief executive, Nigel Green, comes as leading cryptocurrencies Bitcoin and Ethereum (ETH) were in the red on Monday.

One market estimate made last month put the cost of mining one bitcoin at $7,000. This could lead to similar splits, dragging the overall value of cryptocurrencies downward. The SEC ruling last week - that two ICOs were securities - will affect Ripple as many think that XRP should already be classified as a security. The Chicago Mercantile Exchange or CME presented Bitcoin futures trading on December 17. And on Tuesday, Bloomberg reported that the U.S. Justice Department is investigating whether last year's epic rally was fueled in part by manipulation, with traders driving up Bitcoin with Tether - a popular but controversial digital token. Here, a visual representation of the digital cryptocurrency bitcoin is seen alongside US dollars in London, Dec. 7, 2017. The cryptocurrency has fallen by over 30% since final Thanksgiving.

The agency recently settled with two companies, Paragon, and Carrier EQ, requiring them to pay $250,000 in penalties each, and offer investors a chance to request a refund for their tokens. If there is a break below $4,400, then bitcoin price will most likely nosedive towards the $4,000 handle in the near term. In addition, it is testing its 23.6 per cent five-year look back Fibonacci level of US$4,727 as its next support.

The recent developments on the crypto market - namely Bitcoin Cash hard fork and a holy war of two rivaling camps of Bitcoin ABC and Bitcoin SV supporters - stress the chaotic and immature nature of the industry.

Related news:

loading...

Hot News

isis-killer-beheading-video-story-top Redskins signing Sanchez to back up McCoy
Nov 20, 2018 - 01:50
Colin Kaepernick is still interested in a return to the National Football League , according to a source. In nine games, Smith has gone 193-of-301 for 2045 passing yards, 10 touchdowns and three interceptions.

‘Once Upon A Deadpool’ Trailer: No Happy Ending For Fred Savage
Nov 20, 2018 - 01:49
Fred , 42, cut in saying: "I'm a grown man" but Deadpool continued 'and no one does childlike innocense like you, Fred , nobody. First, a portion of the proceeds had to go to charity.

isis-killer-beheading-video-story-top Manchester United Reveals The Two Players It Will Drop In January
Nov 20, 2018 - 01:47
Mourinho made a personal check on Alderweireld last Thursday though as Belgium beat Iceland 2-0 at Brussels' Heysel Stadium. But now that Pereira has chose to stay at Old Trafford so that he can play for the manager, Mourinho doesn't even play him.

isis-killer-beheading-video-story-top China-US Trade Talks Resume
Nov 19, 2018 - 00:35
Many analysts remain sceptical about the prospects of a deal that would address the deeper issues raised by the US. Trump is expected to meet Chinese President Xi Jinping on the sidelines of a Group of 20 summit later this month.

isis-killer-beheading-video-story-top Michelle Obama Slipped the Secret Service to Celebrate Gay Marriage
Nov 17, 2018 - 01:04
Her husband and the former President Barack Obama shared a touching tribute to Michelle upon the memoir's release. Michelle Obama revealed she once snuck out the White House in order to celebrate the U.S.

isis-killer-beheading-video-story-top Deepika, Ranveer wedding: Glamour, luxury and a bit of showbiz drama
Nov 16, 2018 - 00:47
Mid-Day quoted a source stating, "The bride and groom have requested the guests to not shower them with gifts". Deepika got extremely emotional during the sangeet after hearing a speech that Ranveer had prepared for her.

isis-killer-beheading-video-story-top Toronto officially loses Amazon's coveted HQ2 bid
Nov 14, 2018 - 02:05
If your city wasn't declared as one of the "winners" of Amazon's HQ2, you might feel good after reading some of these critiques. While Amazon initially appeared to be casting its net wide, its final selection will reinforce those trends, said Mr Muro.

isis-killer-beheading-video-story-top Dead, 150000 evacuated as new wildfires hit California
Nov 14, 2018 - 02:03
In Southern California there are now two fires in Ventura and Los Angeles Counties threatening structures and forcing evacuations. The Woolsey Fire was burning northeast of Thousand Oaks, not far from where a shooting killed 12 people late Wednesday night.

isis-killer-beheading-video-story-top Steelers star Le’Veon Bell to sit out full season
Nov 14, 2018 - 01:51
Up until late last week, the Steelers were bracing for the return of Bell, who played basketball at a local LA Fitness last week. His teammates stressed it was no big deal, confident Bell would show up in time for the regular-season opener.

isis-killer-beheading-video-story-top California wildfires: At least 42 are killed in deadliest blaze
Nov 13, 2018 - 13:47
The Woolsey Fire in Southern California burnt 85,500 acres and destroyed 177 structures. Robin Thicke's Malibu home burned down entirely, according to his representative.

isis-killer-beheading-video-story-top Trump Whitaker pick may provoke constitutional crisis, Democrats say
Nov 12, 2018 - 00:50
Obstruction of justice is defined as an official using their power corruptly to prevent an illegal act from being investigated . One is simply by declining to continue to pay the investigators or attorneys working for the special counsel.

isis-killer-beheading-video-story-top Ariana Grande Shows Off Her New Tattoos in "Breathin" Music Video
Nov 12, 2018 - 00:44
After going through a very public break-up, the 25-year-old singer is sharing her wisdom on picking the ideal engagement rings. Especially because Ari took a spin on what all the people taught her, it nearly would've been a compliment to him.

isis-killer-beheading-video-story-top City vs United: Predicting the Manchester United XI for the derby
Nov 12, 2018 - 00:37
United's manager tried to make his team hard to break down but was always up against it after conceding so early. MF Ander Herrera, 5 - Had his work cut out on the right of United's midfield three trying to stop David Silva .

isis-killer-beheading-video-story-top Fulham Boss Channels Inner-Steven Gerrard With Decimation Of Players
Nov 11, 2018 - 08:54
But Klopp said he waits until after "a full night and morning" as "emotions are not good for analysis". The boys looked much more mature, but not in the last game. "It's all good.

isis-killer-beheading-video-story-top Trump, Macron agree on defence after 'insulting' European army spat
Nov 11, 2018 - 08:48
House of Representatives to Democrats who may use their newfound power to launch investigations into Trump and stymie his agenda. Trump also reminded Macron of the need for Europe to pay its "fair share of NATO " costs during the meeting.