The avalanche of cryptocurrencies does not stop, hit by a new avalanche of sales during the first trades on the Asian markets. The queen of digital currencies, Bitcoin, after falling below $5 yesterday for the first time since 2017, lost a further 15%, falling to $4.213, about 2 less than last week. Etherum (-14,7%, to $137) and Litecoin (-13%, to $34,39) also fell.
THE COLLAPSE OF BITCOIN AND ETHEREUM SINCE THE BEGINNING OF THE YEAR
2018 thus confirms the annus horribilis of cryptocurrencies. After the peaks reached in December 2017, Bitcoin was worth around 15 dollars on January 70st. Since then, the loss of value has been around 1000%. Even worse was Ethereum, which had broken through the 85 euro mark, only to then depreciate by XNUMX%.
THE DIVISION OF BITCOIN CASH
How can this endless collapse be explained? Some believe that the split of “Bitcoin Cash” from the original Bitcoin played a decisive role, fueling fears about the possibility of new divisions on the horizon in the cryptocurrency world.
THE JUDGMENT OF THE SEC
Another decisive factor was the decision of the Sec, the American Conosb, which announced the first civil sanctions against two cryptocurrency companies (Airfox and Paragon Coin inc) that did not register their Initial Coin Offerings as transactions on shares ( ico), i.e. the offers with which new currencies are issued. The two companies will each have to pay $250 and be required to register the currencies as securities.
THE BAD OMEN OF NVIDIA
The situation in which Nvidia, a company famous for graphics cards but also a leader in the production of chips used to solve agortimi that allow new cryptocurrencies to be minted, does not speak in favor of Bitcoin e& Co. either. After the quarterly results significantly worse than market expectations, Nvidia has come to lose more than 15%.
THE INVESTIGATIONS ON THE 2017 RALLY
Today Bloomberg reports that the US Department of Justice is investigating whether the strong Bitcoin rally observed in 2017, which ended at record levels near $20, was fueled by manipulations through Tether, a digital token as popular as it is controversial.
