Original title: bitcoin plummeted, falling below $8000 for the first time, for complex reasons
Beijing time on the 25th, according to coindesk data, bitcoin plunged 15% on Tuesday to a low of $7944.33. This is the first time bitcoin has fallen below $8000 since mid June, and it is also the lowest level in more than three months. It is worth noting that bitcoin prices have plunged by about 35% since early August.
For the reasons for the sharp decline of bitcoin, analysts pointed out that the reasons behind it are complex.
Brian & bull, CEO of digital currency investment company and hedge fund bkcm; Kelly said that $9000 was a major support level. When bitcoin fell below this level, it triggered a wave of 'selling tide'.
Some market participants said that the sharp decline of bitcoin was partly due to technical factors. They pointed out that this digital currency has been falling in a triangle, which is a bearish signal.
Some analysts believe that bitcoin weakened because investors reacted coldly to the bitcoin futures launched by the parent company of the New York Stock Exchange, the Intercontinental Exchange, on Monday.
Some analysts said it was too early to observe the long-term impact of this futures product on bitcoin.
In addition, it has to be said that with the American social network company Facebook preparing to issue Libra coins, bitcoin, as a more old cryptocurrency, has indeed taken a lot of edge away.