Bitcoin has updated the annual minimum | informnews
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Bitcoin has updated the annual minimum

Bitcoin has updated the annual minimum

The largest digital assets on Friday, November 23, began to fall again after a slight increase recorded the day before. The capitalization of the cryptocurrency market fell to 139.75 billion dollars at the end of the week.

In the morning, November 23, the value of bitcoin fell to a new annual low of $ 4195, but later it slightly increased. In the middle of the day bitcoin has slipped over the past day by almost 6% to 4306 dollars. The second and third cryptocurrencies in terms of capitalization, Ripple (XRP) and Ethereum, fell by 6.65% and 7.59% to 0.41 and 124.9 dollars respectively.

Last Thursday, analysts recorded a relative stabilization in the market. Some cryptocurrencies have even grown slightly in price, which inspired optimism for some traders. But on the night of Friday, the negative trend again became dominant, as a result of which digital assets resumed falling.

Experts agree that three main factors provoke a drop in the capitalization of cryptocurrencies. First, the hard fork of Bitcoin Cash and the subsequenthash warcaused the trust of investors in relation to this cryptocurrency and bitcoin to falter. Second, the postponement of the launch of cryptocurrency platform Bakkt also contributed to the sales growth of digital assets. And thirdly, the tough policy on the part of regulators, primarily the us securities and exchange Commission, led to the fact that many ICO projects were forced to leave the market because of persecution by the authorities.

According to the expert of Susquehanna Bart Smith, as soon as the appropriate regulatory framework for the cryptocurrency market is developed and implemented, investors will invest their savings in digital assets and help improve the liquidity of bitcoin.

In addition, the market dynamics may be positively affected by the start of trading on cryptocurrency platforms aimed at large institutional investors.

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