The crypto asset (virtual currency) Bitcoin fell sharply on the 5th Asian time, hitting its lowest price since February. In contrast to the stocks, which are rising all over the world, crypto assets are widely sold.
Bitcoin, which has fallen for the fourth day in a row, was trading at around $54,190, down 8.1% as of 12:21 pm Singapore time (1:21 pm Japan time). Ether, XRP, and Cardano have fallen significantly more than Bitcoin.
Cryptocurrency speculators are currently facing a decline in demand for physical Bitcoin exchange-traded funds (ETFs) in the United States, an uncertain political situation in the United States whose impact is difficult to predict, and the risk that the United States and The German government disposed of seized Bitcoins. They face different problems.
In addition, the trustee of the rehabilitation of Mt. Gox to gradually repay a large amount of Bitcoin to creditors. It is unclear how much of this $8 billion (about 1.29 trillion yen) will ultimately be sold, creating a risk.
Stefan von Hoenisch, head of trading at OSL SG, said, “Currently, there is a general lack of vibrancy in the cryptocurrency market,” adding, “Most of the content currently being discussed is about Mt. Gox. There are bearish factors like sales.” “One or two US interest rate cuts and the expansion of the Fed’s balance sheet are the main ingredients that the crypto market is looking forward to,” he said.
Original title:Bitcoin Falls to Lowest Level Since February Even as Stocks Hit Records、Bitcoin Falls to Lowest Level Since February Even as Stocks Hit Records、Bitcoin Drops to Lowest Level Since February Even as Stocks Hit Record、Bitcoin Falls for Fourth Day Even as Global Stocks Hit Records (excerpt)
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