On Wednesday, August 8, the capitalization of the crypto-currency market fell by $ 33 billion (according to CoinMarketCap). Bitcoin lost almost 10%. At the time of publishing this news, it traded at the rate of $ 6452. The leaders of anti-rating among the top-10 coins were IOTA (-18.61%) and EOS (-18.71%).
The drop occurred against the background of news about the postponed decision of the Securities and Exchange Commission (SEC) regarding the launch of bitcoin-ETF. According to most analysts, in the near future the price of the first crypto currency may fall below $ 6000. As expected, the short July growth was largely due to speculation around the SEC decision regarding bitcoin-ETF, although the chances of a positive outcome were small. According to a group of analysts from Bloomberg, the launch of ETF on bitcoin this year is unlikely.
This fall was not a big surprise - at least for the head of the BitMEX stock exchange, Arthur Hayes, who in mid-July said that bitcoin is still able to set a new low this year. He would like to see a price of $ 5,000 to make sure that the market has really bottomed out and is ready to rise to its new top at $ 50,000 by the end of the year. As we can see, the first part of his forecast now looks quite realistic.
