The bitcoin lost 30%, then bounces back

Photo: Scott Olson, Agence France-Presse Getty Images
Inside of the same day, the bitcoin hyper-volatile is passed to a value of 15 700$ less than a 10-900$, to go up to 14 860$ at the end of the day.

The downward movement of the bitcoin initiated in the beginning of the week is a fast Friday to the point of causing the most well-known cryptomonnaies its worst fall in a day of the year… prior to the conduct of a rebound. And all this, without the observers do not understand too much why.

 

More than 15 US $700 the day before, the value of bitcoin had dropped to a little less than 10 $ 900 in the early afternoon, a decline of 30 %, while the worst downturn it had suffered previously this year had been 22 %, last month.

 

This severe correction was to accelerate a worrisome slide at the beginning of the week while the courses were more than twice as high, at almost 20 000 $. She wore, and the total decline in five days to nearly 45 %.

 

The yo-yo, however, is away in the other direction by the end of the day Friday, the bitcoin is income to 14 860 $ to 18 h, hour the Is.

 

Mystery

 

Much more to be considered for the moment as an object of speculation than a true currency, bitcoin is still well above the 1000 $ that it was worth at the beginning of the year, and even 10 000 $ as it was at the end of last month.

 

It has not been the only cryptomonnaie to be shaking Friday, ethereum and litecoin retreating, respectively, 36 % and 43 %.

 

Analyst for IG France, Alexandre Baradez acknowledged Friday “we do not find particular explanation” to the fall in the price of bitcoin the past few days. “Its volatility is 20 times higher than the volatility in euro/dollar,” said the expert, in particular because of the small size of the market where the action of a few large players may be enough to just disrupt.

 

Early recognition

 

Born in 2009, bitcoins are placed under the authority of any central bank and are created in a decentralized manner by computers solving difficult mathematical problems and thus producing chains of blocks of transactions are coded and authenticated (blockchain, in English).

 

The cryptomonnaies have won this fall in recognition, while the international monetary Fund has warned central banks around the world that they were here to stay, and that they made their entry on the futures market of the Chicago mercantile Exchange. Japan and, since Friday, the Belarus recognize them also as a means of payment legal.

 

Often associated to all kinds of transactions suspicious, in particular because of their intraçabilité, they have also been put on the hot seat this week when the rumor ran on Wednesday that one of their trading platforms had been hacked in South Korea, and that the governor of the Bank of Japan, qualified, Thursday, the outbreak of bitcoin” abnormal “.

 

But for the experts, nothing of all this is not enough to explain the fall of the last days. “It seems that it is time for investors to take their profits and spend for Christmas,” suggested, without much hope, Neil Wilson, the london-based company ETX Capital.

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