Bitcoin suffers a blow after hacker attack on exchange and CFTC investigation

A hacker attack on an exchange of cryptocurrencies in South Korea with the news of a US commission investigation on commodity trade in consumer goods that intends to determine if there is a price manipulation of bitcoins, have brought down the price of coins digital, first of all the bitcoin that yesterday lost 11% with a minimum registered at 6,640 dollars. The total market capitalization of digital currencies fell by around 40 billion after yesterday’s sell-off.

The BTC / USD chart shows that the market has fallen decisively below the main trendline that was supporting the rise since September 2017, the violation of this key level has contributed to give strength to the bearish movement pushing the price of cryptocurrency to the next minimum, which, for the moment has stopped the pressures for sale but, as the market is moving close to the support and shows no signs of recovery it is possible that the downtrend will extend further after a possible pullback on the trendline just violated.

The price of bitcoin has returned to the levels of about two months ago ‘and the cryptocurrencies altcoin have suffered a significant depreciation in the order of 10% in the last 24 hours, while the total loss since the beginning of the year regarding bitcoin is more than 50%.

About Paolo Cianfriglia 28 Articles
Paolo is a financial analyst who likes to analyze and write about financial markets, especially abuot the fast-growing cryptocurrency markets. He writes for several websites and corporate blogs and at the same time offers advice to investors who are not yet familiar with the dangers related to the digital currency markets. Strongly motivated by the interest in blockchain technology, he loves sharing the news of the sector. Email Address: paoloweb@altcoinews.it

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