Bitcoin comes under the wheels

Just before Christmas Bitcoin comes under the wheels: After the cryptocurrency changed hands for more than $ 20,000 a few days ago, their value fell on Friday by more than 30 percent to up to 10,800 US dollars and headed for the biggest daily loss in nearly five years. The prices of other cyber currencies like Bitcoin Cash, Ethereum or ripple rushed out similarly strong.

Timo Emden, Germany boss of the online broker DailyFX, spoke of panic selling. “Many private investors are likely to have burned in recent days, the fingers on digital Taler.” But in the opinion of analysts Neil Wilson from the brokerage firm ETX Capital, it is doubtful that the bubble has burst. Finally drastic price swings in crypto currencies of the day were. “To ring the death knell, it’s too early. It looks more after that, it’s time to pocket profits check if it really works and output them for extra festive Christmas.” Despite the current losses a Bitcoin currently costs still about ten times as much as at the beginning.

The youngest steep price rise has at least for now come to an abrupt end: On the weekend of the Bitcoin was still running up to 20,000 dollars.

seen no concrete triggers sale

A specific trigger for the sell-current could not call broker. However, since the beginning of the week, central bankers, politicians and supervisors had warned with sometimes drastic words against high losses in speculation with Bitcoin that could ruinous particularly retail investors. In addition, the suspect made insider trading at Cyber-exchange operator Coinbase uncertainty. The trading platform presented its operating mid-week one even partially.

Surprisingly clear words had found on Monday, the Danish central bank governor Lars Rode: “.! Stay away This is deadly,” he said in a nationally-heard interview with the radio station DR. Voices calling for a ban on the cyber currency, or at least narrow limits on speculation in Bitcoin grew louder last. Bundesbank chief Jens Weidmann also warned of losses, is a ban but skeptical.

The highpoint of the Bitcoin hype was on Thursday the announcement of the US furniture maker Nova LifeStyle future to accept Bitcoin and other crypto currencies regularly as payment. The company’s stock has catapulted it to 38 percent higher. On Friday, the financial agency Bloomberg reported that the US investment bank Goldman Sachs is it scam or not wants to create its own trade area for crypto currencies like Bitcoin. A spokesman for the money the house said: “In response to customer interest in digital currencies, we see how we can operate this best.”

Bitcoin Course – (c) Screenshot

The Bitcoin crash ripped on Friday shares of companies that are dealing in the broadest sense of the cyber currency, with in depth: The title of Bitcoin Group, which operates with the only German market for crypto currencies lost temporarily almost 24 percent of their value. On Wall Street, Long Iceland Iced Tea, longfin, Marathon,, Rioty, Social Reality, Square and Xunlei plummeted by up to 27 percent. These companies deal with the block chain technology, based on Bitcoin and other cyber foreign exchange. However, the hype had brought to crypto-currency these companies in recent months, price gains of some 1,000 percent.

Bitcoin is notorious for large price swings. Thus, the price broke out in November by nearly 30 percent, from 7,888 to 5,555 US dollars a. In September, it fell by 40 percent from 4979 to 2972 US dollars. A year ago, the cyber currency still cost $ 1,000 just. The rapid price rise has fueled concerns about a bubble.