Bitcoin weakened, continuously decreased, why?
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After a streak of 42% spike, the top virtual currency has continuously plunged and is in danger of falling to a low level
Over the past 24 hours, the Bitcoin price continues to decline, currently standing at $ 9,142, down 0.7%, equivalent to an additional $ 65 per coin, according to Bitsatmp.
According to CoinMarketCap, the coin market cap this morning was about 165 billion USD, trading volume in one day was only 26 billion USD.
Strong volatility has returned to Bitcoin, after a streak of 42% spike, the leading virtual currency has continuously plunged and is in danger of falling low. According to analysts, the cause of the plunge came from a number of macro events.
Specifically, the first reason is congressional skepticism of Facebook's virtual currency Libra. In June of this year, after much speculation, Facebook officially announced its first cryptocurrency called Libra.
Libra is described to help users of social networks to easily transact and exchange finance with each other. In addition to simple methods such as regular messaging, transactions are also encrypted, highly secure thanks to Blockchain technology.
However, Facebook's virtual currency has not received the trust or even concern of American officials. According to them, Facebook owns 2.4 billion users who can quickly access the coin in an unregulated market. Currently, lawmakers in the US are calling for strengthening and clarifying regulations governing the crypto market.
The second cause of Bitcoin's recent price volatility is believed to have come from the tech giant Google. In the scientific journal Nature, Google said it has achieved quantum superiority, or the ultimate quantum - a milestone marking the ability of quantum computers to solve problems at super-fast speeds, which that a regular computer can't do.
Accordingly, Google's quantum computer takes about 200 seconds (3 minutes and 20 seconds) to complete the miracle that IBM Summit - the world's most powerful supercomputer, is estimated to take 10,000 years to solve.
Some analysts are concerned that quantum energy could disrupt Bitcoin's crypto, potentially jeopardizing the leading cryptocurrency.
Besides, geopolitical fluctuations, the Hina trade war ... also contribute to the impact on Bitcoin price.
Bitcoin plummeted along with the decline of many top virtual currencies. The majority of cryptocurrencies in the top 10 were also in the red, down from 2% to. At the time of writing this morning, Ethereum transaction price decreased by 0.64%, Ripple decreased 0.55%, Bitcoin Cash decreased 2.63%, Tether decreased 0.05%, Bitcoin SV decreased by58% ...
On the Vietnamese market, Bitcoin's price decreased by 0.63% to 209 million dongs. Ethereum also fell 1.62%, trading at 4.1 million dongs.
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