Fall of digital currencies | Bloomberg
Author: James Alexander Michie
Digital currencies have been severely affected and they have been in free fall lately, in fact, the largest digital currency had a drop of up to 6.2% to $ 5,887, positioning itself as its lowest level seen before. Meanwhile we have the ether that was affected by a fall of up to 13%, likewise, it has triggered a fall in the last 24 hours for the 100 largest cryptocurrencies except for one of them.
The bitcoin came under $ 6,000 and therefore has left as a result that dozens of smaller digital chips among which ether is included have been removed by the massive cancellation that has been shown this month in the cryptocurrencies that have exposed few signs of relief or improvement.
It is worth noting that the surpluses during the month of July had recovered, which established a certain expectation that a fund traded on a stock exchange backed by bitcoin would attract new investors, however, the proposals presented have not yet been signed so that this can be done. same. This, of course, has caused great concern in the entrepreneurs who had raised funds denominated in cryptocurrency through offers of initial currencies are now reaching share money as Ether the token of the chain of blocks of Ethereum which is a popular scenario for projects of cryptography.
Meanwhile, it has been said that bitcoin has remained relatively well against Ethereum and that it is still weak against the US dollar. Likewise the ether has had a 40% drop during the month as Bitcoin has been affected by a 26% drop, however, according to experts it is considered that what happened is not necessarily due to the economic storm that faces the world is to say this is something alien to the fall of the cryptocurrency, precisely that is one of the reasons why people have been interested in the same, since they should not be affected reasons alien to themselves. Despite this, it was expected that due to the turbulence caused by the current economic storm, Bitcoin would become a refuge, but it has not been so, which has surely disappointed more than one person, in fact, this month it has been seen that the fall of the cryptocurrency against the dollar has been almost of equal magnitude as that of the Turkish lira of 25%.
Source: Eric Lam and Yuji Nakamura | Bloomberg
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