Bitcoin (BTC) Price Dives 12%, Sentiment Sours

Things appear to be looking worse for Bitcoin

This was for the first time that the world's largest cryptocurrency slipped below $4000 levels since September 2017. The Bitcoin price especially has taken quite a drubbing in the last few weeks as the BTC price plunged down sixteen percent in just the last twenty-four hours making it fall below $4000. It was widely predicted that Bitcoin would find a plateau at around $6,000 which it did for a couple of months.

Last week, sources said regulators are investigating whether bitcoin's rally to nearly US$20,000 past year was the result of market manipulation.

Following the nasty split that took place after the Bitcoin cash fork, Bitcoin Cash SV performance is shocking as the coin has been pushing its way through the top as the coin now stands as the 7 cryptocurrency in terms of market capitalization. At the press time, Bitcoin (BTC) is trading 7.5% higher for $4038. This recovery brings at least a temporary relief to cryptocurrency investors facing the wrath of the bears since last 12 days.

The Chinese investor, who is worth almost $50bn (£39bn), said: "Blockchain technology could change our world more than people imagine", but adding that "bitcoin however could be a bubble".

Since Bitcoin still dominates proceedings and performance for the rest of the market it should be BTC that we look to when searching for a bottom. Still, the total crypto market now stands at $127.8 billion, up from its yesterday low of $114.5 billion. This may be due to the intensive selling that is going on in the cryptocurrency market.

Donald Trump Threatens to Close US Border With Mexico "Permanently"
Customs and Border Protection helicopters flew overhead, while U.S. agents on foot watched beyond the wire fence in California. The refugees are legally allowed to apply for asylum in the USA , but this process has been known to take as long as a year.

Despite the strong Sunday finish, Bitcoin has so far in today's trading been unable to further its rally and make a decisive comeback.

In a move that appears to be confounding the otherwise depressed nature of cryptocurrency at present, the newly formed Bitcoin SV crypto has seen a 75%+ boost in its value over the last 24hrs. "The idea is that the hash rate gives some idea of what underlying opex (operating expenses) and capital costs people are willing to utilize to generate Bitcoin and give it a benchmark price".

At this point, FUD remains a dominant sentiment and further declines could wind up discouraging big banks or funds from piling on institutional investments even with platforms set to be launched.

Well, all of this ain't be false completely, but many senior experts still believe that big players are stacking more and more BTC.

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