Quote from: trangoccho on August 05, 2018, 06:15:38 AM

-BTC 5/8 price is trading at 7000 USD / BTC, down 6,9% , market capitalization is 127 billion USD and cash flow is over 17 billion dong according to Coinmarketcap. The BTC's non-braking slope also caused the entire altcoin to turn on red lights. Most notably, TRON's Justin Sun recently featured prominently including Tron's recent acquisition of BitTorrent and uTorrent, the launch of Tron Virtual Machine (TVM), and a secret project later announced as the Project Atlas) but still swept the wave of the market.
  -Five reasons are thought to be the biggest impact on BTC pricing:
   +HitBTC reported hardware failure: The recent tight control on the HitBTC trading floor caused the inhibition of the user community causing the BTC market to suffer a psychological blow after this incident.
   +Bitcoin ETF was denied the license by the SEC. This is considered a major factor causing Bitcoin to drop immediately and causing the market to fluctuate sharply in the past few weeks.
   +Korea taxed the digital exchanges. This news has caused a gloomy atmosphere for the whole market including BTC
   +The recent virtual trading on the BitForex trading floor, a deal on Coinmarketcap, has raised concerns about market manipulation, a loss of confidence in electronic money transactions.
   +Bitcoin's trading profile has changed, noting that the cash flow was flowing back from the altcoins into Bitcoin and Tether (USDT). Indexes for the movement of funds include Bitcoin dominance of market capitalization, up to 48%. In addition, the USDT transaction now accounts for more than 21% of the total volume of the electronic money market.

This is a very good summary and I also think all of these events contributed to the massive price decline in recent days. Which one do you think had the single biggest impact? I tend toward the ETF delay but maybe I am biased as this was constantly talked about. After all, this decision affected only the US market which is certainly less relevant than the Asian regions. What are your thoughts?

JanVanHellsing

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