On Wednesday, August 1st, the price of bitcoin continued the strong bearish price decline and fell below the mark of $7,500.
Last time on these marks the first cryptocurrency was traded more than a week ago – July 22nd.
For example, bitcoin dropped to $7,451 on Bitstamp, Bitfinex to $7,469.
Over the past day, bitcoin fell in price by 7.5%, on a weekly basis this figure exceeded 9%. The market capitalization at the time of printing was $129.3 billion.
A number of sources suggest that the bearish sentiment in the market is caused by the latest limes from South Korea, where the authorities are considering the possibility of lifting tax breaks for crypto-exchange exchanges.
Recently, in this Asian country, there has been an increased volume of transactions with bitcoin and other digital assets, as a result of which the authorities expressed concern that a significant part of them is used for money laundering and financing of criminal activity. It is unseemly to accept such statements on faith, however, it would be hasty.
In general, for the past two days, the market is also dominated by bearish sentiment: the vast majority of coins are in the deep red zone, and their losses in percentage terms are in many cases measured in double digits.
Thus, the second on the capitalization of Ethereum currently trades around $415, the price of EOS has fallen to $7.20, Cardano has lost almost 20%, dropping to $0.137.
Also draws attention to the fact that the trading volume for the last 24 hours has been replaced by the OKEx exchange, having pushed Binance from the first line.