France ensures that the EU will not authorize the Facebook PoundBitcoin worsens 33% its collapse with the brake on the Facebook Pound.
The corrective to bitcoin worsens. The collapse of up to 17% causes new lows at the edge of $ 8,000, its lowest levels in three months, and almost 40% below the highs at the end of June. The launch of new ‘official’ futures on bitcoin has accelerated declines.
The usual roller coaster in bitcoin trading faces another crash
The price of the cryptocurrency enters its lowest levels in three months, since mid-June. In the last few hours, it has accumulated a collapse of more than 15% , a corrective that has sunk its price to the edge of $ 8,000.
The drop to this level brings the bitcoin crash from the highs reached at the end of June, above $ 13,000, to around 40% , in full euphoria in the world of cryptocurrencies due to the launch of the Facebook Pound.
Since then, supervisors have been tasked with deflating the euphoria generated by Facebook’s cryptocurrency. The warnings issued cast doubt on its viability, and include messages as forceful as the one recently launched by France. French Finance Minister Bruno Le Maire has gone on to assure that the European Union will not authorize Libra .
With the future of Facebook’s cryptocurrency in doubt, investors clung to the stimulus that came from launching the ‘official’ futures of the owner of the New York Stock Exchange on bitcoin. Its premiere opened the door for new and bigger investors to enter the world of cryptocurrencies.
Intercontinental Exchange (ICE), owner of the New York Stock Exchange (NYSE), this week launched its futures on the price of bitcoin. The new futures are listed on the Bakkt platform .
For months, the premiere of this ‘official’ investment route in bitcoins had accelerated optimism about a renewed boost in the price of virtual currency, given the possibility of a significant inflow of investments through the new ICE futures.
Far from serving as a shock, the beginning of new futures has accelerated drops in the price of bitcoin. Several analysts highlight that investors have followed the maxim of “buy with the rumor and sell with the news”. The first trading numbers of the new futures, moreover, invite more caution than optimism.
Yesterday, the ICE platform, Bakkt, encrypted only 166 contracts traded on bitcoin futures, a figure that highlights the low appetite of investors and the misgivings that continue to generate cryptocurrencies in full regulatory offensive.