Bitcoin starts Wednesday with a loss of 3.32% per day. At the press time, the cryptocurrency is trading at $6,693. All assets from the TOP-10 CoinMarketCap capitalization ratings are trading in a negative trend. The exception is Tether’s token USDT.
Increased sales are observed in almost all liquid market instruments. The capitalization index fell by 6.8%, and by the current moment, its value is $179 billion.
The participants of the crypto community use the drop in rate on the digital market to replenish assets. The latter included billionaire Bill Pulte. On his current acquisition, he announced on Twitter:
I bought more Bitcoin today
— Bill Pulte (@pulte) December 17, 2019
A few days earlier, the large financier already bought 11 BTC.
I recently bought 11 bitcoins
— Bill Pulte (@pulte) December 12, 2019
Currently, Pulte leads the investment company Pulte Capital Partners. He is the grandson of the founder of the construction empire PulteGroup with a realized fortune of about $11 billion.
The financier has been interested in the cryptocurrency industry for a long time. In his opinion, Bitcoin will help to improve the situation over the world and help poor people. The main advantage of BTC is the fact that a coin can be sent without intermediaries to any person anywhere in the world.
Bitcoin Forecast: Opinion of Crypto Community Participants
Contrary to the expectations, the trend reversal did not happen. BTC price collapsed to a value of $ 6900 for a short period and moved even lower after a short consolidation. Is has reached the rate at the current moment, which was the last time on November 25th. Thus, the downtrend continues.
Against the background of the negative BTC movement, participants of the crypto community noted that the current decline is included in the projected boundaries of the asset channel.
I am beginning to see even long term Bitcoin holders contemplate a world where Bitcoin fails
NOT GONNA HAPPEN! ZOOM OUT! pic.twitter.com/Ie70xrxlq4
— Crypto Capital Venture ⚡ (@cryptorecruitr) December 18, 2019
Therefore, the cryptocurrency risks continuing to decline. The estimated target for the BTC course could be the level of $ 4,500.
Some Positive Events In Crypto Space
The CNBC team noted that December 18 is a special date for BTC. On this day exactly 2 years ago, the rate of the most capitalized cryptocurrency reached its maximum value, approaching the level of $20 thousand. As of December 18, 2019, bitcoin lost about 67% of its peak value.
— CNBC's Fast Money (@CNBCFastMoney) December 17, 2019
Meanwhile, the trading volume of bitcoin on the p2p platform LocalBitcoins in Venezuela has updated another high, according to CoinDance.
Over the past week ending December 14, Venezuelans exchanged more than 209 billion bolivars for BTC.
The previous historical maximum was recorded a week earlier at 142.9 billion VES. Recall that BTC trading volumes in Venezuela have been growing for a long time against the backdrop of hyperinflation in the country.
At the same time, local authorities continue to promote the national digital currency, El Petro. For example, they plan to distribute it to retirees as a gift for Christmas.