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Bitcoin fell again. This time below $ 7,500

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Bitcoin fell again. This time below $ 7,500
August 06
13:00 2018

Last Friday the rate of  Bitcoin, the most popular cryptocurrency in the world, showed another decline. We recall that there was a cryptocurrency growth to the level of $ 8,000 less than a month ago.

During the bidding process the bitcoin rate fell to the level of $ 7,290. What was the reason of the fall? Analysts believe that the decision of the Hong Kong Stock Exchange OKEx to forcefully liquidate a very significant position – 4.2 million contracts with a cost of $ 100 each – could have influenced the behavior of the asset so strongly.

Representatives of the OKEx exchange in Hong Kong tried to contact the holder of this position, although the attempts failed. That’s why to align with the risk management policy, there was made a decision to forcefully close this position.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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