BTC Update 10th Sept

Update curtiousy of PAID TRADING (DZ871)

​​📈 # BTC

The weekly maximum was set on Tuesday, when the price tested the middle line of the rising channel and recorded the highest value at 7411. At that time, Bitcoin's capitalization reached $ 127 billion.

The fall in prices began on Wednesday and was so dynamic that in one day the BTC lost everything that it was possible to "save" in almost two weeks of growth. The main reason for the sale is the transfer of a large amount of crypto assets (equivalent to $ 840 million) from the purse associated with SilkRoad to the Bitfinex and Binance exchanges.

Another fundamental reason that negatively affected the market sentiment was the news about Goldman Sachs' refusal to open its own trading platform for crypto assets. As it turned out later, this news turned out to be fake, but after the refutation, cryptology did not recover. Consequently, either the ratchet principle worked, or the news had no effect on the price drop.

At the moment, Bitcoin has fallen to a dangerous point, close to annual lows. Saturday's decline delayed a well-traded level at 6100. The mood remains bearish. It is possible to test the annual lows in the coming days or even hours.