The price of bitcoin fell below $ 3500

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The exchange rate bitcoin dollar ( BTC / USD ) fell to a new four-week low of 3,413 dollar this morning after reports that a Shanghai-based bitcoin exchange BTCC stop its internal trading operations from September 30.

Thus, ad is the latest that supports rumor’s that the Chinese authorities are preparing an official ban on domestic bitcoin exchange. Long liquidation operations in the market of BTC is gaining momentum amid fears that official confirmation from the people’s Bank of China will follow in the next few days.

According to CoinMarketCap , bitcoin price has lost 11 percent over the past 24 hours. The decline observed today, we have reduced losses on the week to 24 percent. For the month, the cryptocurrency fell by 19 percent.

Despite the fact that bearish news flow has decreased, the sale should not be surprising, since the analysis of price effects favors the reduction to $ 3000.

  • Yesterday’s drop in prices accompanied by the highest volume since July 20. This indicates that the sale has its own identity and confirms the bearish sentiment.
  • Bitcoin closed below the 50-day moving average for the first time since July 20.
  • Level Fibonacci retracement 38.2% has been broken. The 50% Fibonacci retracement level is 3 398 dollars.
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