Bitcoin rate collapsed after Chinese ICO ban
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After Saturday news about the ban of ICO in China, cryptocurrency exchange rates began to fall, including Bitcoin. Already by the morning of Tuesday, September 5, BTC rate fell below $4 000 — for the first time since August 22.
At Bitfinex platform, Bitcoin fell up to $3 900, but later the situation improved somewhat — the price reached $3 960. The situation on the Chinese platform OKCoin is even worse: the price has dropped to $3 800.
The U.S. and European exchanges are trying to keep the exchange rate at $4 000 mark: Bitstamp managed to save the BTC price at $4 001, Gemini — at $4 012. The situation is better for Kraken and GDAX — $4 140 and $4 234 respectively. However, at Bittrex, the price has already fallen up to $3 988, although later on, it grew to $3 956.
Source: Coinmarketcap
As a result, an average exchange rate around the world fluctuates around $4 034, while Bitcoin capitalization stays at $66.7 billion.
Ethereum, Litecoin, Dash and Monero have also fallen significantly. In just a few days, worldwide capitalization decreased from $160 billion to $137.1 billion.
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