Cryptocurrency February 5 Crash

Cryptocurrency February 5 Crash

Why and How Cryptocurrency February 5 Crash Happened

As of the time of writing this article, Cryptocurrency markets have crashed to an unbelievable Latitude. Markets crashed down down down down. in my Last article Cryptocurrency FX Weekend Rates which was written yesterday, 4th February 2018, I had said the weekend experience a huge crash with Cryptocurrency exchange rates falling to

Bitcoin  in different currency Rates – Cryptocurrency FX Weekend Rates

1BTC= USD $ 9,438.22

565.35 (6.37%)

Cryptocurrency February 5 Crash

Crypto FX Rates POUND = £ 6,736.33£

510.87 (8.21%)

Crypto FX Rates EURO =  7,572.13

468.50 (6.60%)

Crypto FX Rates CHF ( Confoederatio Helvetica Franken of Switzerland and Liechtenstein )  = CHF 9,071.79

CHF -52.33 (-0.57%)

Crypto FX Rates  NAIRA NGN 3,393,249.1

NGN 216,401 (6.81%)

ETHEREUM   in different currency Rates – Cryptocurrency FX Weekend Rates

1ETH= USD $ 983.55

Recovery Rates $ 66.08 (7.20%)

Crypto FX Rates POUND = £ 716.18

Recovery Rates £ 53.14 (8.01%

Crypto FX Rates EURO = € 792.66

Recovery Rates € 55.65 (7.55%)

Crypto FX Rates CHF ( Confoederatio Helvetica Franken of Switzerland and Liechtenstein )  = CHF 942.69

Recovery Rates CHF – CHF 5.41 (0.58%

Crypto FX Rates  NAIRA NGN 354,594.5


Recovery Rates NGN 2,035.95 (0.58%

Bitcoin(BTC)
9327.2
7.76%
Ethereum(ETH)
973.764
9.11%
Ripple(XRP)
0.931669
10.67%
Bitcoin Cash(BCH)
1274.1
8.51%
Cardano(ADA)
0.44044
23.16%
Litecoin(LTC)
159.558
26.17%
NEM(XEM)
0.635164
13.03%
IOTA(MIOTA)
1.99311
12.32%
Dash(DASH)
638.996
12.86%
Monero(XMR)
254.375
8.09%

As of Today, Monday, 5th February 2018, something worst than a crash was recorded. This was beyond comprehension to any expert. Cryptocurrency experts could not have seen this unbelievable crash. However, we cannot even predict what the rates may read tomorrow, after we discovered a shocking revelation by Cryptocompare.

Also read my article on HISTORY OF BITCOIN CRASHES


The Revealtion on Market Update

Over 15.7% in the last 24 hours. More than $1.6B worth of BTC were exchanged in the BTC/USD market representing a 30% share of daily volume. The BTC/JPY pair that represents a 48% share.

Market Update

At the time of writing, the Bitcoin price is sitting at $7,132 representing a loss of 15% in the last 24 hours. More than $1.6B worth of BTC were exchanged in the BTC/USD market representing a 30% share of daily volume. The BTC/JPY pair that represents a 48% share.

possible reasons Cryptocurrency February 5 Crash

Bank of America and JPMorgan Chase will reportedly no longer enable customers to purchase Bitcoin with credit cards starting in February, reports say. Revealed in the 2nd of February, in a Bloomberg report, JPMorgan is expected to start this ban due to concerns about the credit risk of those who make purchases through their cards. The Bank of America ban is limited to credit cards, and will not impact customers who wish to purchase cryptocurrencies using debit or ATM cards, according to the news source.

Bloomberg further reported that the Bank of America cited anti-money laundering regulations for the move, as well as the potential for thieves to convert stolen credit cards into cryptocurrency stashes. Like JPMorgan, Bank of America is also concerned with the idea customers can purchase more cryptocurrency than they can afford. Other banks have purportedly moved to increase charges for crypto transactions in recent weeks.

 

As of today the Bitcoin, Ethereum, Litecoin Dash, Ripple etc stands at a very scary level.

# Coin Price Direct Vol. 24H Total Vol. 24H Market Cap 7d Chart (USD) Chg. 24H
1

Bitcoin
BTC

$ 7,055.20
$ 2.10 B
$ 5.41 B
$ 118.86 B
-15.72%
2

Ethereum
ETH

$ 687.67
$ 994.22 M
$ 1.97 B
$ 67.00 B
-20.00%
3

Ripple
XRP

$ 0.6782
$ 224.11 M
$ 729.25 M
$ 25.98 B
-18.84%
4

Litecoin
LTC

$ 124.71
$ 291.37 M
$ 548.70 M
$ 6.87 B
-16.77%
5

Bitcoin Cash / BCC
BCH

$ 910.78
$ 81.96 M
$ 294.10 M
$ 15.44 B
-20.97%
6

EOS
EOS

$ 7.44
$ 56.17 M
$ 195.65 M
$ 7.44 B
-19.22%
7

NEO
NEO

$ 81.79
$ 45.25 M
$ 161.07 M
$ 5.32 B
-23.67%
8

Tronix
TRX

$ 0.03138
$ 1.32 M
$ 99.60 M
$ 3.14 B
-16.05%
9

Ethereum Classic
ETC

$ 16.99
$ 22.65 M
$ 88.50 M
$ 1.69 B
-21.09%
10

Stellar
XLM

$ 0.3157
$ 7.00 M
$ 67.39 M
$ 5.82 B
-18.21%

Look at this table and compare it to my yesterdays Chart, you will agree this is a terrible Bitcoin Bubble recorded ever in the History of Bitcoin Crashes


Bitcoin Crash February 5 History

Cryptocurrency February 5 Crash

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