When the price of bitcoin dropped more than 1000 dollars to convert the crypto money market into a "Bloody Sunday", many names attributed this decline to the hacking of a small crypto money exchange in South Korea. However, eToro's senior market analyst, Mati Greenspan, says the claim is wrong.
Two days ago South Korea-based crypto-money stock Coinrail was attacked by hackers.
Later that day Bitcoin prices began to fall with other major crypto currencies.
Greenspan told CCN, "There is absolutely no connection between hacking a local, boutique crypto money market and declining Bitcoin by $ 1000," he said.
Greenspan said that his words were followed by a very small decline following the attack, and that most of the fall came after 15 hours of attack, and that the scale of withdrawal was entirely disproportionate given both the aggression dimension and Coinrail's crypto-eco-
The Bitcoin price is expected to reach higher levels with the emergence of institutional investors in the long run, but analysts say that this is a technical correction, but Greenspan pointed out that Bitcoin price is below the long term trend line and approaches two important levels of support.
Greenspan says, "For now, the big money is likely to remain on the edge and the developing pi they will wait for the moment to build momentum as they do at the end of 2016. I think we will have to wait and see if it will happen in a year or a week. "
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