Crazy Friday for cryptos - bitcoin lost 15% before bouncing

The crypto-currencies live on a crazy Friday, the bitcoin fell to 7700 dollars before rebounding.
Ethereum, litecoin, cash bitcoin and ripple followed the same curve.
Concerns about regulation, the banning of ads on Facebook, and surveys of the cryptocurrency Tether have hurt the sentiment of investors.
Crypto-currencies strongly oscillated Friday, February 2. A sharp fall in the morning was followed by a rebound in the afternoon.

Friday morning, the price of all major cryptocurrencies fell more than 15% following the passage of bitcoin under the 9000 dollars Thursday.

Neil Wilson, a senior analyst at ETX Capital, explains by e-mail: "The wheels are coming off the bitcoin wagon."

"The regulatory crisis seems closer than ever, and sooner or later this market could come back to earth, and the pressure to sell is intense right now because bad news is coming in for bitcoin."

Bitcoin went down to $ 7,700, losing 15% of its value. Other crypto-currencies fell even more, the ethereum losing up to 23%.

In the afternoon, prices rebounded sharply and at 17:51 Paris time, its price is stable compared to the beginning of the day, up 0.1%. If there is no known trigger for this rebound, it coincides with the start of the day on the east coast of the United States, suggesting that US traders have taken advantage of low prices to buy.

Here is the state of the main crypto-currencies shortly after 17:51 Paris time, Friday:

Bitcoin: + 0.1% to $ 9097.
Ethereum: -6.08% to $ 962.91.
Litecoin: -5.5% to $ 133.5.
Bitcoin Cash: -3.12% to 1228 $.
Ripple: -0.73% to $ 0.94.
The crash was so important that with the exception of two of them, the top 50 crypto-currencies fell by more than 15%.

At the height of the fall, the market value of all outstanding crypto-currencies rose from just over $ 500 billion to $ 375 billion in 24 hours, as shown in this CoinMarketCap chart:

CoinMarketCap.com

Capitalization is an inexact measure for cryptocurrencies (as Sam Jacobs of Business Insider Australia explains), but it gives a good idea of ​​the size of the divestments.

The cryptocurrency market has been in difficulty since the beginning of the year, because of the fear of a repression of the regulators and the fall of the volume of the exchanges in Asia. The value of bitcoin is now at half its December peak, when it has exceeded $ 19,000.

Other sources of concern have emerged in the sector this week, such as Facebook's intention to ban crypto-currency advertisements and the US authorities' investigation into Tether, a cryptocurrency that some believe may have been used to inflate the bitcoin value.

The Indian finance minister also announced this week that the Indian government "does not consider crypto-currencies to be an official currency or currency and will take all necessary measures to eliminate the use of these assets in financing activities. illegitimate or as a payment system. "