Tired bulls: the price of Bitcoin fell to a 10-day low!

On the night of Tuesday, August 22, the price of bitcoin, having held most of Monday at around $ 4,000, swiftly went down, dropping below $ 3,700. Last time at this level the first crypto currency was traded on August 12.

Image Credit: Youtube 

The weighted average bitcoin rate at Coinmarketcap was $ 3,682, while on some exchanges it fell even lower. So, on Bitstamp the rate went down to $ 3600, on Bitfinex - to $ 3599. Thus, in the last 24 hours bitcoin has fallen in price by about 10%. The market capitalization of bitcoine at the time of publication is estimated at $ 61.5 billion. 

It is worth noting that a number of traders are of the opinion that the bitcoin rally, during this year's crypto currency grew by 350% and earlier this month reached up to $ 4,500, , Its peak.

So, in a comment to the publication of CoinDesk BTC VIX, the administrator of the group of traders Whale Club, drew attention to the fact that over the past few days bitcoin, having reached its peak before it, fell at least four times below $ 4000. In his opinion, this may be a sign that in the short term the market is not too keen to push the price up. 

"Bulls are tired," he concluded: 

Recall, on Wednesday, August 23, the activation of the Segregated Witness protocol is expected, a solution aimed at further optimizing and scaling the bitcoin network.