Half of July and the end of July.
Volatility appeared to decrease when the price of bitcoin settled around $ 650 by the middle of July. The scenario changed later in the month, after the outbreak of a series of events that put the price down.
The first major event was the closed-door meeting between the leading Chinese mining and Bitcoin Core developers. There were several speculations about the agenda of the meeting, especially those related to the expansion of the size of the transaction blocks, improvement of governance mechanisms and the next steps that should be taken to implement improvements in the protocol.
(provided by Bravenewcoin)The month of August.
August began with the prices low in key markets, rapidly reaching a level of US $ 600 and coinciding with the suspension of negotiations on Bitifinex due to the attack that stole 120,000 bitcoins.
This episode was the second major attack in the history of bitcoin, surpassed only by MtGox case in 2013, with 650,000 bitcoins. The Japanese brokerage filed for bankruptcy and was the main trigger for the melting of prices in 2014.
The problems of Bitifinex generated panic in the market and the price sank by more than 20% in the international market to $ 480. The price peaked quickly, recovering some of the losses to the current level around $ 570.
Meanwhile, Bitfinex works with the expectation to resume activities until Sunday, but there are still more details on how to give the reopening of the market and the reimbursement of bitcoins stolen in the attack.
According to BlockCypher, about half of hacked bitcoins was diverted to above 10 bitcoins transactions, making it difficult to identify the other half used smaller transactions.
Remember that on July 21 the Bitifinex platform went off the air twice in the same day, which sparked a warning sign on the market. Representatives of the brokerage in Hong Kong claim that events are unrelated and that no customers have been affected at the time.
Nevertheless, problems with the brokerage system has accumulated in the last year and started to act as a risk agent, since the Bitifinex platform offers a number of leverage service, swap and serves as a major market settlement tips .
Other important factors that explain the recent bitcoin price fall is the natural movement of profit taking by investors who bet on UK output as an increase in the demand factor for bitcoin and the immediate impact of halving occurred on July 9, which reduced by 50% the reward of the bitcoin miners.