After several unsuccessful attempts to exceed $10,000, the exchange rate of bitcoin fell back to $8400. What could be the cause?
No matter how it was strange, after the release of the statements of the vendors of Nvidia, before the searches in the office of one of the largest kryptomere Upbit, it was possible to notice a slight decline in prices. In the first quarter of 2018, the share of revenues from the sale of GPU miners has increased significantly: on the needs of the stock market it earned $289 million, but in the next quarter is expected to fall revenues to $100 million that has already been negatively perceived by traders. Causing dipped as shares of Nvidia and the value of the cryptocurrency. If we add to these two reasons, the rumors (which were not confirmed) about a possible start of a new sales Manager MtGox (crypto currency exchange currently going through bankruptcy), the price collapse particularly should not be surprised.
Meanwhile, bitcoin continues to spread: the online-Bank from Germany Bitbond has declared readiness to make loans around the world, using for translations of the bitcoin as an intermediate currency. According to the organization’s founder Radoslav Albrecht, “payments in traditional currency are quite expensive and can take a few days, then how to use the cryptocurrency much easier”. Thus, the device will bypass the Swift system, to which access can be blocked for any country at the request of the United States.
The recent correction drove the quotes generated in the last week’s support levels, but they still remain significantly above the lows of early February. The course once again, moving in a narrow range, and, in the absence of surprises, you can expect it to strengthen to above $9000 that will be a good tool for growth with goals of $10,000 and $11,500. The appearance of the next negative on the market can lead to the sale of the coins, causing the price could fall below $7700 and continue to decline to the levels of mid-March — $6500.