Bitcoin exchange rate: an Increase of 5% was a false signal to the market
Stock Markets Group – bitcoin exchange Rate stopped increasing and is in no hurry to move above 6 $ 500, even given relatively favorable external background.
Experts continue to search for the reasons for the sudden rise in Bitcoin value and say that such behavior’s most popular cryptocurrency could be caused by opening a buy position with high volume.
Given the low liquidity of the stock market in the summer, to create the conditions for short-term movements is very real.
The bitcoin exchange rate remains close to a first intermediate resistance (slow line of Ichimoku indicator) and currently has no possibility of breaking higher.
Most altcoins top ten highlighted in green. So the Bitcoin exchange rate Cash went up by 0.57% and is at level of 760$ with capitalization 13 127 billion.
The Ripple rate has appreciated by 0.76% and reached $ 0.48$ at market capitalization 19 183 billion. Ethereum increased by 1.05% and reached 466$ in market capitalization 47 076 billion.
14:15 GMT., major exchanges show the following values of the rate BTC/USD:
Bitstamp – $ 6 524 (+0.25%)
Bitfinex – $ 6 524 (+0.17%)
Coinbase – $ 6 531 (+0.21%)
The Bitcoin market capitalization currently is $112 285 billion Total capitalization of the stock market 231 602 billion.
Bitcoins are exhausted and no longer growing
The news for bitcoin remains calm, unless you consider a little incident that occurred on the stock exchange Binance, which suspended operations due to abnormal transactions.
Distributed network Syscoin reported problems in the cryptocurrency space and has asked the exchange to stop trading crypto-currency SYS. Later it became known about detection of “atypical trading behavior koina for blockchain network.”
The crypto currency exchange the first to respond to this warning, as the share of Binance account for more than 85% of the total turnover cryptocurrency SYS.
Besides, at some point the price of a token has reached 96 BTC. It is not known how many of the exchanges managed to produce the marketplace at such an unusual rate, but the network reported a fairly high activity of transactions in this time.
Sebastian Dimichele, co-founder of Syscoin on this incident noted:
“I confirm that the course token sold today for a’ 96 bitcoins. We also observed high activity in the network, and we know from the reports of the crypto community about the problems with deposits on Binance in this period”
In the same crypto currency exchange retaliated and announced the suspension of all operations of exchange and trade, so how will be the maintenance.
The reaction of bitcoin after the news appeared, was very restrained and did not affect the dynamics of exchange rate cryptocurrency and other alternative instruments.
In turn, the Syscoin price has skyrocketed for some time, two times, and then again returned to the area of 0.25 dollars per coin.
Bitcoin exchange rate today
In the course of today, we do not expect sharp movements in the stock market. Bitcoin remains in a narrow range 6 000- 6 500 dollars per coin. Given the previous price fluctuations, the market likely took a pause to the movement.
We will remind that a day earlier, the cost of bitcoin per day increased by 5%, while market capitalization has increased by $ 10 billion.
We expect that after such significant growth, the digital asset will decrease again in the region of 6 000$. Where most likely will attempt growth, but more global, in the region of 7 000$-7500$.
Positive for the market and for bitcoin in General is that the digital coin manages to stay above the psychological mark.
Until such time as the asset will not go below it, buyers are in no danger and “bears” need more support to offset the sentiment to sales.
In our opinion the most optimal entry into the market can be considered a time when the Bitcoin exchange rate will return to around $ 6,000.
Market analyst cryptocurrency
Stock Markets Group™