Bitcoin exchange rate began Friday with a growth of 5.50% over 11 000$
Bitcoin exchange rate began Friday with a growth of 5.50%, breaking the threshold of $11,000. After BTC began to grow and altcoins, but the top 10 coins exhibit more modest growth, which seems unsustainable.
All the current week, the cryptocurrency was sideways. Pressure on the market was rendered by news that the Chinese authorities continue to eradicate all the possibilities for investing in cryptocurrency. Bank of China wants to block access to sites that provided services to invest in crypto currencies abroad.
It also became known that the Commission on securities and exchange Commission (SEC) from the monitoring of moved to action: start-UPS, and even advising their lawyers had received summonses. The largest us exchange Coinbase has sent notification that the personal data of the traders was handed over on demand to the tax service of the USA.
The governments of the countries with the highest contribution to the stock market, particularly the US, China, Japan and South Korea, realized the scale of what is happening and are actively working to develop principles for future regulation. Market, the main principle of which was anonymity, sees what is happening as the calm before the storm. In such a situation, a sideways trend or a small reduction is the minimum possible negative reaction.
In the spring, many traders and investors are waiting for a new rally (Pampa). The problem is that if it is not, the market can throw at the other extreme: the cryptocurrency bubble may burst, and the failure will be devastating. Market phase saturation can rapidly slip into depression.