Bitcoin exchange rate drops after a trial test level of 10 000 dollars
Stock Markets Group – bitcoin exchange Rate highlighted in red after the barrage of criticism before and negative statements financial experts. The Bitcoin price has weakened after a steady growth the day before and sure latest test important psychological mark of $10 000.
15:05 GMT., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 9 295 (-3.4%)
Bitfinex – $ 9 299 (-3.8%)
Coinbase – $ 9 287 (-3.9%)
The market capitalization of bitcoin at the moment is $158 523 billion.
The exchange rate of bitcoin is based only on the investor demand
His negative position on the most popular crypto currency once again confirmed Warren Buffett at the annual Berkshire Hathaway meeting.
Cryptologist “bad finish” and “bitcoin is probably a poison in the square.” Recall that the billionaire investor is acting repeatedly in his remarks warned the supporters of Bitcoin that any financial asset must have a quality content and only in this case is bound to succeed in investing.
He this time, answering the question of one of participants of the meeting criticized the most popular cryptocurrency and noted:
“Bitcoin is not an investment asset like corporate stocks or other resources. The only factor influencing the exchange rate of bitcoin is investor demand, which makes this cryptocurrency convenient for the charlatans. This could end badly after the euphoria will pass”
We will remind also that earlier Buffett in 2017, when the most popular cryptocurrency was at the peak of its ascent, one of the first called bitcoin a “bubble”
However, such predictions on bitcoin sounded repeatedly as in the beginning of the creation of the cryptocurrency, and throughout the intervening time, and this has not led to the collapse of the asset.
Moreover, many large banks have softened their attitude to bitcoin, and in the pursuit of competition even provide their clients with Analytics and recommendations for the cryptocurrency market.
For example Goldman Sachs, the Bank which has previously noted the failure of bitcoin to become a full-fledged investment asset, recently announced the addition of the listing of trading tools based on it.
Approximation of the price of the digital coins to the psychological level only confirms the fact that despite the ongoing attacks on bitcoin and the criticism, the market does not change his attitude to the future of bitcoin in the long term.
Bitcoin exchange rate today
Over the last week bitcoin was able to hold back the onslaught of sellers and to remain within reach the important goal of $10,000.
However, the growth that started from April 10 in all probability requires a more substantial correction value of bitcoin to punch important level.
The current situation in the cryptocurrency market remains favorable for buyers, and the technical reversal will not last long.
The rate of bitcoin will continue to rise after a rebound from current levels. In this case, the fight will go close to the important mark of $10,000. The main challenge for buyers is securing the bitcoin prices above the specified level by another 100-200 points. Otherwise, the break out level will be about the cost of crypto currency will resume its decline.
Intermediate support in case of a fall stands a moving average which is near $9 000.
The negative scenario
The rate of bitcoin will continue to fall and cross the mark of $9 000. In this case the next target sellers will be the mark of $8 500 where the slow line of the indicator Ichimoku.
It is to be noted that the fall of bitcoin prices below this level could trigger a new wave of sales and a drop in cryptocurrency in the neighborhood of $7 500.
Other cryptocurrencies fall together with the main asset within 3% – 7%. So at the time of writing, the Ripple rate fell to 5.96%, Bitcoin Cash rubbed Yal 10.34%, and Ethereum weakened by 10.97%.
Total market capitalization of cryptocurrencies at the moment is 366 560 billion
Market analyst cryptocurrency
Stock Markets Group™