Bitcoin exchange rate: Growth above 8, 000 dollars is difficult, but the Outlook is
Stock Markets Group – bitcoin exchange Rate today remains near the new resistance 8 $ 400, stubbornly making his way higher.
The cryptocurrency market is gradually reviving, and the activity of buyers increases the market capitalization of the Bitcoin market, giving a new chance to the most popular cryptocurrency in the world again to set a record.
However, the experts ‘ forecast is not as optimistic and many analysts are already talking about what new trend is already exhausted and further growth of the digital asset is under a big question.
In particular there is a view that the previous positive bursts, which increased the price of bitcoin was the usual manipulation, and today there is no reason to demand in the market remained so high.
This could be acceptable, if not some positive developments coming to the market during the week, which could be the main drivers of growth.
Other cryptocurrency in the top ten show a small increase. So the Bitcoin exchange rate Cash increased by 0.22% and is at 833 $ for capitalization 14 382 billion. The Ripple rate has strengthened by 0.13% and reached $ 0.45$ at market capitalization 18 071 billion. Ethereum has appreciated by 1.28%, and amounted to 477$, with market capitalization 48 234 billion.
22:55 GMT., major exchanges show the following values of the rate BTC/USD:
Bitstamp – $ 8 229 (+0.68%)
Bitfinex – $ 8 235 (+1%)
Coinbase – $ 8 227 (+0.81%)
The market capitalization of Bitcoin at the moment is $141 329 billion Total capitalization of the stock market 276 797 billion.
The exchange rate of bitcoin is growing on expectations of large investments
Institutional investors, which puts the cryptocurrency market, will be able to strengthen its position as the most popular asset in the medium term. The hope that fresh money will soon come on the market, not unfounded.
So the largest cryptocurrency exchange Binance considering entering into the South Korean stock market. In his speech at the summit of “Blockchain Partners” held on 21-22 July, the General Director of the trading platform Chanpen Zhao noted the importance of the Korean market and expects to profit after it.
To study this possibility, the company even hired employees from South Korea to the position of Director of marketing and Director of the Binance Lab.
Recall that recently became aware of the fact that the South Korean authorities intend to relax the rules of cryptocurrency regulation that apparently was the reason for such training and the consideration of the market of the country as a promising project.
Cryptocurrency exchange BitMEX unexpectedly reported an increase in trading volumes of more than 1 million bitcoins per day. According to the report, the company broke its previous record which was at the level of 800 000.
In this regard, Arthur Hayes, CEO and co-founder of the exchange, said:
“The astronomical growth in trading volumes in conjunction with the growth rate of bitcoin confirms an increasingly sophisticated understanding of the market potential of cryptocurrencies. Turnover up to 1 041 748 million BTC per day is made possible in part by scaling network BitMEX. This record is an important achievement in the General maturation of kriptonyte”
Hayes also thanked users for using shopping apps, which helped to attract more people to the stock market.
According to statistics, in the month of July the exchange rate of bitcoin has increased nearly 40% compared to the previous month and it’s a good growth for the digital asset, which is undergoing according to experts, the most difficult period of formation.
However, in our opinion bitcoin will start a new fiscal year with completely different goals and dynamics. Digital currency, becomes more attractive for big players, and they are more willing to use it as a protective asset in times of uncertainty in other financial markets.
Bitcoin exchange rate today
Digital asset rested in the next resistance, located around 8400 dollars. For her breakthrough required new drivers, and most likely in the near future bitcoin will get them.
While you can only state the fact a short stop cryptocurrency before the next breakthrough.
However, in the current environment one cannot rule out a small pullback the Bitcoin prices to their previous levels of support.
The rate of bitcoin will continue to grow and overcome yet another milestone. In this case the next target is the mark of 9 000$. Further quotations will go higher in an area of important psychological level of$ 10 000. The current situation on the market is biased towards the bulls and in the coming days we expect the intensification of shopping on the cryptocurrency market.
The negative scenario
The option of a slight decline in the exchange rate of bitcoin is also possible, but the correction from the current level of 8 400$. In this case, the target will be district 7 $ 400, where the moving average.
However, even in this case, after a technical retracement we see a high probability of resumption of growth of the cryptocurrency.
Market analyst cryptocurrency
Stock Markets Group™