Bitcoin exchange rate: Guarantor Mt. Gox was organized by the collapse of the cryptocurrency
The Guarantor Mt. Gox sells bitcoins again, which caused another wave of sales on the stock market. This time in the early European session was sold 8,214 BTC at the exchange rate at the time of writing is $72.2 million in the cryptocurrency Market immediately responded with a large-scale correction. At the time of writing bitcoin is losing in the last 24 hours almost 6% and is currently trading around $8,800. All altcoins of the TOP 10 in the red zone, losing 8% (Ethereum) to 18.5% (Cardano).
Among the factors pressure you can also select a loud populist statements Buffett and failed attempts to overcome $10,000. It is unlikely that these factors can sway the mood of bitcoin enthusiasts. Analysts Fundstrat and does predict a rise in the reference cryptocurrency to $36,000 by the end of 2019.
Directly bitcoin negative factor may be the loss of market share. At the moment BTC has a 37% market share of crypto currencies, while on 1 April 2018 it was 45%. On the other hand, increasing the share of “other” cryptocurrencies: from April 1 until now, it has increased from 20.50% to 25.5%. In the “other” category does not include major altcoins, which indicates the flow of funds into new projects.
Also news that Facebook builds a team to develop their own blockchain with the primary purpose of the decentralised storage of personal information, as well as speculation regarding the possible launch of its own cryptocurrency that can support the growth momentum of the overall market in the medium term.
In the community waiting for the spring rally, the current correction may be short-lived due to the effect of the sale of assets of Mt. Gox. Geopolitical tensions with the US withdrawal from the deal with Iran might also encourage the inflow of funds from the traditional sector.