Bitcoin exchange rate Investors are preparing for the collapse of the cryptocurrency below 6 000$
Stock Markets Group – bitcoin exchange Rate today concluded a seven-day collapse of a small fortification, in an attempt to start from a minimum of $ 6 000 that price two days ago, successfully tested the second time this year.
However, a slight increase in value of Bitcoin unconvincing and rather similar to castling buyers and preparing sellers to the new breakthrough down.
Last week was one of the biggest loss popular cryptocurrencies, and have led to a significant outflow of capital from the market of cryptocurrencies in General.
Experts continue to wonder why the SEC decision, which is not final, disappointed the market and sent the bitcoins to the annual lows.
Some are of the opinion that it was postponed in turn, the arrival of large institutional investors, and without this the most popular asset will not be able to stay in its current trading corridor.
Recall that only last week the market capitalization of digital coins fell to 9 month low, reaching in the time stamp 223 of 543 billion.
Today, the most popular cryptocurrency show a small increase. So the Bitcoin exchange rate Cash rose by 2.3% and is at level 576.42$ capitalization 9 949 billion. Course Ripple added 1.36% and reached $ 0.3021$ in market capitalization 11 913 billion. Price Ethereum increased by 1.75% and reached 323.64$ in market capitalization 32 835 billion.
At 19:25 on Kiev’s main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 317 6 (+1.23%)
Bitfinex – $ 6 328 (+1.37%)
Coinbase – $ 326 6 (+1.22%)
The market capitalization of Bitcoin at the moment is $109 501 billion Total capitalization of the stock market 199 977 billion.
The exchange rate of bitcoin is often unreasonably high
Crypto-currencies remain vulnerable to manipulation, including the popular bitcoin. This is stated in the study by two economists from Yale University Oleg Sivinskogo and Yukun Liu.
The work, entitled “the Risks and profits of cryptocurrency” published recently confirms the fact that very often the exchange rate of bitcoin and other popular token does not correspond to the macroeconomic background.
The study also shows that the macroeconomy overall has virtually no impact on the pricing of digital assets, as, for example, this occurs with the shares currencies or commodities.
To identify factors that influenced on the course, the researchers conducted an analysis of historical data, Bitcoin, Ripple and Ethereum. And it turned out that only two of them, this “momentum Effect” and “Impact on investors”, and they can be used to predict what will be the price in the following periods.
As it is noted that to determine trends in the market you must keep an open stance on bitcoin less than a week and only after that to sell or to take profits.
Interesting was also the fact that the increase in the number of queries associated with “Bitcoin” or “Ethereum” in the Google search engine, is a good signal to change the dynamics of exchange these cryptocurrencies in the future.
However, this feature has another side, which indicates that apparently, before big players bet on the rise or fall of exchange rate of bitcoin, the Internet appears inside or “news noise”, which is a few days before.
Thus, it appears that information surrounding the token, plays a much greater role in pricing than fundamental or technical factors.
According to analysts, the situation may change only after the market will be large investors with large capital, able otkrytki positions to smooth out the information “stuffing” rock the markets today.
Investors ‘ attention is often focused on the news, which directly or indirectly could affect the popular cryptocurrency such as bitcoin. The rest of the tokens most often follow the General trend of digital assets and only enhance the effect.
There are also times when the opposite occurs and the effect of many popular tokens gain momentum rise or fall of the other less popular coins.
Experts note that despite the growing maturity of the market manipulation and unreasonable rate volatility remain major problems which hinder the financial world to accept the digital assets to the fullest. And the last decision of the SEC only confirms the care with which regulators approach this issue.
Bitcoin exchange rate today
A slight increase observed at the last day of the week, in our opinion will not receive the further development on Monday. Technically it is possible to explain the usual closing of positions at the purchase and exit from the market of a large part of the active participants.
Bitcoin exchange rate fully reversed the previous two months, growth started at the end of June, confirming our previous forecast and is likely to continue to fall towards new lows.
Today there is nothing that would interfere with sellers to organize the next wave of sales and to break through the important psychological level of $ 6,000. By the way, bitcoin is the last frontier, restraining him from serious subsidence in the area of 5 000$.
In the current situation, we only consider the negative scenario as the most likely, as the panic that prevailed in the week, confirms the fear of investors prior to any changes in the external background.
If the value of Bitcoin will continue to fall, the first target in this case will be around 5 800$, which is the digital asset for the first time tested the 6 February of the current year. Further decline may continue in the district 5 400 dollars, and that does conclude the global growth of bitcoin started in December.
The market situation is in favor of “the bear” and any attempt “bulls” to organize the rebound, the first one is used for the most profitable entry.
For organization of the positive scenario, bitcoin will need a strong momentum, and only the ability to hold above $ 7,000, will provide an opportunity for buyers to stop the decline of the bitcoin exchange rate below expected bottom of $ 6,000.
Market analyst cryptocurrency
Stock Markets Group™