Bitcoin exchange rate losses increased compared to dozens of prosecutions SEC
Stock Markets Group – the exchange Rate of bitcoin on 18 March never ceases to amaze its negative fuse. Even given all the previous risks associated with bitcoin, such a reaction on the market too long.
Bitcoin is still the most popular cryptocurrency in the world, and yet, the first by market capitalization. But, how long will it stay in the lead, the big question today. The expert forecasts that the digital coin this year will reach the previous highs, and even more, no longer look plausible. However, there are still those who believe in the stability of bitcoin and calls it digital gold.
14:35 GMT., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 7 700 (-2.05%)
Bitfinex – $ 7 688 (-7.0% %)
Coinbase – $ 7 703 (-2.03%)
The market capitalization of bitcoin at the moment is $134 789 billion.
The bitcoin exchange rate is undervalued by critics
Critics of cryptocurrencies and their ardent supporters continue to compete in declamation, announcing new forecasts for the future of bitcoin and digital assets.
Co-founder of the venture capital Fund Founders Fund and co-founder of PayPal, Peter Thiel in an interview with CNBC confirmed confidence in the future of bitcoin, and named the asset “digital gold”.
The investor noted that in the end cryptocurrency will be used not for a living, but to hedge risk and just how valuable asset like precious metals.
“Bitcoins are like gold bars that are physically not moved, but their existence is well known. It’s like global hedging instrument in the period of instability”
He also expressed confidence that the exchange rate of bitcoin to remain stable as capitalization, comparing it with other cryptocurrencies.
However, he believes that the probability that bitcoin will lose its current value is in the range of 50% -80%. According to experts, now is a good time to invest, and he is optimistic about the future development of cryptocurrency market.
As you know, in the month of January, the hedge Fund Thiel bought bitcoins worth about $ 20 million, which confirms its confidence in the future growth rate.
However, not everything is made up of digital coins. After the US authorities involved in the process of regulation of the market, and found numerous violations, information about the new investigation does not cease to put pressure on the cryptocurrency.
So according to Bloomberg, during his speech, the co-chair of the group of SEC enforcement proceedings Stephanie Avakian, noted that the Agency is investigating dozens of industries associated with cryptocurrencies and ICO. She said that the SEC’s activity in this direction will increase with the emergence of new violations.
The aim of this unit is the investigation of illegal activities with the digital asset, paying particular attention to transactions with tokens.
Work in this direction started last year, however, review reports of startups that use ICO to attract investment, appeared only in the beginning of March.
Bitcoin exchange rate today
In the last 12 hours the price of bitcoin has lost about 3%, but the activity of sellers has decreased significantly. This is a technical factor that is associated with the exit trades those who is preparing for a meeting of G-20 and is afraid of new failures of players from the bitcoin after the meeting.
The rate of bitcoin will not be able to consolidate at the current levels, as the first possible support stands at $7 000. Up to this point to expect significant changes in the market sentiment is not worth it. After this mark is reached, the price of bitcoin can turn around and start rising. In this case, the $8 000 appears to be the first goal, and then the rate might go to $9 000.
The negative scenario
The balance of power on the cryptocurrency market today is biased towards sellers. Market sales slowed, but the growth rate of bitcoin is not enough. Until Monday, players will remain out of the market, which will stimulate the weakness of the cryptocurrency in the next 12 hours.
The first purpose to which the price of the digital coins will strive to be in the neighborhood of $7 000. In this level you can temporarily stop will be resumed the struggle of buyers and sellers. If the latter is stronger, the next target will be $6 000.
Courses cryptocurrency in the top ten as well remain in the red sector and continue to suffer substantial losses. In the last 12 hours the Ripple has lost 6.15%, and Ethereum retreats almost 10%. In General, the dynamics of cryptocurrency market are negative and will remain so as long as bitcoin will set the tone for altcoins.
Market analyst cryptocurrency
Stock Markets Group™