Bitcoin exchange rate November 25: Panic has fallen off the cryptocurrency 30% for the week
Stock Markets Group – bitcoin exchange Rate did not stay above $ 4,000 and below fell, around 3700, placing a new record in 2018.
The last time the Bitcoin price was at this level on 22 September, and last week the asset has lost about 30% of its value.
By the way, the year’s most popular cryptocurrency has lost more than 80%, and further decline of the quotes may be threatening.
Chart bitcoin/dollar indicates severe negative momentum and attempts of sellers to push the digital currency as low as possible.
Recall that in our medium-term forecasts, the key level for the buyers is the level of 2500$. At this point we expect some rebound and a reversal is possible. In the current situation, as we have mentioned earlier, $ 4,000 for a token was not strategically important foreign countries.
Most of the cryptocurrency in the top ten not far behind from the main asset and continue to fall.
So the Bitcoin exchange rate Cash lost 5.98% and dropped to around 185$, the price Ripple retreated by 7% and reached 0.348$, the value of Ethereum decreased by 2.05% and is close 110.47$, and the rate Bitcoin Gold fell 0.21%, and for one coin on the exchanges offer 19.09 USD.
The market capitalization of cryptocurrencies at the moment is 112 892 billion U.S. dollars.
The rate of bitcoin has triggered a wave of purchases of gold by investors
As has been known since the first wave of sales from historic highs, many sellers of precious metals noticed that their customers began to buy gold, disappointed in bitcoins.
On this situation, many experts remember today. So the head of one of departments of sales of the monopolist Oanda Stephen Innes said:
“If the rate of bitcoin will crash to around $ 3,000, people will start to massively get rid of cryptocurrency, as it was once. The attractiveness of digital assets will decline dramatically, and is forced to look for new instruments of refuge such as gold”
However, it should be noted that already today seen a significant increase in demand for the yellow metal on Monday this trend can only increase.
Investors are once again remembered the gold, and diversifitsirovat their portfolios.
Besides, analysts say that on the whole interval of the existence of bitcoin, there is a significant correlation between token and gold, especially during periods of a strong fall of the first.
On the other hand there is a paradox in which many Millennials prefer digital assets of traditional instruments, even despite their weak position in the modern financial world.
Thus, the exchange rate of bitcoin is closely linked to the processes that occur today. In particular the digitalization of the banks and financial institutions improve predictions regarding the use of blockchain technology.
Among the main reasons for the fall of bitcoin prices, many experts still believe the postponement of the date of launch institutional bitcoin platform Bakkt and the absence of a clear policy regulators, leading to inability to make medium and long-term forecasts on the stock market the big players.
In any case today we consider the next target for cryptocurrency rate at the level of $ 3,000 as the most likely in the coming days unless the market gets a new positive feed from the outside.
Market analyst cryptocurrency
Stock Markets Group™