Bitcoin exchange rate October 11 fell by more than 5%, the negative Outlook was confirmed
Stock Markets Group – the exchange Rate of bitcoin have once again demonstrated to the participants of the stock market and its unpredictability fell more than 5% or 320$ for two hours without any obvious reason.
According to our previous forecast, the market of cryptocurrency, a situation in which the lack of initiative on the part of buyers, caused a decrease of volatility and a negative to bitcoin as an asset.
Interest in bitcoin has fallen dramatically in recent months, and the cost of mining as we have noted previously, entered the zone of unprofitability for private production.
On the chart bitcoin/dollar formed a strong bear candle, which broke the timid growth of the cryptocurrency which lasted for several weeks. The dynamics of the digital asset is back in the red zone and cryptocurrency headed to the next minima.
In turn, most of the cryptocurrency of the top ten rushed after the price of bitcoin and lose on average 5% to 15%.
So we expect the current Cash rate of Bitcoin has fallen by 14.18% to around 449$, the price Ripple lost 13.39 per cent and amounted to the district level 0.409$, the value of Ethereum decreased by 13.05%, and is currently at around 199.5$, and the rate of Bitcoin Gold is reduced by 7.84% and for a single coin to the current time offer 24.75$.
Total market capitalization of crypto-currencies 24 hours down to less than 200 billion $ 217 billion a day earlier.
Experts believe that the rate bitcoin is falling because most of the speculators were disappointed in cryptocurrency and realizing that you will not be able in the future to earn aggressive as it was before leaving the cryptocurrency market.
However, it’s time for the big players, which will focus on the fundamental factors moving the rate of bitcoin only in the case when this will be the reason.
Time emotional trading cryptocurrencies is finished and the digital asset will cost exactly so much, how great its value.
Bitcoin exchange rate in the trap of inaction of regulators and activity of scammers
We mentioned earlier that regulators from different countries trying to make the cryptocurrency market safe and legal. However, as practice shows, this process is too long, which caused the lack of medium-term prospects of cryptocurrencies.
The collapse we are seeing today, is associated with the sudden departure of those players who traded rumors and emotions, and the inability to forecast the future of bitcoin among large institutional investors.
However, on the other hand kriptonyte overrun with reports of theft, fraud and other negative situations, which are increasingly deterred by large business.
Recall that in the current year, the loss of kryptomere from hacker attacks increased by 250% compared with the 2017 year. And this despite the fact that many countries allocate funds for security and validation of the trading platforms subject to vulnerability.
News Agency Reuters reports that in the first nine months of the trading platforms have lost 927 million to $ 266 million for the 12 months of last year.
According to a growing number of medium and small thefts cryptocurrency from 20 to 60 million and by the present moment the total amount reached $173 million.
Dave Jevans, CEO of Cipher Trace and concurrently Chairman of the organization for the fight against cybercrime believes that the numbers may be twice, since we only know about the alleged crimes.
In favor of the fall of bitcoin exchange rate plays the same and the technical factor that indicates the completion of a “triangle” and the risk of leaving value of an asset below strong support of $ 6,000.
In our opinion, should prepare for the fact that the main cryptocurrency will not stop at this level and will continue to look for the “bottom” around 5 500-5 000 dollars.
Market analyst cryptocurrency
Stock Markets Group™