Bitcoin exchange rate October 19: Reasons for further growth are obvious
Stock Markets Group – the exchange Rate of bitcoin is still under pressure, and the fall of cryptocurrency is gaining momentum all the more.
So the current losses of the underlying asset amount to 0.46% and one coin on the crypto currency exchange serves 6 567$.
However, on the chart of the bitcoin/dollar will be an intermediate support from which experts believe that there are any major breakthrough. The current market situation is temporary, and the new rise of exchange rate of bitcoin to highs in the long term remains relevant.
We also believe that once the bitcoin record price in the region of 6 500-6 400 dollars, it is possible a sharp jerk upwards.
Most of the cryptocurrency in the top ten today remain under pressure. So Bitcoin is Cash lost per day of 0.45% and dropped around 437 dollars, the price of Ripple depreciated by 1.56% and reached the level of 0.454 dollar Ethereum decreased by 0.1% and is in the area of 202 dollars, and the Bitcoin exchange rate Gold loses to the current moment of 1.22% and a single coin on the exchanges propose 26.26$.
The exchange rate of bitcoin is preparing for the breakthrough and it is only a matter of time
Despite the apparent weakness of the cryptocurrency in recent months, the situation on the market seems to be nearing completion. With the approach of autumn and growth of new players. The cryptocurrency market has quickened, and with it increases the volatility on which so love to make speculators and small investors.
The current decline in bitcoin exchange rate doesn’t look beyond short-term frame, and the next week you can prepare for the growth of the most popular cryptocurrencies.
This also contribute to not only technical factors, but also by fundamental reasons. So, for example, it can be argued that despite some apathy and indifference to bitcoin in the summer, on wall Street continues to grow activity in trade bitcoin futures.
According largest futures market operator CME Group in the third quarter, the average daily volume of bitcoin transactions-futures grew by 41%.
The daily volume of trading on the exchange of crypto-derivatives at the moment, almost equal to the volume of trading in bitcoin on Upbit, the largest South Korean cryptocurrency exchange.
This is a very good indicator, indicating that derivatives on bitcoin are gaining popularity. And as you know the futures, a tool of medium – and long-term investment.
The second reason why the Bitcoin price has the potential for a breakthrough, it’s the regulators. The process of formation of legal rules and regulations for the cryptocurrency market slowly but is nearing completion. Many countries already apply previously approved amendments to the securities laws that have a positive impact on the market.
Reduced risk for “major money” and investors are increasingly in their portfolios prefer the presence of bitcoin and other cryptocurrencies.
So, if in 2017 the cryptocurrency was only 15-1.5% of the total portfolio, today this figure reaches 7%. Thus, in the future, the big players consider the digital assets as a way to preserve savings and earn.
In General, the market situation is favorable cryptocurrencies and the future growth of bitcoins remains only a matter of time.
Market analyst cryptocurrency
Stock Markets Group™