Bitcoin exchange rate pared some losses, but reasons for the growth, experts do not see
Stock Markets Group – the exchange Rate of bitcoin 11 Mar remains within the levels of last fall, not showing buying activity. A little later yesterday evening, the sellers again lowered the value of Bitcoin under $9 000, leaving no chance of a quick recovery, the most popular cryptocurrency.
Today the bitcoin exchange rate strengthened slightly in terms of technical correction along with other courses of cryptocurrency, but the price remains to the downside.
17:15 GMT., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 9 191 (-1.1%)
Bitfinex – $ 203 9 (-0.9%)
Coinbase – $ 9 198 (-1.12%)
The market capitalization of bitcoin at the moment is $156 387 billion.
Bitcoin exchange rate today among the most stable cryptocurrency
It so says Tim Draper, an early investor in cryptocurrency, recently purchased at auction conducted by the U.S. Department of justice 30 thousand bitcoins.
As suggested by the Creator of venture capital firms Draper Fisher Jurvetson, in five years many governments have become virtual, and the management of the country, so to provide quality services in the competitive world they will have to seek tools such as bitcoin.
“I would gladly abandon the dollar in favor of digital coins, and I think bitcoin today, the most stable cryptocurrency” – he said in an interview in the program Fast Money on CNBC.
Earlier in 2014, the expert has already given a bitcoin exchange rate forecast, which expected its cost in three years at $10 000. As it turned out, he not only confirmed, but exceeded the expectations of Draper.
Today, he believes that in five years, the world and all will abandon Fiat currency, as the value of transactions with digital currency is much cheaper and faster. This is what will give bitcoin, in his view a chance to make history the main tool for financial transactions.
Bitcoin exchange rate today
As we expected, the weekend for cryptocurrency are in the range of $8 500 to $9 500 per coin. This is not surprising as market participants have overestimated the risks and adjust positions based on the volatility of cryptocurrency.
However, the Bitcoin exchange rate remains stable and keeps the range quite successfully. We are all more inclined to believe the analysts that justified the price of bitcoin is in this range, and anything above $10 000 is speculative growth, which is likely to be sudden sales.
The $10 000 was for the cost of the most popular cryptocurrency is far too complex to confirm a stable growth. However, on the chart of the bitcoin/dollar, you can see the formation of figures “double bottom”.
If it succeeds, then the rate of bitcoin growth will resume from current levels and will be heading to the psychologically important mark. This, with a positive balance of power, it will take a day or two. During this period, the cryptocurrency should not go below and form a base. Only then growth will continue.
The negative scenario
Bitcoin exchange rate strengthened slightly on technical factors and after that will begin the second wave of fall. In this case, we will wait for the price of around $7 000 – $6 800.
In the current situation, the dynamics of the asset offset in the direction of the sales, and we consider the negative scenario as the most likely in the coming days.
Bitcoin remains too sensitive to external background, and given the Exodus of major players from cryptocurrency, the asset depreciates very quickly.
Courses of cryptocurrencies on the market is as was painted for a time in green rushing behind the main cryptocurrency. Today is likely to end in a positive mood for most altcoins and the price increase in the range of 3% -4%.
Market analyst cryptocurrency
Stock Markets Group™