Bitcoin exchange rate: Record a quick dash for $600 was a surprise
The exchange rate of bitcoin again in the spotlight after an overnight jump of more than $600 to $10,400, which compensated for the fall in the end of last week. Improves mood the bulls accompanied the massive growth of the trade volume by 55%. However, the surge in Bitcoin prices does not cause the market participants are over-optimistic, since in the long run, the token remains locked in a sideways trend.
TOP 10 altcoins added 4-7%. However, once again, evident by the fact that the exchange rate of bitcoin is growing stronger main peers. This is evident in further growth of the index of dominance, which exceeded 70%.
It would be desirable to market participants reckon BTC to protective assets, fluctuations in the tens of percent a day poorly tally with the definition of “safe Harbor”. While more similar to what crypto-enthusiasts or rather, speculators increase the purchase on the news about the destabilization of the traditional financial system. However, they quickly close the position, not getting further development.
Aside from the news noise and look solely at the chart of the bitcoin/dollar, we see that an asset received support late last week on the decline in the area of $9300. In the same way, increased purchases in July and August. At the same time, should pay attention to a series of lower highs in the BTCUSD exchange rate since the end of June.
I must say that August was a challenging month for investors and traders. According to Bloomberg World Exchange Market Capitalization index, the global stock market lost due to geopolitics and the overall uncertainty of $3 trillion. The total capitalization of cryptocurrencies fell as much as $27 billion compared to a traditional market, this is a very modest figure – and yet.
This statistic shows how an early stage of development of the stock market we are seeing now, and how easy it is to manipulate digital currencies, “the sharks of wall Street” – in the near future. They will be able to increase the value of coins with cosmic speed and also dramatically roll – in if necessary.
The increasingly frequent arguments of prominent politicians and officials, including the recent unexpected announcement by Mark Carney about the end of dollar hegemony, say on the approach phase of the inflation of the stock market this cache is not on the level of retail investors. At the moment it is assumed that bitcoin will be the main beneficiary, however, the “sharks of wall Street” on that and sharks that you can always offer an unexpected scenario.
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