Bitcoin exchange rate: Reduction of cryptocurrencies in the neighborhood of $7500 is not dangerous
Stock Markets Group – the bitcoin exchange Rate remains a major topic of the day for large investors and analysts, and in recent days the hype around the cryptocurrency has only intensified.
Thanks to this psychological support, the Bitcoin price remains near the key level today, however, shows a slight decrease at 1.5%, which is caused by partial profit-taking active buyers.
We will remind that earlier to a deep fall in the level of 8 000 $ for BTC was quite difficult and in the end, the cryptocurrency fell.
In the current situation, the majority of the top ten tokens also demonstrate multidirectional dynamics.
So, Bitcoin Cash is losing about 3.2%, price of Ripple is strengthened by 2.21%, the cost of Ethereum rose for the day at 4.1%, and the rate Bitcoin Gold fell by 2.14%, and one coin on the crypto currency exchange offer of $ 22.8.
Total market capitalization of bitcoin remains high and is 140 040 billion.
Chart bitcoin/dollar indicates a slight decrease in the most popular asset in the coming days. It is possible that before the weekend, large investors will adjust positions, causing the value of BTC could be back to around $ 7,500.
Technically, the cryptocurrency market is overheated and it’s time for a slight pullback.
As far as the fundamental components, in the news recently on the market, support bitcoin and other cryptocurrencies in the future will provide a new breakthrough for the token.
The next technical objective for the bulls is the level of $ 8,500, which is where buyers will try to push the cryptocurrency in the near future.
The exchange rate of bitcoin developing global growth
At the beginning of the month of may BTC shows the best gain since November 2017, and if we talk about causes, but at the moment not so much.
Rather, investors simply believe that “bottom” is passed, and speculators helped a little to convince the major players that cryptocurrency really ready for new records.
Also according to reports of the Chicago Mercantile exchange, trade futures contracts for bitcoin has reached a record level. According to the trading platform on 13 may, it was reported 33700 contracts that exceeded the total cost to 135 billion dollars.
The same report says that in recent months, most institutional investors have shown interest in derivative financial instruments based on bitcoin and other cryptocurrencies, which caused a sharp increase in the volume of transactions in the derivatives market and the increasing prices of the underlying instruments.
Positive news for the bitcoin exchange rate was the statement of the Director General Bakk, Kelly Löffler about the launch of futures contracts on the BTC, which was postponed for several months.
Test mode is expected to be launched in July, but approval from the regulator Bakkt can get in the next ten days.
We will remind that the Vice-President, TD Ameritrade, Stephen Quirke, speaking at a conference Consensus 2019, informed the participants that the company is interested in trading in derivative instruments created based on bitcoin and other cryptocurrencies.
“As soon as you open the door and give this opportunity, there will be many wishing to take part in trading on the stock market”
He said, speaking about the prospects of kryptonyte in the future.
Market analyst cryptocurrency
Stock Markets Group™