Bitcoin exchange rate rose after the decision of South Korea to postpone the regulation of cryptocurrencies
Stock Markets Group – bitcoin exchange Rate today, 19 June, shows a slight strengthening in the framework of a technical rebound, adding just 0.5%.
In recent days the Bitcoin price has been able to add almost $ 200 that revived the market, and some active players resumed their buying.
However, this growth in most popular cryptocurrencies can become a trap and an attempt sellers “to collect” stop orders, before the new wave of sales.
Other cryptocurrency in the top ten a little stronger. So the Bitcoin exchange rate Cash strengthened at 1.37% and is at level 897$ 389 capitalization of 15 billion dollars. The Ripple rate rose by 1.05% and reached 0.54$ at market capitalization 21 420 billion. Ethereum went up by 3.19%, and reached 534$ market capitalization 53 488 billion.
15:20 GMT., major exchanges show the following values of the rate BTC/USD:
Bitstamp – $ 6 738 (+0.59%)
Bitfinex – $ 6 740 (+4.9%)
Coinbase – $ 6 740 (+0.61%)
The market capitalization of Bitcoin at the moment is $115 701 billion Total capitalization of the stock market 249 407 billion.
The bitcoin exchange rate remains in the spotlight of regulators
The South Korean authorities decided to postpone the regulation of cryptocurrency, citing a lack of training in this matter.
News about application of new rules of cryptocurrency appeared a week earlier when officials and South Korean financial intelligence unit announced the beginning of regulation of bitcoin and other cryptocurrencies.
“Based on existing rules and measures to prevent fraudulent schemes in the sphere of cryptocurrency developed by a new bill. If the document is approved, the new rules will apply to local authorities and commercial banks”
As it turns out, money-laundering and “gray schemes” use of bitcoin today is not the main problem of the authorities, as investigations do not require any additional rules and laws. Much more important today, is to protect bitcoin investors and their assets.
The South Korean authorities understand that delaying the timing of adoption of important laws, can make the stock market even more vulnerable, as recent studies have shown that most exchanges continue to trade bitcoin without compliance with appropriate security measures.
Despite the fact that the issue of regulation has long been a staple in the agenda, unified system that would develop legal cryptoforge, yet. Mainly transactions with bitcoin, defined in different countries in different ways, which complicates the regulation of the market.
However, the Asian region is today the most active in the mining of bitcoin and other digital coins, and the volume of transactions.
For example, last year alone, Chinese citizens have established more than 2,000 CryptoRandom in the offshore, the purpose of which is to facilitate trade of new tokens. Despite the fact that the Chinese authorities are struggling hard enough with the stock market, equity funds ranges from a million to tens of billions Chinese yuan.
Bitcoin exchange rate today
The stock market calmed down a bit, and even shows a slight increase, but experts expect that the consolidation of Bitcoin prices is simply a chance to enter the market higher up to those market participants that continue sale.
All the signals supplied by the Ichimoku, indicating the further decline of the asset, and the presence of additional factors, bitcoin exchange rate, having easily overcome the level of 6 000$, and ran below.
While this support remains below the current value of the coins, the bitcoin will remain in a narrow corridor. The situation will change in the next few days, and according to our calculations, the balance of power is still shifted towards the bears.
Market analyst cryptocurrency
Stock Markets Group™