Bitcoin exchange rate: the collapse of the cryptocurrency could become a reality
Stock Markets Group – the bitcoin exchange Rate continues its steady March to new lows, investors and active players leave the market, waiting for new price lows of the cryptocurrency at the level of $ 6 000 and below.
Only in recent days the Bitcoin price has lost about 500 dollars or 8.1%, and falling, apparently, soon will continue to favor those players who are waiting for the minimum levels to enter the market.
The complexity of the situation is exacerbated by the fact that today the question “What will happen to bitcoin next?” remains open.
Despite all attempts of the crypto community to legalize crypto-currencies at the level of major global regulators, yet receive only little support. An example of this is the recent SEC decision to delay the launch of a bitcoin ETF before 30 September, but it is.
Despite the fact that this decision concerns only bitcoin, other cryptocurrencies courses immediately followed the main asset, losing an average of 7% to 12%.
Most altcoins remain under strong pressure. So the Bitcoin exchange rate Cash fell by 0.93% and is at level 583.21$ 103 capitalization of 10 billion dollars. The Ripple rate fell by 0.09% and reached $ 0.3318$ in market capitalization 13 118 billion. Price Ethereum fell by 0.8% and amounted to 352.75$ in market capitalization 35 908 billion.
16:55 in Kiev, the basic of the trading platform show the following values of the rate BTC/USD:
Bitstamp – $ 6 238 (-0.76%)
Bitfinex – $ 6 234 (-3.4%)
Coinbase – $ 230 6 (-0.6%)
The market capitalization of Bitcoin at the moment is $107 973 billion and the Total capitalization of the stock market 203 954 billion.
The exchange rate of bitcoin could not find reasons to continue growth
So, according to bill Wagner, co-founder of the investment Fund “Step&Run” the market reacted to weak prospects for cryptocurrency to become a full-fledged financial instrument:
“The whole summer cryptologist expected, the weakening pressure on the exchange rate of bitcoin, by clear regulation and integration into the global financial system. But recent doubts about the SEC show that the process was delayed, this greatly upset investors”
However, according to experts, the predictions regarding the fall of the cryptocurrency has long been made, they were based on the reluctance of the world’s financial monopolists to share a share of the payments market with digital coins.
The confrontation is still ongoing and despite the loud statements of leaders of major banks on the readiness to study this question, the situation is against bitcoin.
Paradoxically, the current collapse was provoked by the transfer of money to bidders in the primary token, increasing the share of the digital asset on the market to 49.1%. However, the exchange rate of bitcoin increases, the fall and almost never feel the inflow of new capital, losing the beginning of the week with almost $ 1,000.
Bitcoin exchange rate today
On the market today, cryptocurrency is showing a slight stop after the rapid fall. Sellers have fully performed negative scenario returning to the original starting point of growth and there are very few, to set a new annual minimum in the region of 6 000 dollars.
However, this may not be the final frontier for value of bitcoin and quotations may go lower, especially given the fact that the previous growth is completely cancelled.
If the rate goes below the first mark, where it will meet resistance, will be $ 6,000. Further, if the attempt is successful breakdown, the decline may lead the market to a new low of 5 800 or even 5 $ 500 per coin.
Chart bitcoin/dollar shows the activity of sellers and complete control over the market.
We recommend that in the current situation to stay out of the market until the bitcoin will find a new “bottom”. Most likely, the fall will be long…
Market analyst cryptocurrency
Stock Markets Group™