Bitcoin exchange rate: the Growth will require new fundamental reasons
Stock Markets Group – the bitcoin exchange Rate continues its slow retreat from recent highs, and in the course of the day lost almost $ 200, or 4.98%, settling near the mark of 5,066 USD.
Technically, the Bitcoin price remains low-risk and only after quotes drops below $ 5,000, the situation may change in favor of sellers.
Most of top ten cryptocurrencies as well continue to decline.
So the Bitcoin exchange rate Cash loses 10.59%, the price of Ripple is reduced by 7.57%, the cost of Ethereum dropped to 6.97%, and the rate Bitcoin Gold became cheaper by 8.04%, and one coin on the crypto currency exchange offer 16.67 USD.
Total market capitalization of bitcoin over the past day has decreased and now stands at 89 516 billion.
Chart bitcoin/dollar still indicates continued growth. An intermediate support which acts as a moving average stood after the first attempt of breakdown.
Buyers were able to keep the Bitcoin price is above the psychological mark, so our forecast for continued growth and the breakdown of the level of 5300 dollars remains in force.
The bitcoins should show growth above $ 6,200
Only then “bullish growth” most popular crypto-currencies confirmed. So says General partner Capital Multicoin blame, Lingam, who believes that global growth of the cryptocurrency will only start after overcoming the next important level.
If the current BTC exchange rate fluctuations will continue in the current range, and will not be confirmed by anything except speculation, that to anything good it will not.
According to experts, the price of bitcoin can rise up to $ 10 000 or even 100 000, but under certain conditions it will not increase the dominance of the most popular cryptocurrency in the world, and other digital assets will just grow on speculation.
This situation sooner or later again lead to drop in prices of bitcoin.
While this cannot be considered as a short-term scenario, and buyers can stay on the new highs of the year, but without any new fundamental reasons for growth, the cost of the most popular cryptocurrency has no prospects for global improvement.
Market analyst cryptocurrency
Stock Markets Group™