Bitcoin exchange rate: the period when the cryptocurrency will grow
Stock Markets Group – the bitcoin exchange Rate remains under pressure, continuing the longest decline in the history of existence.
For 411 days, the most popular cryptocurrency did not interrupt the bearish momentum moving below. At the time of this writing, the Bitcoin price has fallen in the area of 3459 dollars, losing 1.43%.
Most of the cryptocurrency in the top ten also show negative and falling.
So the Bitcoin exchange rate Cash decreased by 2.73% and reached 117.3 dollar, the price of Rippe lowered to 2.77%, while in the area of 0.303 dollars, the cost of Ethereum loses on average 3.40% and falls to around 107.36 dollars, and the Bitcoin Gold went down to 2.74%, and for one coin on cryptomeria offer 9.85 USD.
Total market capitalization of cryptocurrencies at the moment is 103 877 billion.
Chart bitcoin/dollar falls lower, the price of BTC remains below the moving average, indicating a continuation of the negative dynamics.
Quotes cryptocurrency attempted to break through the resistance around 3600$ last week, but stepped back again, confirming the lack of “strong” buyers in the market.
First resistance for the bulls is at the level of $ 3,600, and this level is strengthened quick line of Ichimoku indicator.
Further, topical stamp 3850 dollars, where the lower limit of the Ichimoku cloud.
From a technical point of view to break the bitcoins not enough volume and large investors in the market. However, many experts, including the head of Pantera Capital expect that the time of institutional investors is close.
The rate of bitcoin will increase in 6-9 months
The General Director of investment company Dan Morehead believes that such crises the market has already been through and it gives you confidence that this time the cost of bitcoin will be able to return to previous levels.
“This is the second crypto-winter after the one we observed in the 2014-2015 year. Then I have been disturbed by the question of the stability of the blockchain technology because at that time there was strong pressure regulators. But today, many of the principles more clear than it was five years ago”
Given that Pantera Capital planning investment strategy on average for 5-10 years, intraday fluctuations of bitcoin prices in this approach are not so important.
“In our work we orientirueshsya for five to ten years and focus on positions that will be profitable over a long period of time, not trying to get into price cycles, market fluctuations”
Morehead also expects to soon come to the market institutional money, but in the current environment, the risks associated with investing in bitcoin keep big players.
The essential growth of prices on the stock market, investors have quickened, since few people will rush to buy bitcoin at a time when it continues to fall.
“Our Foundation was formed when the rate of bitcoin was only $ 65, and very few investors were willing to invest until the price has reached the level of 400-500 dollars.
When quotes exceeded $ 1,000, we got a huge influx of investors. When the first crypto-winter 2014-2015 year, the stream has dried up”
Many experts like Dan Morehead is expected that very soon Bitcoin will reach its bottom and begin to rise, and this, apparently, will coincide with the time when the SEC will understand the issues of regulation of the stock market.
Clarity in the rules and protection of investments will support those players who are still in doubt in the long term investment in crypto, and will make them come out on the market with large transactions.
Now just have to wait and see how the exchange rate of bitcoin and cryptocurrencies continue the long historical decline.
Market analyst cryptocurrency
Stock Markets Group™