Bitcoin exchange rate: the situation with the Tether carries new risks of falling
Stock Markets Group – bitcoin exchange Rate today remains above the key level 6 $ 600 per coin, while remaining in an uptrend after the recent Pampa.
A sudden increase in the prices of Bitcoin two days earlier, revived the market and helped to attract a sufficient number of new customers, but experts warn that such drastic movements can often serve as a new starting point for deeper sales.
Chart bitcoin/dollar is good shows on the first day of a strong rise of quotations, when after only an hour the digital asset has lost more than 50% of the maximum. Buyers should prepare for the next drop, if the fundamental factors are against bitcoin.
The most popular cryptocurrency, after experiencing “good stress” today show multidirectional movement. So the Bitcoin exchange rate Cach rolled back to 0.86% and is at elevation 455$, the Ripple adds to the value of 0.58%, reaching the level of 0.480$, the price is Ethereum dipped by 0.82% and dropped to the area of 208$, the Bitcoin exchange rate and Gold lost to the current moment of 0.63% and 27.13$.
The total capitalization of the stock market at the moment is 196 608 billion, still below the $200 billion a month earlier.
The rate of bitcoin has become a hostage of rumors about Tether
the story in our view is not new, and once again confirms that the risks Panov and dumps in cryptocurrency market, and manipulation is very real not only for “young” tokens, but for bitcoins.
Investors, scared of the supposedly impending delisting USDT on Binance, and that was the reason for the sharp sales of the asset, and transfer of funds in Bitcoin.
Later came the refutation of the founder of Tether, Chanpen Zhao which said:
“At the moment, I have no official information on this issue, and if it will appear, we will inform about all changes publicly”
The information he called a “fabricated fake news”, but this time those who have extended succeeded.
Bitcoin exchange rate initially rose sharply to 7 $ 800, and the cost of the Tether fell below 1$, which is actually contrary to the stated by the creators of the token concept.
This case is also not passed to the reputation of the Binance, as on date, the exchange is the largest holder of the token USDT.
And yet despite the incident, analysts say that this situation helped the exchange rate of bitcoin to push off and get out of balance, shifting power in the direction of growth.
It is now important that this margin buyers were able to hold on and buy popular cryptocurrencies continued.
Also recall that the volume of trade bitcoins in Venezuela, Argentina and Egypt reached record highs because of the unstable economic situation in new countries, and a significant depreciation of the national currency against the U.S. dollar.
Market analyst cryptocurrency
Stock Markets Group™