Bitcoin exchange rate today fell another 5%, the scandal will send a Coinbase cryptocurrency even lower
Stock Markets Group – bitcoin exchange Rate at 12:00 a.m., continues to fall by more than 5%. Buyers are in no hurry to support cryptocurrency and once again recorded a profit after three days of strengthening of the asset. The scandal surrounding Coinbase has caused a new wave of sales on the market.
At the time of writing the major exchanges show the following values of value of bitcoin:
Bitstamp – $ 10 574 (-1.45%)
Bitfinex – $ 10 572 (-6.1%)
Coinbase – $10 567 (-5.24%)
The market capitalization of bitcoin at the moment is $179 144 billion.
Cryptocurrency is not enough reason to continue the growth. Given the behavior of players it is safe to say that the recovery rate of Bitcoin will be long and very lethargic. The reduction in transactions on the network this is a negative signal, which today is celebrated by experts as the main causes of problems with the cost.
The main negative for the cryptocurrency was the message that large trading platform Coinbase implicated in insider trades and fraud against the customers. So it is reported that members of the exchange having the time of listing Bitcoin Cash in the stock exchange, used this information to trade.
Usually the players until the last minute trying to remain in the market and reduce bitcoin orders only in the event of sudden movements against the market. But what we are seeing today is not an escape from the tool, is the lack of interest in bitcoin. And this trend is observed both in the Asian markets and the markets of the USA and Europe.
Technically, the exchange rate of bitcoin is in an uptrend, but without the support of institutional investors, growth will be hampered.
A graph of Bitcoin value shows upward movement, but fundamentally there are no reasons to buy it. The decline in trading volumes and repeated unsuccessful attempt to cross an important level of $12 000, can permanently postpone a new vertex for cryptocurrency.
However, the market has a number of positive news if you are not able to strengthen the exchange rate of bitcoin to keep him steady.
At the time of writing, the asset price is above the psychological mark at the level of $10 500 came close to the support that provides moving average. In the future we expect her to rebound and growth.
As you know the exchange Poloniex has purchased start-up Circle associated with Goldman. Thus, a major American Bank, despite the criticism of the monopolies of bitcoin, still contributed to the purchase that gives indirect recognition of cryptocurrency as a competitive niche for the banking sector. In addition, the giant plans to open its trading platform for transactions of digital assets.
Large WellingtonManagementCo investment Fund managing assets of more than $ 1 billion, intends to add to its portfolio of bitcoin and other cryptocurrencies. In fact, we observed how digital assets have been progressively integrated into the “big business” that is a good signal for other potential investors.
As we mentioned earlier, the growth rate of a bitcoin today depends not only on the willingness of speculators to make money and push the price as high as possible. With the advent of large whales, an asset for speculation all the more special forms its Foundation and its client base.
The presence, though indirectly banking institutions and investment funds will not allow bitcoin to simply disappear. However, as well as will not allow speculators can easily manipulate the price as it was in 2017.
Market analyst cryptocurrency
Stock Markets Group™