Bitcoin has lost another 5%, dropping below the psychological mark of$ 10 000
Stock Markets Group – the exchange Rate of bitcoin, the most popular cryptocurrency in the world in the last 24 hours have fallen below the psychological mark of$ 10 000. The price of the asset has lost 5.25%, dropping to $ 9 958$.
At the moment the major exchanges show the following values of value of bitcoin:
Bitstamp – $9 879 (-5.46%)
Bitfinex – $ 9 866 (-6.5%)
Coinbase – $ 9 862 (-5.48%)
The market capitalization of bitcoin at the moment is $170 billion.
The bitcoin exchange rate and news
A fork of Litecoin Cash took place, but was another disappointment for the crypto community.
After the launch of the new cryptocurrency on the market there is no hype even despite the fact that there were no technical failures.
Currently, Litecoin is trading at Cash level of$ 5 on volumes of just $ 1 million.
Looks like a marketing ploy, which wrote the creators of the new fork was a failure. In our opinion this event once more proves the maturity of the market, which simply rejected the “something useless in a beautiful wrapper”.
Bitcoin fell below the$ 10 000 and the collapse of the cryptocurrency market. Is it just another correction after prolonged growth or the inability of the market to recover after a long fall?
Experts warned earlier about this scenario, and even outlined the minimum level of 9 300$, which price may be.
Trade bitcoin it is still a short-term speculation with a high degree of risk, and if in the near future, bitcoins will not start a full growth, analysts ‘ forecasts about the growth of cryptocurrencies above 20 000$ will remain empty assumptions.
Today it is seen that the impulses of growth, which demonstrates the bitcoin exchange rate, are not as strong as before.
With the departure of the aggressive speculators, Bitcoin has lost volatility, which was for many a source of quick money. That time has passed, and with it changed the cryptocurrency market.
U.S. officials suggest the regulators to lead the promotion of the cryptocurrency market. The message of the lawmakers to the securities Commission and the Commission on commodity futures trading they say that cryptocurrencies and bitcoin has become much more than just an alternative to the dollar.
“The United States must lead the use of new technologies. It is essential that we have developed a balanced approach to the regulation of cryptocurrencies”
The letter also referred to the need to take additional measures to avoid “unnecessary uncertainty and concern” in this matter.
“We urge you to allow the introduction and development of innovations in the market using a creative and rigorous approach to the analysis of the use of cryptocurrency”
As we have mentioned earlier, there is a high probability that in the future the United States will become the center of kryptonyte and development of trade bitcoins and cryptocurrencies.
This is especially true as China continues to make sudden lunges towards the development of tryptamines in the country.
Bitcoin exchange rate today
In our opinion, while the exchange rate of bitcoin is above $ 8 000$, the probability of its further growth remains high.
Today’s decline does not go beyond the standard volatility tool and is not unusual. Given that bitcoin some days previously could show growth of up to 20%, the current weakness of the cost can be attributed to correction. Moreover, it is during the day, has not exceeded even 10%.
The price reaches the area of 9 300$ and rebounding from the moving average passing there turns up. In this case, in the region of 12 000$ will once again be relevant and bitcoin is likely to reach it.
The negative scenario
The fall of prices continues, and in this case the first target is around 8 000$. For the price to fall below 9 000$ to confirm the absence of major market players and the development of the downtrend.
At the time of writing, the balance of power has leveled off, which increases the risk of a further fall of bitcoin.
However, we expect continued growth in the coming days.
Other assets in the market as well followed the bitcoin and fall. At the moment the market situation is as follows:
Total market capitalization declined and amounted to $388 billion.
Market analyst cryptocurrency
Stock Markets Group™