Bitcoin in anticipation of the new reasons for growth
The volatility of Bitcoin has fallen, as in the periods preceding sharp jumps of the course. Crypto market again difficult to decide on a direction. The level of about $3,900 and was a physical point of balance of forces. Some expect growth to sell, others fall to buy. The current was a little scary, as it reminds of the October decline of interest, ended with an impressive sale.
In the previous two times when the average weekly trading range Bitcoin exchange rate was at current levels, within a few days it ended with increased volatility. In October we observed a serious failure, and in February, in contrast, was growth.
Wait-and-see attitude emphasizes the decline of the daily volume of transactions in the Bitcoin network, which by the beginning of the week fell to 212K vs averages about 350K by the beginning of March. The previous 15 months have developed a market reflex the fear of calm, making preparing for lower prices.
The standard of digital currency usually follows the whole market of altcoins; considering and so the minimum historical levels of capitalization of the stock market in General, the new correction may come as a shock to market participants. But, on the other hand, it can also be a turning point for the market, identifying attractive to large investors levels to buy.
Often stiff price pressure and competition for resources create a development momentum, cutting unnecessary items, which acquired market is in a period of hype.
The results of the survey Foundation for Interwallet Operability (FIO) showed that 70% of the holders of digital currencies have not used them as means of payments in 2018, or did it very rarely. In addition, people have a fear of committing crypto transactions. It should be noted that it is the people who bought the digital currency that already then to speak about the majority, who at all have forgotten about this phenomenon when he went missing from mainstream media.
Against this background, the community hope that stabilini Telegram and Facebook will be able to solve the main problem of the lack of “traction” on crypto market at the moment: the complexity of the use of digital currencies in regular remittances. However, here we need to understand that Bitcoin and altcoins will hardly get your “ticket to the moon”, but rather, it will be a lot of tech-savvy users of these ecosystems, becoming “the first but not the main”.