Bitcoin rate keeps a wary upward trend

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Bitcoin continues to hold occupied positions, while the market waited to rebound with a possible test of $7k. However, the last few days of the reference cryptocurrency is sideways. According to CoinMarketCap, bitcoin exchange rate is currently trading and in the last 24 hours shows almost zero dynamics. Altcoins out of the TOP 10 lose in the range of 1% to 4%, which can also be seen as modest dynamics. Bulls and bears are lying in wait further news triggers.
Meanwhile, many analysts and community hope that approval by U.S. regulators Bitcoin ETF will attract institutional funds. Such expectations have already been in December before starting bitcoin futures on CME and CBOE. Soon, however, the rapid growth of the crypto market turned into a long decline, as punters have a good opportunity to bet on market declines. The same may apply and attract institutional investors. Not necessarily that crypto-currencies are well accepted in the majors of Finance.
On the other hand, in media circulated a number of positive in term of news, as it indicates far-reaching plans of big capital. Japanese Bank Nomura launches a Custody Solution for large institutional investors. Similar plans for the upcoming 3-5 years are discussed in Germany and England. And this is not the expectation of the “flight to the moon” crypto-romantics, and a huge investment on the part of business that carefully considering your steps and has some connections in high government and regulatory circles.
In spite of very careful market dynamics, Bitcoin still retains a cautious upward trend, rebounding from lows below $6000 at the end of June. The analysis of trading volumes suggests that for a visible uptrend in the price are cautious of buying, as the volume of recently rising slowly, which was not in the points of sales a couple of weeks ago.
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Alexander Kuptsikevich,
Financial analyst,
FxPro