Bitcoins completes the correction before the next throw down
Stock Markets Group – bitcoin exchange Rate today is June 18th not show a pronounced dynamics, investors cautious in making new trading decisions
The price of Bitcoin will not be able to continue the growth, while it is not a serious reason. The current situation can be described as close to neutral.
Other cryptocurrencies are showing mixed dynamics. So the Bitcoin exchange rate on Cash lost 0.64% and is at 841$ 288 capitalization of 14 billion dollars. The Ripple rate fell by 1% and reached $ 0.52$ at market capitalization 20 118 billion. Ethereum has risen by 0.10%, and amounted to 497$ in market capitalization 49 584 billion.
15:50 Moscow time., the main cryptocurrency platforms display these values of the rate BTC/USD:
Bitstamp – $ 6 428 (-0.35%)
Bitfinex – $ 6 425 (-1.3%)
Coinbase – $ 6 424 (-0.34%)
The market capitalization of Bitcoin at the moment is $110 511 billion Total capitalization of the stock market 235 785 billion.
The exchange rate of bitcoin and the difficulty of mining
Experts note that the situation of bitcoin will continue to deteriorate, so as to low activity of buyers, added to the decline in profitability of mining.
With the beginning of declines in the conversations that the most popular cryptocurrency will be able to lose attractiveness among mining farms was conducted only in the context of electricity taxes and regulation.
Now, however, the risk of lack of wanting to maintain the transaction in the network has increased dramatically. The high cost of equipment for mining, and the growth of production costs of coins are coming close to the profitability of mining bitcoin and the advisability of support of the network itself.
While the cryptocurrency is in the range of 6000$ – 6500$ that mining remains profitable, but analysts warn that as soon as you reach the $ 5$ 500, the situation will change not in favor of mining, and many of those who today provides the appearance of bitcoin, can limit the work. It is, of course, talking about private miners, large farms will not leave the market quickly.
As we have mentioned in previous articles, the question of mining affect the bitcoin exchange rate, and not always in favor of growth. The decline of the asset in the first half of the year is gaining momentum, the bitcoin has become easier to produce, and are added to the cost of taxes and the rising cost of electricity.
The last four days, bitcoin is in a sideways movement and this week the forecasts of experts say about the continuation of sales. The range in which the digital coin may be delayed during the summer period, is between 5 500$ 6 500$ dollars.
Many market participants are still afraid to open new positions, as it is associated with high risks.
Cyprus can support bitcoin
As it became known, the government of Cyprus are starting a global offshore cleaning, which will refuse to serve “dummies” and their capital. It happened after the Baltic countries, who had previously held the same job.
It is expected that the result of these actions, a huge amount, “will seek” a new shelter and one of these may be the Bitcoin and cryptocurrency market.
Experts expect the influx of capital in the digital infrastructure, as it is today is still decentralized and allows you to legalize the money obtained gray methods.
So very soon, the cryptocurrency market can receive nourishment and support in the fight against unfair offshore capital from the Cypriot authorities.
Bitcoin exchange rate today
As we have noted above, the cryptocurrency remains motionless, but ready to show new lows in the district 5 $ 500. The first goal that will be met, located in the neighborhood of$ 6000, this level in our opinion will not be a problem for sellers and they are selling bitcoins below.
The bears firmly hold the initiative and are ready again to show his power. Most appropriate now will be to stay out of the market, waiting for the fixation of the price of Bitcoin somewhere in the area of 5 000$, for purchases.
Market analyst cryptocurrency
Stock Markets Group™