Bitcoins could collapse to the level of 6 000$ if the psychological level will not stand
Stock Markets Group – the exchange Rate of bitcoin today steadily heading towards a new low set earlier in the beginning of April this year, the $7 000. If this mark will not stand in the coming days, the price of Bitcoin could crash to $6 000.
Investors lost interest in bitcoin and are prepared to gradually leave the market with the beginning of the holiday period.
11:15 a.m., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 7 159.10 (+0.01%)
Bitfinex – $ 7 140 (-1.1%)
Coinbase – $ 7 145 (-0.7%)
The market capitalization of bitcoin at the moment is $122 269 billion.
Meanwhile, experts continue to predict the growth of the most popular cryptocurrency and recommend to buy Bitcoin and sell altcoins.
Bitcoin exchange rate in a steady bear trend
Spencer Bogart, an expert on venture capital, partner of Blockchain Capital and one of the first analysts on wall Street at the exchange rate of bitcoin and digital markets, expects that the cryptocurrency will remain around $10 000 to the end of the year. He stated this in an interview with CNBC and added:
“Despite the longest period of falling Bitcoin exchange rate from September 2017, the long-term prospects of the coin remain unchanged. The necessary institutionalization of cryptocurrency, and many large banks already work in this direction by creating certain conditions for their customers. Some offer tools based on bitcoin, while others develop software for the storage of cryptocurrency”
The expert also suggested that the value of many alternative crypto-currencies today are highly inflated, which in the future could lead to serious problems.
Particularly vulnerable was named Cardano, IOTA and NEO, and the most stable and promising he called Ethereum, Ripple, Bitcoin and Cash EOS.
“I am very located in relation to Ethereum in the long term, however, it is overrated due to the inflated value of altcoins, is based on it. The future of cryptocurrency is closely associated with the development of space ICO”
Bitcoin exchange rate today
In the last week of cryptocurrency have retreated, concluding in our opinion the next global wave of drop to the key $7 000. Until bitcoin reaches this level, a reversal is hardly possible.
Besides, negative dynamics, and the weakness of the show and other altcoins, confirming the lack of buyers in the market.
We will remind that in the beginning of may, the Bitcoin exchange rate managed to reach the mark of $10,000, however, the attempt to gain a foothold above failed. However, we do not consider the cryptocurrency falling below the psychological mark new.
Expectation of institutional participants on the market of digital assets that will support bitcoin in the current framework of the $7 000 – $9 000.
The presence of speculators in the market greatly reduced, which means reducing the risks of unforeseen situations with the course.
Other cryptocurrencies are getting cheaper, losing on average 1% – 3%. We expect that with the approach of the last important support level, the activity of buyers in the market of cryptocurrencies will increase and eventually the growth rates again to resume.
Total market capitalization of crypto-currencies today is 261 794 billion.
Market analyst cryptocurrency
Stock Markets Group™