Bitcoins could suddenly collapse, the expert said the reasons
Stock Markets Group – the exchange Rate of bitcoin over the last 24 hours did not change direction and continues to hold near highs achieved recently.
The pressure for money, which we witnessed yesterday, fell slightly, however, according to analysts Bloomberg, the drop still may resume. At the time of this writing the Bitcoin price has decreased by 0.22% and is at a level of 3880 dollars. If we talk about the external background, today he remains relatively neutral.
Most popular cryptocurrencies has moved from decline to multidirectional dynamics.
So, Bitcoin Cash has appreciated by 0.28% and grew to the level of 128.22 dollar, the price of Ripple retreated by only 0.03% and is at the 0.3107 dollars, the cost of Ethereum loses in the range of 1.05% and currently settled in the area 132.04 USD and Bitcoin, Gold has appreciated by 0.71% and for one coin on cryptomeria offer 12.59$.
The total capitalization of the stock market at the moment is 133 992 billion.
Chart bitcoin/dollar continues to drift in a narrow range, remaining without the active support buyers.
The price of bitcoin does not attempt a breakthrough upwards as well, and action on the part of sellers in the market is not observed.
According to our forecasts, in the absence of strong drivers, the cost of the most popular cryptocurrency will not significantly change direction in the near future.
The bitcoin exchange rate can still drop below
This is stated in the next analysis of information-analytical service Bloomberg. Analysts say that the growth of bitcoin may not happen in the short term, as the “technical indicators, signaling customer demand, has deteriorated.”
Such situation is observed from mid-February at the moment. During this time the bitcoin exchange rate several times attempted to breakdown the mark of $ 4,000, but was not able to implement it, returning to current levels.
Analyst Mike McGlone noted in the report:
“Now the whole crypto-industry replicates a situation similar to the one observed in November 2018, before the recent global devaluation of BTC. Price konsolidiruyutsya in a narrow range and attempts a short-term rise in a bear market look unconvincing”
Some experts, such as EToro’s senior analyst, Mati Greenspan believe that investors transfer funds from bitcoin to altcoins, because I see more potential in unpopular tokens.
Besides, if we analyze the achievements of these coins from the beginning of the year, the rising cost of some impressive looks at the background of a depressing picture of the situation with BTC is more attractive.
Thus, it is possible to say that growth is tightening, the most popular cryptocurrency loses, and in the future may not fall below the yearly lows.
Market analyst cryptocurrency
Stock Markets Group™