Bitcoins tries to recover, but the risk of a new sales high
Stock Markets Group – bitcoin exchange Rate today June 12 remains almost motionless, but investors preparing for the sales.
After the regular close on Friday, Bitcoin’s price could stay above $ 6800 dollars, and even ended the day with modest growth.
Most altcoins are trading mixed today. So the Bitcoin exchange rate Cash fell by 0.64% and is at level 948$ capitalization 16 305 billion. The Ripple rate declined by 1.08% and reached 0.59$ in market capitalization 23 456 billion. Ethereum has risen by 1.11% and reached 537$ in market capitalization 53 778 billion.
12:37 a.m., the main cryptocurrency platforms display these values of the rate BTC/USD:
Bitstamp – $ 6 855 (-0.36%)
Bitfinex – $ 6 849 (+1%)
Coinbase – $ 6 853 (-0.5%)
The market capitalization of Bitcoin at the moment is $117 500 billion Total capitalization of the stock market 258 309 billion.
Technically, for the most popular cryptocurrency it is time for a pause, as many players in the last days, indulging in a panic, rushed to cut positions on bitcoin and withdraw money.
The other part of participants of the cryptocurrency market, which remained outside the market, use the depreciation for opening positions on the purchase.
The rate of bitcoin “rocked” media?
Today cryptosuite continue to discuss the reasons why the value of the digital coins suddenly collapsed, losing more than 1 500 dollars in 24 hours.
In addition to objective factors, about which we wrote yesterday, the experts say whipping up panic in the media and blogs.
In one of the articles we already wrote about the fact that in the absence of reliable sources of information on bitcoin and other cryptocurrencies, as for example in the popular financial instruments many of the movements in the cryptocurrency markets, result from the appearance of the inside and sometimes unverifiable.
A situation when the behavior of the players based only on hearsay or assumptions, often cause strong movements and even cause a General profit.
The last days do not refer to such periods as the reasons for which the exchange rate of bitcoin was on the verge of collapse is quite justified.
Some reasons why it’s time to depreciate the asset we have indicated in the previous article.
Tony Weiss, former Vice President of JP Morgan Chase and current trader, earlier made a forecast that the exchange rate of bitcoin at the beginning of 2018 will continue the global decline.
Today he made a new analysis, which notes the repetition of the behavior of the pair BTC/USD in 2014 and in the current period. In his opinion, not only Bitcoin, but other signs point to a period of downward momentum:
“Enough time has passed since then, when I issued my first forecast of the pair BTC/USD. The most optimistic scenario for cryptocurrency in the month of July is the goal in the region of 4 975$. But my prediction may be revised as and when new signals on the stock market”
According to Weiss, the decline of bitcoin continues, the cryptocurrency drops below$ 5,000, will reach values of October 2017.
Bitcoin exchange rate today
The fall in the cryptocurrency market has stopped, but the risk of another wave of collapse remains. Pause, which originated in the stock market caused a sharp reduction in positions near the key level of 6 800$. Investors massively withdraw money in Fiat, fearing that an important level of support will not stand.
This even caused a slight increase of bitcoin and allowed him to complete the last day in the black.
However, today we consider the negative scenario as the primary.
After a growth level of 7 200$ price can be deployed where it will begin the second stage of the fall to the lows of February 6 000$ and then to 5 500$.
Market analyst cryptocurrency
Stock Markets Group™