Cryptocurrencies on the threshold of a new growth momentum
Market participants are clearly tired of waiting for any decision SEC in respect of the launch of a Bitcoin ETF, and now speculation has turned to the side projects of the largest technology companies in the world. Signature coins from Facebook and Telegram are considered a kind of threshold point for the development of cryptococcoma and “next higher gear” on the remittance market, since the audience even these two projects will cover a huge custom kryptonate planet.
After failing to break sustainably above $5300, on the stock market is dominated by some pessimistic mood. After the peak $5417 growth BTC has stalled, and sales – has increased, which briefly sent the benchmark cryptocurrency is below the threshold of $5000. However long the coin did not stay there, beginning a moderate rebound. To the beginning of the new week Bitcoin was trading around $5200. Also note: while the course grew, the trading volume on Bitcoin on the contrary, decreased as against the end of the week. This combination makes us cautious to look at the market and on those reactions that can be expected.
The authorities periodically carry out an audit, identifying desirable and undesirable lines of business and industry in the country. According to the results of the last such audit mining was declared “undesirable” activities in the country. The consumption of the electric power plants on an industrial scale has long been called the negative side of Beijing. Now the local authorities officially gave the “green light” on making a decision against outlawing this kind of business. The consequences can be different, but the community did not lose heart, considering that the cost of mining bitcoin will lead to an increase in the price of the asset. Besides, in this case, all will be convinced that China is not centralized, Hasrat the first cryptocurrency in the world.
The last sale on the stock market, on Thursday, coincided with bringing in the movement of the “whales” 43000 bitcoins. It is not known what actually happen move digital assets at OTC. Perhaps the largest owners of coins can give each other keys to wallets, so as not to cause price momentum. Those movements that are “on the surface” can be made deliberately, while the real dynamics going on “between the lines”, and the outcome will be for market participants, merely a statement of fact.