Cryptocurrencies remain calm, what will happen to bitcoin?
Another week of calm in the stock market began with a barely positive dynamics of all coins from the TOP 100. Total capitalization committed to the highest point of the range of recent months, while about $220 billion of the Reference Bitcoin (BTC) adds about one percent, trading just above $6,600. little known Aldon Maker (MKR), was the exception to a sluggish market dynamics, by shooting with a growth of 55% and a market capitalization approaching zcash for (ZEC).
Rapid growth began after news about the investment of $15 million from renowned venture capital company Andreessen Horowitz (a16z), as well as plans for a decentralized platform forecasts Augur to accept this token along with the air.
Nevertheless, the crypto-community care the longest in recent history, the stability of the market. Attempts to explain this process lead participants to the conclusion that the “professionalization” of the sector. It was obvious that the days of the Wild West on the stock market is gone, the size of the market made it visible to regulators and professional speculators, and that may be the cause of the collapse of capitalization of cryptocurrencies by $575 billion since the beginning of the year.
Retail investors with the exception of “hollero” came from the market, and now its essential shares are distributed among a small number of large participants who are waiting for the regulation, and serves a fundamental basis for further development of the financial services sector. This may explain that 9 weeks bitcoin anchored at the level of $6500.
On the background of General decline of interest of retail traders to the stock market fell demand for ICO. According IcoData, the amount of attracted funds in September, compared to January 2018 fell more than 800% to a minimum of $163 million ICO discredited: instead of serious projects, the tokens began to be issued “on behalf” of pop stars and football clubs, but the record here was Venezuela, whose President is personally promoting the Scam project El Petro, however against the logic will not do: there is no demand, because on November 1, the Venezuelans will be forced to pay the state fee for a passport in El Petro, so Maduro is trying to attract any real demand for the token.
It is also worth noting research publications Diar, in which it was found out that from the beginning of 2018, investments in venture companies in the blockchain technology and of bitcoin has grown by 280% compared to the same period last year to $3.9 billion market Stability and General news background, indicating a very high demand of big capital to the cryptocurrency, can point to a substantial reversal of the market growth in the medium term.