Expert: the exchange Rate of bitcoin may fall this week
Cryptocurrency market on the morning of Monday trading mixed, volatility low. Regarding the cryptocurrency of the top 10 Coinmarketcap, in General, the observed motion in the red zone.
Bitcoin shows a decline -0,57%, continuing to test the $6786.75. The cost of Etherium shows a decline of -1.36%, the coin is trading at $486.27. Ripple (XRP) is reduced by -2.33% reaching $0,4798 , Bitcoin Cash also shows a decline of -2.21%, at the time of writing the value of the coins is $752.10. EOS coin is trading at $8.64, which is -4.12% below yesterday’s mark. Litecoin, Cardano and IOTA also decline by -2.65%, -2.51% and -2,39% respectively.
The growth of its value shows only one coin of the TOP 10 Coinmarketcap is Stellar, which rose by +1.10% to $0.2126.
Closes the top ten cryptocurrencies Tether and stable +0.04%, trading at $1,01, which is absolutely natural for this cryptocurrency because the Tether is the most famous and widely used “stable coin”, in other words, the cryptocurrency, the value of which is consistently “pegged” to the dollar, which is convenient for exchange of cryptocurrencies on the exchanges without going into Fiat.
In General, the dynamics of the cryptocurrency market is currently the greatest influence of the news last week, among them some positive results brought rumors that South Korea will soon simplify its rules regarding the regulation of cryptocurrencies.
It is most likely that the country will adjust its rules and normative in accordance with the policy towards cryptocurrency, which comply with the country’s “Big twenty” (G20).
Such decisions, if they are introduced, seem quite logical, because the unified rules and standards regulating cryptocurrencies in the world will make this market a more controlled, easy to adjust, allowing faster and more efficient to keep track of possible violations and more effectively protect the interests of regulators and law-abiding users.
However, no new positive developments in the crypto market, maybe in the next week to be back under pressure. From the point of view of technical analysis, “home” cryptocurrency, Bitcoin, is in the resistance area $6770 per coin that price will be difficult to overcome the first time. If the market enters a stage of correction, the immediate goal of reducing going to be the $6300 for Bitcoin.
The expert of the company,
“International financial center”