Investors select the bitcoin after falling to $6000

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News feed gives captainvalor cautious hope for a market reversal to the upside. According to CoinMarketCap, the total market capitalization of crypto-currencies has grown since the beginning of July by 17% to $275 billion Over the last 24 hours, Bitcoin (BTC) increased by 5%, exceeding the mark of $6,650, up to levels two weeks ago.
Leading altcoins follow the direction for the most famous cryptocurrency, but adds significantly more active, and from 7% to 16.5%. Of the top 50 altcoins maximum increase of 32% showed anonymous coin Bytecoin (BCN).
Bitcoin updates the local maxima, the current increase comes against the backdrop of the growth of the trade volumes. Among the drivers on the news, you can allocate news on a possible positive decision of the us regulators in relation to Bitcoin ETF that is expected to attract new funds from institutional investors.
In addition to the growth of the trade volumes for optimism in the short term, encouraging the growth of BTCUSD after dips below $6000 in the last week of June. Fans of technical analysis will pay attention to the level of $6800 is expected which will mean the formation of figures “double bottom” will be the signal to buy.
Now is growing confidence that the $6000 again acted as strong support level for bitcoin. Area $6000-$6500 still looks attractive for purchase, as it was in November last year and later in February and April of this year.
Drawdown close to the levels “payback” hashing seems to attract the big players, who previously were reluctant to enter an overheated market. No significant negative news from the big players to slowly pick up market close to important previous support levels.
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Alexander Kuptsikevich,
Financial analyst,
FxPro