The bitcoin exchange rate fell by 10%, the expert said the main reason
Stock Markets Group – bitcoin exchange Rate today, August 5, was fixed below the psychological mark at 6 971$ and continues to steadily fall.
The price of Bitcoin goes to the next support which is located in the region of 6 800$. If this scenario is confirmed, the sale of bitcoin in the cryptocurrency market will be even greater.
Last week the buyers are leaving the market in anticipation of the completion of correction the most popular crypto currencies after strong gains yesterday. However, the process was delayed, and the rate of the digital asset remains under pressure.
Cryptocurrency of the top ten showed multidirectional dynamics. So the Bitcoin exchange rate Cash slightly decreased by 0.18% and is at level 694.64 $ for capitalization 12 020 billion. The Ripple rate increased by 0.65% and reached $ 0.4324$, with market capitalization 16 943 billion. Ethereum fell by 0.31% and reached 405.64$, with market capitalization of 41 051 billion.
10:32 in Kiev, the main exchanges show the following values of the rate BTC/USD:
Bitstamp – $ 6 972 (-0.53%)
Bitfinex – $ 6 978 (-0.3%)
Coinbase – $ 6 972 (-0.13%)
The market capitalization of Bitcoin at the moment is $120 365 billion, the Total capitalization of the stock market 234 856 billion.
Bitcoins: error CoinMarketCap or manipulation?
Yesterday’s sell-off intensified cryptocurrency crashing on a popular resource, which resulted in the courses of some popular crypto currency was inflated by almost 1 000%.
For example, the price of a token MOAC was overstated by 905%, and Bitcoin Diamond increased by 876%. The bitcoin among the leaders was a growth of only 12% at the end of the day, but also came under doubt, as its price in some areas, according to CoinMarketCap exceeded $ 70 000.
Cryptologist after a short pause began to Express an opinion about the attempts of most popular resource to manipulate prices, however, later came the explanation. Carolyn Chen, Vice President of marketing of the site will inform the user:
“As a result of errors in calculations of the rate of Tether, markets using the cryptocurrency a few USDT, was artificially inflated”
We will remind, earlier it was reported that CoinMarketCap has launched an API on a paid basis, including ranking of stock exchanges, and added Analytics for the derivatives market. Apparently this fault could cause the new changes on the website.
To the current time, the data situation has stabilized, but the rate of bitcoin and other cryptocurrencies is not in a hurry to recover.
Bitcoin exchange rate today
At the moment, crypto currencies remain under pressure and continue to fall. The situation on the market is controlled by sellers and the risk of bitcoin falling below increased. Yesterday’s sales scared investors who were forced to close positions and exit positions. Thin summer market can at any time change the current dynamics, therefore, requires special attention to active players.
Today we consider the negative scenario as the primary, in which the rate of bitcoin will continue to decline to around 6 to 800 dollars, where it is possible to get some respite. The signal lines of the Ichimoku indicator turned down along with moving average, which is the first signal for the price reversal.
However, in case of reversal of the value of the cryptocurrency at the current levels, there will be hope for the resumption of growth. Technical correction is deeper, but still does not negate the previous growth.
Market analyst cryptocurrency
Stock Markets Group™