The bitcoin exchange rate is reduced under a technical correction, the price took a break
Stock Markets Group – the exchange Rate of bitcoin, after going higher to around $11 500 began to fall. As it has already become a tradition, over the weekend the cost of the most popular crypto currencies usually decreases slightly before the new week. The popularity of Bitcoin remains high along with the growth of investor activity in the market.
At the time of writing the major exchanges show the following values of value of bitcoin:
Bitstamp – $ 11 181 (-2.30%)
Bitfinex – $ 169 11 (-2.0%)
Coinbase – $ 11 159 (-2.24%)
The market capitalization of bitcoin at the moment is $189 641 billion.
In recent days bitcoin has greatly advanced in price, firmly entrenched above the new psychological mark of $11 000. Investors continue to lay the optimism quotes and increase purchases.
The past week for cryptocurrencies were without any shocks, therefore, the asset remained in an uptrend until Saturday and only today shows a decline.
However, there are more reports about what bitcoin is firmly entrenched as a digital tool for earnings before the end of the year. Besides non-stop action with global regulators who are trying to develop a joint action plan for the legalization of the cryptocurrency market.
The bitcoin exchange rate and experts
As suggested by one of the most ardent supporters of bitcoin Roger Ver, by the end of this year, the Ethereum will exceed the capitalization of the main cryptocurrency. The first signs that the trend started already visible.
In his analysis he notes that over the past year the second of the capitalization of cryptocurrency, increased its price by 8 times, while the exchange rate of bitcoin is behind in this regard.
“Today, the number of transactions in Ethereum bitcoin exceeded, and in some days of the transaction other aldonas can far exceed the transactions with the main cryptocurrencies”
“Thus says Ver, bitcoin has strongly handed over positions on the main characteristics which determined its leadership, and very soon he can take second place in the ranking giving leadership to the competitor”
Thomas Frey, head of the Intitute DavVinci that specializiruetsya on analytical studies in various fields believes that by 2030 cryptocurrency will replace 25% of the national currency, as their effectiveness is much higher than traditional money.
His predictions are based on the fact that many politicians and financial officials began to actively discuss the topic of bitcoin, and try to stay in the trend.
“When such leaders like Christine Lagarde fear of repression by the Central banks of the cryptocurrency, that’s saying a lot”
As futurist said that operations with bitcoin should be attributed to real estate transactions, but only in this case the sale of the digital asset in the network blockchain.
Interestingly, last month, many critics of bitcoin began to see in it not a pyramid or Scam, but a very real threat to the banking system. That only confirms the ability of cryptocurrency to make substantial changes in traditional payment mechanisms, and worthy to take their share of the market.
Bitcoin exchange rate today
In recent days bitcoin has significantly increased in price, and came close to $11 500. However, the proximity of the weekend somewhat diminished the activity of buyers, as a result, we see today a decline in the value of bitcoin and other cryptocurrencies.
According to our forecasts, the price pullback, which occurred quite valid because the graph shows that this is the second attempt, when the price is trying to overcome this mark. However, we look forward to continued growth of Bitcoin, even if reduced maintenance will be delayed for a few days.
Bitcoin price continues the upward movement and breaks the level of $11 500, in this case, the first important level at which buyers will meet resistance, will be the level of $12 000 which is quite a bit.
The negative scenario
The rate of bitcoin will decrease in the neighborhood of $200 10 the additional support is a moving average. If this level will not stand, and bitcoin falls below $10 000, the next target will be the level of $8 000. However, in our opinion such a scenario is unlikely, given the increase in buyer activity in the market of cryptocurrencies.
Kusy cryptocurrency on the market as well show a negative trend, which is caused by the decrease of the underlying asset. Most altcoins are going down not more than 2%-3%, which meets technical correction.
Total market capitalization of cryptocurrencies at the moment is $ 412,5 billion.
Market analyst cryptocurrency
Stock Markets Group™