The bitcoin exchange rate on 17 Dec: expect the legalization of crypto not earlier than 3-5 years
Stock Markets Group – the bitcoin exchange Rate continues the growth started on the weekend, and is gradually progressing towards the level of $ 3,500, adding on average 1.36%.
The current strengthening is difficult to name strong growth of prices of Bitcoin, rather a small technical correction. Moreover, given the gradual decline in liquidity in the financial markets and the withdrawal of investors on holidays, expect a “miracle” is hardly necessary.
Most popular cryptocurrencies today, also show plus. So, Bitcoin Cash has appreciated by 2.68% and rose to district 81.24 dollar, the value of the Ripple increased by 1.09% and reached 0.292 dollar, the price of Ethereum gained 2.26% and is at the level of 87.36 USD and Bitcoin exchange rate Gold rose 2.51%, and for one coin offered today 11.55 USD.
Total market capitalization of crypto-currencies is around 95 779 billion.
Chart bitcoin/dollar has not changed his direction and still indicates the development of negative dynamics of cryptocurrency.
The first target for buyers, where will the fracture pressure of “bears” stands at 4 500. Only reaching her quotes confirm a sufficient number of market players who are willing to push year of the most popular crypto currencies to new highs.
However, this scenario is unlikely, because in the coming days is not expected of anything that could cause a new wave of crypto purchases.
The rate of bitcoin will remain low for 3 or 5 years
About this recently reported cryptologist the General Director of payment system BitPay Stephen Pair.
He believes that speculation about the adoption and globalization of cryptocurrency lead to a rise in bitcoin exchange rate to levels which are far beyond its actual usefulness.
On a question of journalists on CNBC the reasons for the current drop digital asset to historic lows, he said:
“The price of bitcoin is too much of a speculative component, and that investors do this to her own expectations. I’m sure only a small percentage of the current value is justified”
He also predicts new highs after you take the bitcoin ETF, however, the reason is not only the new tool, and the fact of its legalization and acceptance by investors as such.
With regard to the use of bitcoin as a means of payment, CEO of BitPay has designated a period of 3 to 5 years and added:
“Previously I did a forecast within 10 years, however, in the current situation, I see it much earlier. I think that in three or five years you will be able to go to the restaurant or store and pay for the bitcoin purchase to be an ordinary thing”
We will remind that earlier the Commissioner of the SEC USA pierce Hester told cryptologist that the approval bitcoin ETF will not necessarily happen in the near future. It can happen in 20 years, maybe tomorrow, so investors should not be much to focus on this.
We expect that in coming days market will remain under pressure and the growth of digital asset will meet resistance around $ 3,500.
Market analyst cryptocurrency
Stock Markets Group™