The bitcoin exchange rate recovers, but investors do not hurry to buy
Stock Markets Group – bitcoin exchange Rate today March 12 is strengthened, while remaining within reach of the home key from the label $10 000. On the first day of the week Bitcoin continued uncertain growth, giving the chance to buyers to become more active after a heavy fall the day before.
17:20 GMT., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 9 820 (+2.99%)
Bitfinex – $ 794 9 (+13.8%)
Coinbase – $ 9 814 (+2.77%)
The market capitalization of bitcoin at the moment is $166 729 billion.
The rate of bitcoin will be discussed at the G-20 summit in Argentina
Expected on March 19-20, there will be a meeting of the leaders of Big twenty, where one of the main issues to be discussed will include the regulation of cryptocurrencies. Experts expect that this meeting in addition to loud statements will determine future actions of the authorities of different countries, and will be the rate of change of the vector of the banking and financial sector with respect to bitcoin and other digital tools.
It is important that this is not the first time the problem of kriptonyte will be discussed at such a high level. This, according to analysts, an indication that cryptocurrencies are now an important and relevant topic not only for the miners and speculators, but for the serious state institutions.
Perhaps by the end of the week the summit would calm the market, step behind the veil of the future intentions of officials to lead cryptobytes to legalized functioning. In our opinion, the rate of bitcoin will also depend on the outcome of the meeting and by the representatives of the countries.
Chief Executive officer of PayPal speaking at a meeting of the Economic club of new York said that applies to cryptocurrency and bitcoin as an experiment.
“Cryptocurrencies are in need of improvement of legal regulation and a number of other principles. Now this experiment is not clear in which direction it will develop in the future”
This statement was made several days later after the company applied for a patent for the improvement of the transactions conducted with the cryptocurrency.
Experts believe that despite the fact that PayPal does not declare openly their support of the market of digital assets, the company still strives to stay abreast of new technologies to improve affordability for customers.
By words a press-the Secretary of the company, the billing provider continues to work on exploring possibilities of blockchain technology.
Bitcoin exchange rate today
As of today the cryptocurrency began the growth. Technical rebound continues Bitcoin prices to the psychologically important level. The previous week most altcoins have lost about 30%, which was possible because of the security problems of the cryptocurrency exchanges.
In our opinion the rate of bitcoin has successfully coped with another negative, even though a loss of about $ 1,500.
Support to stop the depreciation of bitcoin made the lower border of the Ichimoku cloud and allowed the asset to start a new round of consolidation. As we wrote earlier, the probability of formation of a technical figure “double bottom”, and while dynamics of quotations confirms our forecast.
In the coming days, we expect that the course will be able to complete the formation of the formation, it will be a strong confirming signal the beginning of a new wave of growth.
The negative scenario
The rate of bitcoin will reach the key from the label with $10,000 and again turn down. A downturn is possible in the neighborhood of $9 000, but we do not expect the next hike cryptocurrency below this level.
In the current situation, the buyers managed to take control of the market, so the balance of forces now tilted to the upside.
Rates of major cryptocurrency on the market demonstrated multidirectional movement. 17:20 GMT., the rising cost of Ripple, a slight drop of 0.10%, Ethereum 24 hours on the contrary gained 1.33%.
Market analyst cryptocurrency
Stock Markets Group™