The Bitcoin exchange rate remains vulnerable, the fight for level 7 is$ 500 continues
Stock Markets Group – bitcoin exchange Rate today, may 31 continues to slowly climb. Yesterday the cost of the most popular cryptocurrency Bitcoin was not able to confirm the power of buyers, and at the end of the day fell by 1.5%, returning to the level of 7 300$.
Digital coin, a period of lull activity, and further growth will be hampered. This was particularly noticeable yesterday, when positive messages from South Korea about a possible lifting of the ban of the ICO in the country, only a few hours allowed bitcoin to grow stronger, came close to the level of$ 7500. However already in second half of day the situation in the cryptocurrency market has changed dramatically.
15:36 MSK., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 7 549 (+2.36%)
Bitfinex – $ 7 553 (+0.3%)
Coinbase – $ 7 549 (+1.7%)
The market capitalization of Bitcoin at the moment is $129 032 billion Total capitalization of the stock market 282 655 billion.
At the moment the capitalization of altcoins and cryptocurrency courses also demonstrate the growth and positive momentum.
The Bitcoin exchange rate Cash rose by 2.46% and is at a level of 1007$ if capitalization 17 291 billion.
The Ripple rate has appreciated by 2.12% and reached the mark 0.61$ at market capitalization 24 057 billion.
Ethereum price increased by 3.16% and reached 575$ in market capitalization 57 479 billion.
The bitcoin exchange rate and news
Meanwhile, the scandals surrounding the use of a digital asset criminal schemes continue. So it became known that prosecutors in South Korea confiscated 191 BTC in the case of distribution of child pornography.
As reported South Korean newspaper Yonhap, the offender was detained, and he is obliged to pay a fine in the amount of 640 thousand dollars.
But the judgment was another important fact, which, according to experts, has brought the South Korean authorities to the recognition of bitcoin a means of payment.
The same Agency notes that the confiscation of cryptocurrency happened after the Supreme court of South Korea ruled that cryptocurrencies can be considered as property in criminal cases.
Thus, reversing the earlier decision of the lower court that “the cryptocurrency exist in electronic form, and have no physical existence, and therefore cannot be used arrest as a property value.”
This case confirmed the ability of investigators and prosecutors to consider offering it as an argument in criminal cases, because they have received formal recognition.
Recall that in the EU many countries have recognized the crypto-currencies as property in the investigation of criminal cases. In particular, recently the prosecutors of Bavaria realized at auction cryptocurrency amounting to about $ 14 million.
Bitcoin exchange rate today
During the day crypto currency will remain under influence of the glimmer of light that is closer to the evening may increase.
The cryptocurrency has broken the downtrend and now the challenge for buyers to hold above the first key level of 7 500$. If this happens in the next few days, you can open a buy position on bitcoin.
The situation in the cryptocurrency market will remain under the power of the “bulls”, bitcoin exchange rate will continue to rise. The purpose of the quotes is the level of 8000$ over which the asset will need to fixate to confirm strong growth.
Otherwise, roll back to your previous marks will give a signal to bears and stimulates sales in the market of cryptocurrencies.
The negative scenario
Bitcoin exchange rate in case of unsuccessful consolidation above $ 7 500$ will again begin to fall. The first intermediate support level is the region of 7 000$, and then mark 6 700$, which is the last strong support level to new lows.
Market analyst cryptocurrency
Stock Markets Group™