The Bitcoin exchange rate retreating to around 6 800$, expert negative
Stock Markets Group – bitcoin exchange Rate today continues to move to around $800 after 6 unsuccessful attempts of growth the day before. Bitcoin has now reached the level of 12 April and is from the label $7 400, which can be seen on the chart.
The main reason for the fall digital coins, according to experts, there remain unresolved technical problems of bitcoin and different approach to regulating cryptocurrency market in different countries.
At 13:30 GMT., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 7 452 (-1.77%)
Bitfinex – $ 7 440 (-1.2%)
Coinbase – $ 7 445 (+1.20%)
The market capitalization of bitcoin at the moment is $127 036 billion.
Constant trial and Stripping that detect abnormalities in trading digital currencies, continue to have a negative impact on Bitcoin and other cryptocurrencies, even though the popularization of blockchain technology.
Experts attribute this separation of bitcoin exchange rate from technology, primarily with a speculative factor that is largely present in the price of digital assets today.
Many investors, by trading bitcoin realize the futility of such investments until their work remains outside the law and the capital is not protected in the legal field.
On the other hand the blockchain technology is attracting more attention from large companies that are actively implementing and developing software for use in business.
Bill Wagner, co-founder of the investment Fund “Step&Run” sees the failures of the growth rate of bitcoin for several reasons:
“Many players have become accustomed to the fact that Bitcoin is a tool with high volatility, and its cost will sooner or later return to the starting point. Technically it was before, and there are the facts of these cases. Today, however, the course of bitcoin began to consider not only the behavior of the crowd and the volume of open positions in one direction or another, bitcoin is affected even geopolitics”
One of the root causes of the weakness of the cryptocurrency market is the lack of opportunity to achieve new highs.
“Most large companies do not think about the value of Bitcoin, they are interested in the viability of the network, and this factor is now little tied to actual trading. Rather suffer the price of cryptocurrency from the network load, than the technology from speculation of players”
He also predicts the absence of strong growth, as they see the active supporters of the coin.
“From what we see in the information field, the essence of the dynamics will not change. Capitalization of bitcoin falls, and again grows a little, but all in the framework of capital movements in the global cryptocurrency market. Today it is difficult to find good reason that everyone will rush to buy bitcoin, as it is not of global interest”
But can we count on the repetition of history, based on technical factors of the dynamics of bitcoin?
Graph of bitcoin exchange rate
Probably not, since the last year much does not fit into the previous steady rise. 2017, it was a year of active speculation and euphoria, and therefore it is quite a high percentage of emotions and undue market risk.
Bitcoin exchange rate today
At the time of this writing, the price of cryptocurrency has lost about 3%, thereby demonstrating the lack of interest from potential buyers.
The fall of bitcoin below the key level of $7 000, most likely a foregone conclusion and it remains only to wait when the price will record a level of $6 800.
Then the buyers try to expand the market, and this will depend on the ability of the cryptocurrency in the future, to make a new attempt to storm the $10 000.
In the meantime, we recommend not to open new positions and stay out of the market.
Courses other cryptocurrencies are not far behind from the leader and also falling. So, as at the moment the Ripple is losing rate of 3.21% and reached the level of 0.6$, Bitcoin Cash eased to 5.79%, down to district 1015$, and Enhereum gave the market 1.26%.
Total market capitalization of cryptocurrencies at the moment is 282 895 billion.
Market analyst cryptocurrency
Stock Markets Group™