The bitcoin exchange rate went into a nosedive, investors hastily sell cryptocurrency
Stock Markets Group – bitcoin exchange Rate on March 9 went into a nosedive, with many traders in a panic, close out their positions.
As it turned out wherever the price of bitcoin and no matter the heights and highs it reached, if there is a reason to fall means the asset will fall, and hardly anyone of the experts will be able at this moment to predict where the coin will stop.
These two days were no exception and have surprised the most ardent of optimists and supporters of Bitcoin. The cryptocurrency has fallen with such force that it literally is a day lost about $1 500.
18:05 GMT., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 8 926 (-3.94%)
Bitfinex – $ 8 914 (-4.01%)
Coinbase – $ 8 949 (-3.99%)
The market capitalization of bitcoin at the moment is $151 512 billion.
Just a day the market lost about $ 30 billion, and it is one of the maximum capital outflows in recent months.
The rate of bitcoin has fallen not casually
Only three of news was the reason for such a strong collapse of the course, the most popular cryptocurrency, but it once again shows how popular the bitcoin is a risky asset, and sensitive to external background.
The first and perhaps the most unpleasant news that will affect the price of the cryptocurrency was about hacking trading platform Binance. These reports were previously received in the market and was even known the exact casualty figures as, for example, with the exchange Coincheck.
However, this time the bitcoin exchange rate showed a strong negative trend, although the problems touched upon the Viacoin cryptocurrency, not the leading asset.
The second surprise for investors was the strong statement of the Commission on securities and exchange Commission (SEC), which the regulator called on all trading platforms that fall under the definition of “exchange” in the shortest possible time to register and legitimize their activities under U.S. law.
This statement alarmed by those market participants, who tried to trade bitcoin anonymously. But it seems the time when the decentralization and anonymity of crypto-currencies was the main factor of success came to an end. The rate of bitcoin has demonstrated disagreement with such statements regular fall.
The last thing that came as a surprise to investors that the shutdown of Japan’s two major trading platforms. The financial services Agency of Japan (FSA) recommends that the stock exchanges to improve to protect clients ‘ assets and risk management, as well as to obtain licenses to work.
It should be noted that, as of February, the month of March for bitcoin exchange rate was very bad. Most of the optimistic about this cryptocurrency have already changed their forecasts, and leave the market, leaving room for speculators.
Large investors and stay away from bitcoin because the current situation demonstrates his unreliability and unpredictability.
In all likelihood, the fall of Bitcoin will continue even though the earlier provided by the experts positive Outlook.
Bitcoin exchange rate today
In the current situation of BTC/USD is likely to fall to $8 000. For the new growth momentum, the price must reach this mark, which will support the accumulated orders.
Most analysts have revised forecasts say that the current situation, bitcoin does not have to cost more than $7 500, anything above that is unreasonable price. And probably in the next few months, the cryptocurrency will remain in this range.
The rate of bitcoin will reach $8 000, and will begin a new phase of growth. In this case, the struggle will continue between this level and the psychologically important level of $10 000.
But keep in mind that every drop of cryptocurrencies similar to the current, disappointing those who are still expected to enter the market and washes away the “money” of the tool. Therefore, the growth rates to the previous marks will be harder and longer.
The negative scenario
The rate of bitcoin will continue to fall, breaking below $8 000, down to minimum of $6 000. Below it the price of bitcoin will likely not go, but also active growth, we will not see for a very long time.
After BTC dropped below $10,000, players started to close positions because many of them have entered the market exactly at the intersection of this level.
Courses fall most cryptocurrencies together with bitcoin, showing a loss of 5% -10%. In leaders of falling rate of the Ripple, which has already lost of 7.43% and Ethereum sank in day by 8.22%.
Market analyst cryptocurrency
Stock Markets Group™