The bitcoins experienced a decline of 13% but in a hurry to recover losses
The rate of bitcoin has experienced another wave of correction, which has reduced the cost of the first cryptocurrency to 13%. On Friday morning, BTC is already showing signs of a return of consumer demand, which intensified to take this opportunity to enter the market on a pullback from highs. The reference value of the cryptocurrency is approaching $11’700, whereas at the start of the day the price was down at $11’000. In this case, the index of dominance of Bitcoin has risen to 65.4%, the maximum value for the half year.
Altcoins are having difficulties with growth. Earlier in the week there was simply a blood bath, but recovery in demand still in no hurry to help. At some point, altcoins drop out of the TOP 10 reached 20%. Note that dissatisfaction with the price dynamics of alternative cryptocurrencies ripe for a long time. Many investors bought around current levels, however, did not see a repeat in 2017 when alternative currencies were added quickly “benchmark”.
Sale heated altcoins and crypto media that point to the current senselessness of the existence of most alternative coins. The end of an era deprived of the Ethereum ICO constant feeding of live funds, whereas more sophisticated counterparts Ethereum also now lost its relevance. Anonymous coins including Monero, zcash for and Dash, still anonymous and certainly popular in certain circles. However, to get into the mainstream they need the infrastructure. Ripple is faced with serious difficulties in the integration of token XRP in remittances. Everything points to the need for the emergence of new projects, while the old is now seriously stalled.
The participants of the stock market is now more clearly divided into 2 camps: some follow ultrabasic views concerning the future movement of bitcoins and altcoins even, but others point out the fake trading volume of exchanges and the completely speculative nature of bitcoin prices.
However, you should always remember about the phenomenon of “black Swan” by Nassim Taleb. It is particularly relevant in relation to bitcoin: as soon as the public increases confidence in further growth, which increases risk. You can arbitrarily predict the future based on the past, but each time, in practice it remains completely unpredictable and its course.
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