The cost of bitcoin rose above $ 4200
The cryptocurrency market has entered the green zone – the price of bitcoin rose above $4200, the price of most digital money has increased by more than 10%, and the total capitalization increased by $18 billion per day.
As has become tradition on the cryptocurrency market movements occur without apparent reason, or the market learns about them after the fact. So today, in the news around the world loudly announced that the market is growing again but, in General, unanimously silent on what events have affected the quotes.
Rather, the motion triggered by purely technical factors, and correction after fixing their positions by sellers.
Thus the graphs of BTC/USD, ETH/USD, XRP/USD, LTC/USD formed an absolutely identical model. It is possible to assert with confidence that the correlation is the leading cryptocurrency of the moment 100%. This feature also indicates that the current growth is triggered solely by technology, as if growth was to news, it would lead to greater outbreak of the instruments. to which directly related.
For example, news about the launch of major institutional platform type Bakkt primarily affect price Bitcoin (BTC), news of the accession of new companies to the system quick and cheap Intercontinental transportation by xRapid stimulate the growth of Ripple (XRP).
From the point of view of technical analysis charts the leading cryptocurrency, Bitcoin, Ethereum, Ripple, Litecoin has formed a clear reversal pattern that suggests that the current corrective growth will temporarily continue. If this idea will get the testing, the BTC/USD has the potential to grow to the levels of $5000 per coin, Ethereum may strengthen to $135, Ripple – K $0,4278, Litecoin – $38 (all prices are according to the exchange Coinbase).
From a news background the most striking event on the morning of Thursday, November 29, to celebrate the opening of OTC trading platform for cryptocurrency Coinbase, adding to the sanctions list USA bitcoin wallets of the two Iranians in the framework of individual sanctions, as well as news about the losses of cryptocurrency trading Bank Mike Novogratz, who from the beginning of the year amounted to $136 million
All the news, though remarkable, but not cause movements of the leading crypto assets, but only serve news background.
“The international financial centre