The exchange rate of bitcoin began to rise adding to the price of 5%, bitcoin has overcome panic
Stock Markets Group – bitcoin exchange Rate March 19, coped with the panic and resumed growth. The most popular cryptocurrency, after heavy losses at 30% was able to recover and go above $8 000. However, investors are cautious these days with Bitcoin since the beginning of the meeting of G-20 in Argentina can bring unexpected statements and financial officials.
18:35 GMT., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 8 621 (+5.06%)
Bitfinex– $ 8 591 (+5.01% %)
Coinbase – $ 8 606 (+4.98%)
The market capitalization of bitcoin at the moment is $145 894 billion.
The exchange rate of bitcoin does not present a risk to the financial system
This is stated in the statement of the representatives of the joint regulators ‘ group, representing global Central Banks and ministries of Finance. Cryptocurrencies do not pose a threat to global financial stability in the world.
The Bank of England Governor mark Carney in a letter published on March 18 noted that at this stage, the financial stability Board sees dangers in blockchain technology and bitcoin in particular.
“In our assessment of bitcoin and crypto-currencies do not currently pose a threat to financial stability on a global scale due to the fact that their share in the financial system is negligible. Even given the recent growth, the consolidated capitalization of the cryptocurrency market was only 1% of global GDP”
This announcement came on the eve of the summit Big twenty, which will discuss the issues of the cryptocurrency market, including the impact of bitcoin and digital assets in the financial system.
“Given the small proportion of cryptocurrency and the fact that today they are not payment instruments as a replacement for traditional currencies, their impact on global finances are limited”
The topic of the regulation of cryptocurrencies is particularly acute on the agenda, the final week of the investigation associated with bitcoin and other assets have shaken the confidence of investors to the market. Moreover, authorities in many countries realize that the failure to take important decisions today that can result in loss of control over the market tomorrow.
Carney, as suggested by the experts were evaluating which coincides with many of the financial officials of other countries.
It is known that earlier the Minister of Finance of the USA Steve Mnuchin spoke on the same subject, and confirmed the same views on the situation around the influence of bitcoin in the global financial system.
Bitcoin exchange rate today
Cryptocurrency in recent days has been able to consolidate buyers and to compensate for a significant part of the losses of the previous days. The market situation is in favor of buyers, which confirms the growth of other cryptocurrencies.
The rate of bitcoin will continue to rise towards the next key level of $9 000. Further resistance around this level performs a moving average that will have additional difficulties for the price.
However, if the current meeting of Finance Ministers held in the framework of the Big twenty, will bring to the markets a positive decision, it will help buyers of bitcoin and cryptocurrency will go higher towards $10 000.
The negative scenario
The rate of bitcoin will not be able to overcome the next target and turn down.Fracture market sentiment we see today is not yet a full-fledged growth. Note that at the moment, crypto currencies need regulation, and this process market participants are willing to buy, does not bind with the positive. A new wave of decline in value of Bitcoin may recover in the case if the advertising ban ICO Twitter confirmed.
Recall that the rumors that the biggest social network could follow the example of Google and Facebook appeared on Sunday, and according to the information channel Sky News the final decision will be taken by the company in the next two weeks.
Cryptocurrency courses in the afternoon are also strengthened and grow in the range of 1% -5%. So the price of Ripple rose 4%, while Ethereum has risen by 2%. In the coming hours, we expect growth of activity of buyers on the market.
Market analyst cryptocurrency
Stock Markets Group™