The exchange rate of bitcoin continues to fall, the second wave of sales at its peak
Stock Markets Group – bitcoin exchange Rate on March 17 fell below 8 000, breaking important support, despite yesterday’s slight optimism. Investors did not have enough before the weekend there, in order to remain in the market on the weekends. In the result Bitcoin confirmed our forecast and is highlighted in red in the first half of the day.
Black band for course cryptocurrency continues. New scandals involving the theft of digital assets, dishonest ICO and new bans of the authorities of different countries, all of this was last week, and did not allow the price of bitcoin to recover from the last collapse.
At 00:20 GMT., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 7 810 (-5.50%)
Bitfinex – $ 7 790 (-8.8% %)
Coinbase – $ 7 836 (-4.8%)
The market capitalization of bitcoin at the moment is $135 231 billion.
The exchange rate of bitcoin needs to be “fresh” money and loyalty
CFO Vasant Visa Prahbu during an interview with the Financial Times once again doubted the feasibility of the existence of bitcoin and cryptocurrency. According to him this is the tool, which is used by fraudsters and corrupt officials.
He noted his shock, the fact that those who call to buy or sell bitcoin you do not understand this. The unknown origin of this cryptocurrency is the main issue of legalization, while traditional currencies are controlled by controllers who are responsible for their emissions.
“The money obtained by dishonest means difficult to use in the banking system. In this case cryptocurrency acts as a phenomenal tool, and I’m sure every corrupt official or fraudster will use it”
“It scares me when the bitcoin asking the people who do not understand this, for example the driver of the limo traveling to the airport or the cashier in the Bank”
“If the Shoe tells you about what stocks to buy this suggests that we are dealing with the usual bubble” – he reminded of the classic exchange axiom.
Vasant Prahbu, is one of the most ardent critics of bitcoin, and has repeatedly expressed support for the financial officials proposing to ban the cryptocurrency.
The current situation with the most popular cryptocurrency really is all more to do with criminalization. The losses of the investors are very often exceed hundreds of millions of dollars, and of course this affects the future course of bitcoin.
Besides, last week confirmed fears that big business tries to stay away from cryptocurrency because of their vulnerability to criminal schemes.
Google has put itself a point in this issue, and apparently this is not the last decision regarding bitcoin among the world leaders in advertising.
Bitcoin exchange rate today
The cryptocurrency has broken the important psychological level of $8,000 and rushed below. Buyers took profits before a meeting of G-20, which will begin on Monday.
On the topic of bitcoin and digital assets as was expected, the officials will give special attention to. It is not known what decisions will be taken and whether they will provide support to the market. Therefore, most players prefer on the weekends to stay out of the market, thereby weakening the position of Bitcoin.
Once the growth of cryptocurrencies, we expected only after the price drops around $6 000. Prior to that, the rate of bitcoin will remain under strong pressure even without the emergence of new reasons. The future of cryptocurrency market increasingly vague, and it is, perhaps, the main reason for the caution of investors today.
The negative scenario
The rate of bitcoin will continue to fall lower and the first target for cost stands at $6 000. Further, the cryptocurrency will try to gain a foothold at this level, however, re-test it can degrade even further. As we wrote earlier, it will be $5 500.
Next week according to our forecasts, the balance of the players will shift to the sales, so in the next few days it is better to stay out of the market.
Courses most cryptocurrencies are also surrendered to the onslaught of sellers and fall. Ripple in 24 hours lost 8.95%, and Ethereum dropped to 8.27%. In the next few hours to stabilize the value of digital assets is unlikely.
Market analyst cryptocurrency
Stock Markets Group™