The exchange rate of bitcoin falling rather than rising
Although the rate of bitcoin falling rather than rising, in General the market sentiment is very bullish. Find bear-maximalist is now quite difficult, and nobody wants to look.
A long sideways trend raises some concerns about a possible recession on the principle of “not rising”.
However, all recognize that the probable stagnation around the current levels is that the rate of BTC was faced with a very heavy resistance and at the same time the psychological level of $10,000. After the end of the bear market, bitcoin has a long way up for a relatively short time: it is not surprising that we are now seeing a process of consolidation.
At the same time, altcoins cause more significant and controversial. In this field much more “sad bear.” However, this weekend showed a very unexpected surge of prices of altcoins: at some point they obviously grew up, and the price of bitcoin were falling.
The index of dominance BTC first showed the momentum to the downside and at the moment, again broke through the circular level once on 69.6%.
Unlike in 2017, when at the mention of any cryptocurrency necessarily indicated its purpose and technology, it is now increasingly rare: no one seriously considers the coin as a means for payments in “industrial scale”, only noting any qualities that can help or hinder growth/decline rates. As a means for calculations is now used, except that the Tether (USDT), which has the stability and the properties of cryptocurrencies. All the rest have become some sort of slot machines in Las Vegas. And it suits all.
The index of fear and greed bitcoin (Crypto Fear & Greed Index) now on the value of the 41 – Fear. The lower the level, the stronger the fears of market participants and the more profitable to buy cryptocurrency. But the higher the value, the closer the point of sale market. Now the index indicates that the potential for growth is still there.
In preparation for the major dynamics you can also select a transaction on an unidentified wallet in the amount of 94.5 K BTC, which is only slightly not up to a billion dollars at the current rate. Some believe that this operation is associated with activation of Bakkt, others see the preparation for the sale, others believe that this is another manipulation of the market. May be right all sides at once.
The overall picture is added and news from the Telegram, which finally announces the imminent launch of the project. Under the terms of the agreements with the investors, the developers have to start the blockchain until October 31, otherwise they will have to return the money. Hardly anyone of the participants of the closed ICO will ask for the money back, given the prospects of the project on the market, however, the completion time would be a demonstration of very good taste. Given all of the startup projects, this autumn may prove to cryptocurrencies is very hot.
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