The exchange rate of bitcoin fell below$ 7,500, but growth will continue
Stock Markets Group – bitcoin exchange Rate today June 5, continued to disappoint investors, developing to the downside.
Suddenly, yesterday in the second half of the day the price of Bitcoin has dropped sharply over an hour for 300 dollars, settling close to a level 7 470 USD.
Most altcoins show the uncertainty of the likelihood of strengthening in the near future.
So the Bitcoin exchange rate Cash fell by 0.66% and is at a level of 1090$ capitalization 18 814 billion.
The Ripple rate strengthened by 1% and reached 0.66$ at market capitalization 26 136 billion.
Ethereum price increased by 0.31% and reached 593$ market capitalization 59 386 billion.
12:50 a.m., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 7 446 (-0.56%)
Bitfinex – $ 7 445 (-2.1%)
Coinbase – $ 7 444 (-0.29%)
The market capitalization of Bitcoin at the moment is $127 482 billion, Total capitalization of the stock market 286 244 billion.
The exchange rate of bitcoin fell after the departure of the crypto currency exchange Hibtc from Japan
Most likely the sudden collapse of the bitcoin exchange rate was the result of reports that eighth trading volume of the cryptocurrency exchange Hibtc stopped the customer service from Japan.
As you know, the law on the provision of payment services, which became the reason of such decision, in force in the country in April last year. It was a breakthrough decision, and it has given the opportunity to accept bitcoin as means of payment in Japan.
However, in addition to this document, requires all cryptocurrency exchanges operating on the territory of the country, to obtain a permit to legalize the work.
Currently such licenses received 16 cryptocurrency sites, and the rest were warned by the financial services Agency (FSA) about the need for registration.
Positive news for the bitcoin exchange rate was the information that the IMF continues to be interested in cryptocurrencies, and even made a video which was later posted in the Twitter account of the world Bank, telling about Bitcoin, Ripple and Ethereum.
In the video, talk about the risks associated with digital coins, as well as the advantage of transactions using blockchain technology.
As we wrote earlier, with the representatives of the IMF have increasingly heard statements that the emergence of bitcoin and other cryptocurrencies, this is a breakthrough in technology which in the future will be actively used the global financial system.
Bitcoin exchange rate today
Yesterday’s fall of bitcoin has been unexpected for buyers and sellers. Immediately began to appear forecasts of experts that the risk of another fall of bitcoin again in the spotlight.
However, in our opinion, as long as cryptocurrency remains above the key level of 7 000$, to worry about the beginning of a long sales makes no sense.
Today the exchange rate of bitcoin is still under pressure below $ 7,500 dollars.
Bitcoin exchange rate after a short break continue to rise. In this case, the next goal is the interim resistance in the region of 7 550$, where the moving average.
The price could linger a while at this point, but globally buyers will try to push Bitcoin to 8 000$.
In the current situation, we expect that cryptocurrency will resume growth as early as tomorrow, so the bulls will get a chance to open a new buy position.
The negative scenario
The rate of bitcoin will not be able to resist and will collapse to around 7 000$. In this case cryptocurrency freely falls into an area of strong support, 6700$. If the fall by this time will increase, further developments will be focused on the sale of the asset. However, at the moment our forecast is focused on the growth of bitcoin prices.
Market analyst cryptocurrency
Stock Markets Group™