The exchange rate of bitcoin is falling just because the buyers took a break
By the end of the week the exchange rate of bitcoin and all the altcoins proceeded to decline. The price of BTC is losing in the last 24 hours over 7% and is trading around $10’900, again breaking the circular level 11’000. Weekend often become the starting points of the dynamics for a new week, so now after the holidays in the United States we can see a surge of activity, and it is not necessary that it will return to growth.
Its role pressure can play a depletion of the momentum of growth on the daily RSI. Save the indicator under a mark of 70 on the index may cool the ardor of speculators, who focus on technical analysis and as we see, very much. A few adorns the picture the reduction of trade volumes in the fall rate, that is, the Bitcoin is falling just because the bulls took a break.
While all knowledgable about the cryptocurrency world closely monitors the price of bitcoin, it is obvious that altcoins absolutely not repeated dynamics of the last rally. The index of dominance of the reference bitcoin has reached 62% and continues to grow. Alternative coin is not interesting for the big capital, as the infrastructure during cryptogamy was created for BTC. Retail investors habitually buy altcoins, waiting for the duplication of the growth dynamics. However, most often, it happens in a very limited extent.
In 2017 boom ICO and mining as something absolutely new and unknown was moving forward quotes new “killer bitcoin”, but is now becoming increasingly clear that these coins need only a limited number of market participants that have a critical need for any specific features, such as complete anonymity as zcash for (ZEC).
It turns out that bitcoin maximalists were right in their commitment to one standard coin, as this is the approach initially follows the large capital. This strategy is easier, but practice shows that much more profitable. At the moment, rally is really centered on the most bitcoin, not the blockchain as a whole. Increasingly heard statements that the blockchain technology is the most overvalued in the world.
Against this background, the probable appearance of Libra from Facebook caused quite a stir among politicians and officials at all levels. US congressmen sent an open letter to Zuckerberg calls to stop the development of Libra. Problems can begin and a Visa/MasterCard that supported this project because presumably very stable Libra seems more real alternative to traditional money and remittances, rather than subject to speculation and volatilnosti Bitcoin.
Obviously, Facebook have to use all their firepower and army of lawyers to resist this pressure. However, you need to understand that any state is fundamentally critical issues where tolerance is not for anyone. The national currency is the main tool of any government, and attacks on her status out to the plane over any legislation.
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