The exchange rate of bitcoin is on the verge of rising and falling
Stock Markets Group – bitcoin exchange Rate today remains in an inactive movement, drifting just below the key level of $ 4,000, losing 0.55%.
The situation in the cryptocurrency market has remained calm, even considering the latest news about which we wrote earlier. The price of Bitcoin starts the year 2019 without active buyers, but she managed to remain at the previously reached levels.
Most of the cryptocurrency in the top ten demonstrated multidirectional movement.
The Bitcoin exchange rate Cash is losing 0.86% and reached the level 163 of the dollar, the price of Ripple fell to 0.54% and went to 0.3679 dollars, the cost of Ethereum consolidated at 3.89% is $ 148, and the rate Bitcoin Gold fell by 0.69% and for one coin offered 13.48 USD.
The market capitalization of cryptocurrencies at the moment is 120 458 billion.
Chart bitcoin/dollar also shows the neutral dynamics of quotations. Technical indicators are holding BTC within a narrow range, and the bidders are in no hurry to radically change the situation.
If the digital asset will increase the first target for the buyers will mark 4 $ 200, where the bottom border of Ishimoku cloud.
If the balance of power will shift in the direction of the sellers, the first support for the value of bitcoin will mark 3 $ 200.
However, in our opinion, the players of the stock market will take a break until the completion of the long winter break, and will resume activity again only in the second half of January.
The bitcoin exchange rate remains in the correlation of gold and other assets
At the beginning of his popularity, many experts were making predictions that bitcoin will replace gold in the digital economy. Many even relied on the replacement of physical metal in favor of a digital asset.
These messages most often appear in the period of peak growth of BTC when the token increased to $ 20,000.
However, the cost of bitcoin to start of the global downturn, the situation changed radically and today the tandem gold-bitcoin is a little different.
The recent fall in the exchange rate has shown that often those who actively close positions in the period of instability of the digital asset transfer free money into gold, as recently reported by the Wall Street Journal.
Correlation of bitcoin as well seen with other traditional financial instruments such as stock market or currency.According to experts, it happened for several reasons.
First, the capitalization of the stock market, kryptonyte and the influx of institutional money. Despite the fact that the issues of regulation of crypto is not solved yet, capital continues to go into bitcoin and other cryptocurrencies.
Second, venture capital in the period from 2013 to 2017 increased from $ 96 million to over 2 billion. Blockchain technology and the BTC in this regard are the leaders of investments.
Thirdly, the search for alternatives to traditional tools in banking sector and financial markets. Established traditional approach to the banking business requires revision as the technology changes, and monopolies do not allow the client the choice of staying true to tradition.
By the way, thanks to the innovators and narrow circle of cryptonomicon, bitcoin has become so popular, and its rate reached a maximum at the moment of elevation.
We expect, in the short term, the market will be “quiet” and active members would not accept radical solutions to new messages for regulation of the stock market.
Market analyst cryptocurrency
Stock Markets Group™