The exchange rate of bitcoin is ready for the second wave of sales, customers are left without support
Stock Markets Group – the exchange Rate of bitcoin today, on March 13 continues to fall, pulling behind him the rest of the cryptocurrency. The current situation in the market is chaotic and it looks like cryptologist loses interest in Bitcoin not only large investors, but also speculators.
18:53 GMT., main trading platforms display these values of the rate BTC/USD:
Bitstamp – $ 9 095 (-0.35%)
Bitfinex – $ 9 112 (-1.3%)
Coinbase – $ 9 108 (-2.12%)
The market capitalization of bitcoin at the moment is $154 769 billion.
The rate of bitcoin has become a hostage of the exchange problems
The current situation in the cryptocurrency market, indicates the flight of customers away from Bitcoin in search of alternatives. Recent days, the daily loss of cryptocurrencies range from 3% to 5% and this despite the fact that the external background does not bear special risks.
As it turned out, this behavior was due to the players not with the cryptocurrency and trading platforms on which it is traded. The risk of exchange rate of bitcoin are not the prohibitions of the authorities of China or Japan. As for the asset have faded into the background and future governing laws, as everyone understands that the existence of bitcoin should be legalized within the legal framework.
Today the main concern of the cryptocurrency exchanges, but rather the safety of funds held on the virtual accounts.
The blockchain technology has proven to be resistant to internal cracking, but the mechanisms that are involved in the transactions and trading, proved to be too vulnerable to fraudulent schemes and technology of the attackers.
Recall that in these days of major exchange Mt.Gox is in bankruptcy, and in order to pay the funds to the creditors the Board of Trustees should implement on different markets arrested cryptocurrency including bitcoin.
To date, we have implemented digital assets worth about $400 million, which is only one-fifth of the required amount. The process will be delayed apparently for a long time, and will have a strong negative impact on such an aggressive “stuffing” of bitcoin in the market.
Another disappointment for the crypto community was the hacking Binance, despite the fact that the service exchanges quickly reacted to the attack and prevented the disappearance of funds from accounts of the clients, this case gave another reason for the regulators to remind those who trade in bitcoin and other cryptocurrencies, about the high risks associated with the vulnerability marketplaces.
Experts note that technically this problem can be solved, but the possibility of new cases of hacking will remain relevant as exchanges, are now the weakest link in the schemes of manipulations with the price of bitcoin and hacker attacks.
Bitcoin exchange rate today
During the day, Bitcoin has tried to recover, but was immediately stopped by a new wave of sales. The asset price is again approaching the support at $9 200 and is trying to hold above. Today, however, the mood of the players indicate an unwillingness to make new purchases. Perhaps, on the eve of the G-20 summit, which will take place at the end of this week buyers took a break, and will not make large transactions.
After a short break, the rate of bitcoin will continue to rise. In this case, the nearest target is $10 000.
Further, the growth of cryptocurrencies will be difficult, because in this area, additional resistance is the moving average.
The negative scenario
The bitcoin exchange rate will continue falling and will fall below $9 000. In this case the price will try to go to the area of $8 000. In the current situation in the market a lot of negativity, and in our opinion it may be enough for the organization by the sellers of the new wave of decline.
Courses of most of cryptocurrencies in the first half of the day showed slight strengthening, but by 18:53 GMT., painted in red color, Ripple is losing 2.87%, Ethereum dropped to 3.5%.
Market analyst cryptocurrency
Stock Markets Group™