The exchange rate of bitcoin is slowly slipping down under the pressure of the summer lull
Stock Markets Group – bitcoin exchange Rate today July 2, remains above the key of the label 6 000 dollars in trying to start the growth.
After a brief growth to drop 6 to$ 500 two days earlier, the Bitcoin price retreated again, which gave reason and others Aldona to continue a gradual decline.
The current situation in the stock market is relatively calm, and it creates quite favorable conditions for small purchases from current lows.
The remaining tokens are left in a small minus. So the Bitcoin exchange rate Cash fell by 0.69% and is at a level of 731$ with capitalization of 12 599 billion.
The Ripple rate fell by 0.94% and reached $ 0.45$ at market capitalization 17 914 billion. Ethereum was down 0.67%, and made up of 447$ at the market capitalization 45 310 billion.
13:50 Moscow time., major exchanges show the following values of the rate BTC/USD:
Bitstamp – $ 6 318 (-0.5%)
Bitfinex – $ 326 6 (-0.9%)
Coinbase – $ 6 318 (-0.6%)
The market capitalization of Bitcoin at the moment is $108 819 billion Total capitalization of the stock market 221 538 billion.
The exchange rate of bitcoin depends on the mood of social networks
An interesting study was conducted by the employees of Stevens Institute of Technology, new Jersey, which confirms the possibility of manipulating the exchange rate of bitcoin through social networks.
The authors argue that the positive dynamics of the value of Bitcoin coincides with the positive reviews and trends on social networks.
In the analysis of comments left by users in a particular period, it became clear that information the excitement in the posts very often has an impact on the price fluctuations of bitcoin and other cryptocurrencies.
However, as it turns out, the greatest risk of manipulation of cost are not active participants in the discussions, and the “silent majority”. That is, as a rule, those who do not is an active participant of the stock market and even has a balance of bitcoins.
Some rare statements in the periods of the strong motion rate digital coins can sometimes increase the movement several times or expand it in the opposite direction.
This, of course, does not mean that dynamics of quotations of bitcoin depends only on the behavior of users of social networks, but confirms their influence.
We have previously noted the fact that in the conditions of information “hunger” and lack of reliable intelligence sources there is a high risk about market movements associated with the rumors and price manipulation.
This study confirms these trends on the market, however you should, of course, to consider the root cause.
The fact is that most experts give their predictions after the price started to move, and the reaction of bitcoin is secondary. Therefore, in our opinion, the social network and news noise can complement, reinforce market trends, but to call the beginning of the growth or a sharp drop in the exchange rate of bitcoin is unlikely.
However, this point should be considered, because until today the cryptocurrency too little fundamental factors that could mitigate the impact of information trends.
Bitcoin exchange rate today
Cryptocurrency remains above the important psychological mark, which gives time for the buyers to consolidate forces for a breakthrough upwards.
Willing to sell bitcoin on the market just not a lot and attempts to resume the downside of course is not possible.
The rate of bitcoin will start from the moving average and continues to rise. In this case, the first benchmark for buyers will be around 6 $ 750, where the slow line of the indicator Ichimoku. If the resistance holds then we expect the next bitcoin stop at the level of 7 600$.
The negative scenario
The rate of bitcoin will resume its decline and go below the moving average. In this case, price $ 6,000 remains an important psychological mark, after which the digital asset will go in the area of 5 500$.
In the current environment, we consider the negative scenario as more likely, even given the mild optimism due to the recent growth of bitcoin to the level of 6 500$.
Market analyst cryptocurrency
Stock Markets Group™