The exchange rate of bitcoin may rise to $ 25,000 after the launch of the ETF

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Battle bitcoin bulls and bears in the cryptocurrency market has entered a new phase of deterioration. This time the battle was over the threshold of $6,000. Bears managed to break this level, and on 24 June the exchange rate of bitcoin fell to $5,850. It is likely that this level was the psychological trigger for the bulls, as a result, the exchange rate Bitcoin (BTC) rose sharply to $6,274 for the moment.
Altcoins duplicate the dynamics of the reference currency. For the week the total market capitalization of crypto-currencies have fallen by $31 billion from $286 billion to $254 billion.
The current dynamics of bitcoin and the stock market as a whole tune in a positive way. We see an impressive influx of buyers after the recent failure below the $6000. This cannot be considered a reliable long-term buy signal, but is able to shift the balance toward buyers. Although the last day of the bitcoin exchange rate remains at the same level, yet the growth in trading volume amid a rebound often precedes further growth.
In the last around bitcoin and cryptocurrency in General appear positive news. The launch of exchange-traded funds (ETFs) focused on bitcoin, unable to push the benchmark rate of the cryptocurrency to the range of $25,000 – $44,000, according to NewsBTC. In the case of favorable attitude of regulators to ETFs, will open the doors for the American market and especially investment companies.
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Alexander Kuptsikevich,
Financial analyst,
FxPro