The exchange rate of bitcoin skyrocketed: the Cryptocurrency has set a new record
Two weeks of almost non-stop growth, bitcoins are not only confidently overcame the $6200, but continued to strengthen after a brief hitch at a profit at $6000. BTC rising more than 3.5% and is trading at the time of writing about $6300. At the same time, daily trading volume is back above $18 billion, reflecting the high interest of buyers.
Remember that the increase rate in the beginning of the week was fed by the outflow of funds from altcoins, but in Friday most of the top altcoins have moved into the green zone.
Bullish momentum of the price of bitcoin is held contrary to the news about the hacking of the largest crypto currency exchange Binance, which was stolen 7000 BTC to $44 million at the current rate. In addition, there was a scandal around Bitfinex and Tether. According to the company, The Block, for all the major exchanges of the cryptocurrency was stolen by $1.35 billion, a Substantial part of these funds (approximately 59%) were abducted in 2018.
Dynamics of exchange rate of Bitcoin from the beginning of may resembles a parabola, noting the increasingly sharp rise by the day. The increase in prices has attracted the attention of the public. Fear of missed opportunities (many remember how dramatically growing rate in 2017), activates retail customers previously lost interest in the market.
Against this background, the capital that stood at the origins of the rally (from $3500 per coin), gradually out of the market. It is much easier to sell large quantities when around a lot of customers.
Of course, this is nothing more than our guesses based on the behavior of the stock market at the beginning of the last century. However, we see that until now, large funds generally hold off from investing in cryptocurrency.
Cryptoendoliths has a big ACE in the hole. At the end of 2017, the whales were clearly not going to enter the market at prices that were then on the market.
Then we saw a massive correction with the achievement of historic lows, and it is likely that those “sharks of wall Street” is already on Board. Since the long-term prospects of the sector and the importance of the blockchain, few have challenged. In the case of receiving in the coming months “green light” from regulators to launch products for institutional investors, we can gain new growth momentum.
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