The rate of bitcoin will collapse if things remain as they are
Stock Markets Group – the exchange Rate of bitcoin marks the end of 11 January, the decline and slowly moves to the support 3 $ 200.
Over the last few days the sellers have added to your asset, about 3% of the most popular cryptocurrencies. The price of Bitcoin on the weekend and was unable to stop the sales, as a result, fell in the district 3 $ 500. The current situation in the market scenario repeats December 2018, and many experts in their forecasts indicate the global stop quotations only in the area of $ 3,000.
However, today, the stock market may see a slight optimism and adjustment of the positions of investors. So most of top ten cryptocurrencies show hesitant growth.
The Bitcoin exchange rate Cash fell slightly and is showing a minus in the range of 0.1% while still achieving the level of 125 dollars, the price of Ripple has strengthened by 1.64%, and is growing in the area of 0.324 dollars, the cost of Ethereum appreciated by 1.09% and is close to 117 USD and Bitcoin exchange rate Gold gained 0.33%, and one coin on the cryptocurrency exchanges of the world offer only 12 dollars.
Total market capitalization of crypto-currencies continues to decline and currently amounts to 109 billion dollars in 2018.
Chart bitcoin/dollar continues to point to increased sales. Despite the slight positive that can be observed in the morning, the dynamics of the cryptocurrency remains negative.
Technically, strong support remains near $ 3,000 and close to this level, we expect the resumption of short-term growth in the framework of the pending order should trigger.
If the price will keep this milestone, the growth of Bitcoin in the direction of $ 5,000 can be renewed.
Bitcoin exchange rate falls with the volume of trading
One of the reasons that BTC loses value, analysts say the sharp decline in trading volumes in the market. The total market capitalization were missing 15 billion dollars once the most popular cryptocurrency fell below 3 US $ 600.
In the current situation is not as important as the price of bitcoin interest from investors, expressed as times the volume of trading and if the trend continues, this may be the first important signal to the global depreciation of the most popular asset.
Also aggravate the situation, all kinds of rumours that are spread around the bitcoin and subsequently refuted, causing all new sales.
Thus, it became known that the Japanese regulator has denied reports that is considering the legalization of bitcoin ETF.
“Japanese financial services Agency (FSA) does not confirm the fact of considering the approval of the ETF in the country, or study the situation related with this issue”
In addition, the FSA confirmed that it does not consider adding the listing of futures on bitcoin in the financial markets: “currently, we do not consider such tools”
Once the cryptocurrency market was dominated by rumors, with the result that the exchange rate of bitcoin fell sharply.
Their position on crypto in General, and the popular digital asset in particular, the FSA explained the following comment:
“Given that in the current situation, the Agency is hard to find social value trade derived from cryptocurrency and come to a decision, we believe that there is no need to support trade in the financial markets”
We believe that this denial is associated with caution the BOJ and expectations from other financial institutions step towards the legalization of derivatives based on bitcoin and cryptocurrency.
In the first quarter as we wrote earlier, most officials, which will depend on the lobby for the promotion of innovative market will take a pause to verify the ability of BTC and other market leaders to hold the interest of the investors.
If these months show widespread rejection of tokens on the market, and minimize development-related cryptomnesia, pressure from regulators will increase and complicate the growth of bitcoin prices and the most popular assets in the future.
Also recall that some traders and experts today say that the current rate of the pair BTC/USD has the potential to decrease in the area of 1300-1500$. And it’s not the worst scenario, which is possible in the first quarter of 2019.
Market analyst cryptocurrency
Stock Markets Group™