The rate of bitcoin will not be able to show new highs, futures the main problem
Stock Markets Group – bitcoin exchange Rate today is trying to recover, but these attempts have not yet succeeded.
After another dip below $ 6,000, the Bitcoin price Nov is strengthened and reached the level of 6 300$. Buyers of bitcoin is not very active, and even the presence of a relatively quiet external background does not allow them to seize the initiative.
Experts say that the asset will never repeat the last record on the level of 20,000 dollars, and there are several reasons, one of which is the beginning of futures trading.
Other cryptocurrencies are trying to recover. So the Bitcoin exchange rate Cash soared 3.12% and is at the level of$ 738 with capitalization of 12 756 billion.
Course Ripple grew by 1.97% and reached $ 0.46$ at market capitalization 18 257 billion. Ethereum has grown by 2.43% to us $ 446$ in market capitalization 45 128 billion.
20:25 GMT., major exchanges show the following values of the rate BTC/USD:
Bitstamp – $ 6 353 (+2.41%)
Bitfinex – $ 6 363 (+5.3%)
Coinbase – $ 6 360 (+2.38%)
The market capitalization of Bitcoin at the moment is $109 482 billion, Total capitalization of the stock market 221 953 billion.
The exchange rate of bitcoin is hardly a “shot” to their former levels
Famous Japanese economist and Advisor of the research Center of Finance Yukio Noguchi. In another study, the expert noted that the rate of bitcoin will not be able to grow three times to reclaim the lost, and it does not depend on the expectations of the experts.
The main reason why speculators won’t push the value of Bitcoin to former heights is futures.
“Because now you can trade bitcoin futures, you will never see a surge in prices”
On the one hand Noguchi notes that in connection with devaluation of bitcoin below $ 6,000, this made it more attractive and cheap than bankers, which is of course good.
But the emergence of the futures market has lowered the price of the digital asset, and this is the main reason we will never see strong growth coins.
“The price of bitcoin was the usual bubble, and now we are seeing a return to its most comfortable and justified levels”
Earlier, Federal Bank of San Francisco mentioned bitcoin futures as the main reasons for the fall of bitcoin exchange rate. Also it is noted that all goes to the fact that soon it will be possible to short the futures on the asset, which is also a negative impact on the price of the coin.
“The rapid rise of bitcoins and the subsequent decrease after you enter a futures trade is not accidental. This is consistent with the trading behavior of any asset, which appear derivatives. Futures help bitcoin to be cleansed by speculators, which became the main reason for soaring prices”
However, Yukio Noguchi considers that it is very good, as with falling prices, Bitcoin becomes a more attractive and accessible to those players and investors who could not afford a trade instrument previously.
Besides, falling value of the transaction in the network, because there is no hype that we saw in December of last year.
This statement has the right to life, but in our opinion should include the costs of mining cryptocurrency.
Experts forecast is that at the intersection of the quotations rate of 5 000 dollars, to service the transaction will not be profitable. And this is perhaps one of the main problems able to jeopardize the continued existence of bitcoin.
Bitcoin exchange rate today
Small growth that we can see on the chart, is nothing but a technical rebound.
Globally, the fall of bitcoin remains relevant. The cost of bitcoin has once again managed to overcome the level of 6 000 and recover. But in the current situation, the number of buyers is not enough to ensure continued growth.
The exchange rate of bitcoin, according to our forecasts remains vulnerable and at any moment could fall again under the key mark.
However, the delay at the current levels, can provide the establishment of price base (bottom) attempts to leap up and resume growth.
While on the price chart the most popular cryptocurrency, there are no clear signals that could indicate a consolidation of buyers. However, the pressure of the “bears” keeps bitcoin price in a narrow range.
We still recommend to stay out of the market as long as the asset does not cross the moving average and two lines of Ichimoku indicator will not give a opposite signal.
Market analyst cryptocurrency
Stock Markets Group™