The rate of bitcoin will stay above $ 6,000, buyers waiting for a reason
Stock Markets Group – bitcoin exchange Rate in recent days remained near 6 $ 300, starting the second month of summer the lows.
The price of Bitcoin after a slight increase to 6 500$ and it came down to moving average where trying to gain a foothold. Significant changes in the market did not happen and quotations most popular cryptocurrency manages to stay above the psychological level for the third day.
Cryptocurrency in the top ten decrease in the range of 1% -3%. So the Bitcoin exchange rate Cash fell by 2.69% and is at level 728$ capitalization 12 539 billion.
The Ripple rate fell to 2.56% and reached 0.45$ at market capitalization 17 883 billion. Ethereum was down 0.71% and made 450$ in market capitalization 45 271 billion.
20:25 GMT., major exchanges show the following values of the rate BTC/USD:
Bitstamp – $ 6 320 (-1.02%)
Bitfinex – $ 6 316 (-0.8%)
Coinbase – $ 6 315 (-0.95%)
The market capitalization of Bitcoin at the moment is $108 324 billion Total capitalization of the stock market 220 478 billion.
Bitcoin exchange rate began the third quarter without ideas
The period of financial stagnation in the cryptocurrency market continues, and with it the outflow of the most active buyers of bitcoins.
However, many experts expect with optimism the beginning of autumn and the growth rate of the most popular cryptocurrency to new heights.
It is likely that by the beginning of the financial activity, the regulators finally bring cryptocurrency trading to a single standard that will allow large institutional investors to enter the market of cryptocurrencies. This in turn will have a positive impact on the exchange rate of bitcoin and popular tokens from the top ten.
Many market players are tired of the fall of the cryptocurrency in the period of return to trading can resume aggressive buying, which will push the price of Bitcoin higher.
Technically, experts say December’s rise could happen again with even greater force, because of bitcoin, nothing is impossible, because of its high volatility during the peak hype.
Mark 6 000 $ same ordinary for cryptocurrencies, like 25 000$, the only difference is how fast we can get to new highs.
However, there are those for whom the time at which the rate of bitcoin will reach new heights doesn’t matter, as the most popular digital asset does not cease to exist, and it is believed to be optimistic, important.
For pessimists, the current situation on the market is significant and they expect a further drop coins below, in the district 5 $ 500 and then to 5,000, which is called optimal and balanced price for bitcoin.
As the reasons given are the cost of producing the coin and its market price, which may not be too high, but to fall below $ 5,000 it would be difficult, due to the mining farms and a limited number of bitcoins left to mine.
Bitcoin exchange rate today
The price of the coin crossed the moving average and trying to gain a foothold above it, which is a good signal for those who believe that bitcoin has reached a “bottom”.
The Ichimoku indicator also gives signals to the slowing down of active sales and slow the indicator line changed slope down to neutral.
The rate of bitcoin will continue to increase, rebounding from the moving average, which today serves as the local support.
In this case the first target for buyers will be around 6 to 800 dollars, where the intermediate resistance is still the same slow line.
The last time this level was tested a bitcoin in mid-June and was strong enough for a breakout. If the repeated test will allow buyers to move higher, the next level, which will be fought will be $ 7,500.
Technically, bitcoin exchange rate to this level will cancel the downtrend and confirm the next wave of growth.
The negative scenario
Again Bitcoin will fall below the important psychological level of $ 6,000. In this case the first target as we already wrote above, the $ 5 $ 500, which in our opinion, the most appropriate for formation of a base and subsequent global growth.
Now the quotes are still narrow band, and to say exactly where the market will move can only be made after a day or two. However, it is already possible to speak about decrease in bearish activity in the market and possible preparation prices to increase .
Market analyst cryptocurrency
Stock Markets Group™