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Price predictions

Bitcoin reached the level of 3945 dollars

06 Mar 2019   #Bitcoin

Cryptocurrency assets rose on Tuesday’s trading session. Bitcoin reached the level of 3945 dollars, Ethereum rose to the level of 140, and the XRP cryptocurrency finished trading around the level of 0.3225 dollars.

As often happens recently, the intraday growth of cryptocurrency was not associated with the emergence of fundamentally important news. Cryptocurrency markets are still considered emerging, so high volatility often cannot be explained by traditional factors. On Tuesday, the price of Bitcoin set a new high in March at $ 3,970 and is now trading at the opening level of 2019.

Dash Core Group, which developed the Dash cryptocurrency, which ranks 15th in total capitalization, reported serious financial problems and a reduction in the number of employees. At the end of last year, the head of the project stated that the company has sufficient reserves to continue working without changes. Since the end of February, the price of Dash has lost almost 10% and is now trading at $ 82.

The State Duma of Russia adopted yesterday in the second reading amendments to the civil code of digital rights. The draft law “On digital rights” speaks of the basic concepts of the cryptocurrency market and provides legal conditions for concluding transactions based on smart contracts. Such a bill cannot be called a full-fledged regulation, it is only an initial, but important step on the road to official recognition of cryptocurrency.

In our forecast for today, we assume further Bitcoin growth to resistance levels of 3950, 3970 and 4000 dollars, strengthening of Ethereum to marks 142, 145, 150, and continued growth of the XRP price to levels of 0.3250, 0.3280 and 0.3300 dollars.

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