Bitcoin to decline further to $3830

March 12, 2019   Bitcoin

The main cryptocurrency assets declined slightly during the trading session on Monday. The price of Bitcoin fell to the mark of 3905 dollars, Ethereum fell to the support of 134 dollars, and the price of XRP reached the level of 0.3110.

Yesterday took place hardfork anonymity-oriented cryptocurrency Monero. The update was designed to protect the network from ASIC miners, using a vulnerability it was possible to prominently increase the block in a short time and disable the network. Also, developers have added a set of data that will increase the similarity of transactions and make them more anonymous.

In the US, a position of agent for managing confiscated cryptocurrencies may emerge to deal with the management and sale of confiscated or seized digital assets. As the agency hopes, this will give it the opportunity to improve existing practices for storing such cryptocurrencies. A document has already been published that describes the full range of services for the management and sale of seized cryptocurrency, including general procedures and the responsibility of the contractor. The contract also describes other tasks, including financial statements, work with clients, supervisory audit, management of blockchain forks and the creation of wallets.

Swiss Exchange, the largest stock exchange in the country, is is getting ready to start one more product connected to the XRP token rate. A product linked to XRP under the ticker AXRP is expected to be hosted by the Swiss company Amun AG. The company also has got permission to launch four more digital currency ETPs - based on Bitcoin Cash, Litecoin, Stellar Lumens and EOS. The time of their launch has not yet been decided and is going to depend on the demand from customers, but most likely it will happen before the end of 2019. Most recently, the Swiss Exchange announced the start of trading on Ethereum-based ETP. The exchange also intends to use the Corda blockchain platform to create a regulated SIX Digital Exchange platform for trading crypto assets and custodial services.

In our forecast for Tuesday, we expect Bitcoin to decline further to support levels of 3900, 3870 and 3830 dollars. Ethereum may decline to $ 132, 130 and $ 127, and XRP - to levels of 0.3100, 0.3075 and 0.3050.


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