Coinbase expanded its geography

April 19, 2019   Bitcoin

The main cryptocurrencies on Friday mostly continue to go up after the USA Securities Commission (SEC) received an application to register a fund whose shares will be issued on the Ethereum blockchain. At the same time, stocks will have collateral from the US Treasury. Thus, in essence, this will be a stableblock secured by the American dollar.

Another positive news for the cryptocurrency market was the message that the Coinbase digital trading platform expanded the geography of its presence in Latin America and in the countries of Southeast Asia. On this news background, according to Libertex, at 10.30 a bitcoin rate rose by 0.1% per day to $ 5238 with a capitalization of $ 92.9 billion. Ethereum by this time has risen in price by 0.64% - to 172.4 dollars with a capitalization of 18.3 billion dollars. XRP for the day lost in the price of 2.43% and dropped to around $ 0.329 with a capitalization of $ 13.9 billion. Litecoin rose by 1.11% to $ 81.3, its capitalization was $ 5 billion.

In addition, there was a year left until the much anticipated halving (decline in reward) of Bitcoin. In this regard, many analysts expect that the price of the reference cryptocurrency will rise until May 2020. Analysts had previously expressed the opinion that the BTC price would rise 3-12 months before this event.

CoinMetrics price charts refer to halvings of 2012 and 2016, confirming the existence of such a trend. Less than a year after the first halving, when block 210.001 was mined, the price of bitcoin for the first time exceeded $ 1,000. Further, after the halving in July 2016, the coin was trading above $ 600, while within 18 months the first cryptocurrency reached its peak in December 2017, when the coin touched $ 19,700.

Now the price of BTC is above $ 5,000 for the first time in the last 4 months, and preliminary growth before the halving is quite likely. In addition, CoinMetrics concluded that Bitcoin will show the third maximum above $ 20,000 by the end of 2021, 18 months after the halving in May 2020.

The total capitalization of the crypto market has reached $ 178.8 billion. According to financial scouts, in the short term, the cryptocurrency market has some chances for continued growth. In this case, Bitcoin can go up to $ 5250, Ethereum - up to $ 173, XRP - up to $ 0.33, and Litecoin - up to $ 82.

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