Cryptomarket crawls down as part of correction

April 12, 2019

The cryptocurrency market was adjusted on Thursday after rising in the first half of the week. The price of Bitcoin fell to the support of 5050 dollars, Ethereum fell to a level of 165 dollars, and XRP reached the level of 0.3300. The total market capitalization fell to 171 billion dollars.

Bitcoin reached a new annual maximum of $ 5,400, but failed to gain a foothold at this level and lost 4.5% in price. A strong level of resistance for Bitcoin is at the level of $ 5,300 and perhaps the main cryptocurrency will take several attempts to overcome this mark.

The main cryptocurrencies on Friday continue to gradually slide down as part of the correction that has seized the market. Bitcoin rate, according to Libertex, at 10.00 per day decreased in price by 0.83% - up to 5074 dollars with a capitalization of 89 billion dollars. Ethereum by this time weakened by 0.67% - to 164 dollars, its capitalization amounted to 17.4 billion dollars. XRP for the day fell in price by 2.74% - to $ 0.319 with a capitalization of $ 13.6 billion. Litecoin weakened by 0.51% to $ 77.9, its capitalization reached $ 4.8 billion.

The total capitalization of the crypto market was $ 170.7 billion. At the same time, the positive news that users from the UK will now be able to pay cryptocurrency from the Visa card did not affect investor sentiment. Customers of the Coinbase Exchange will get this opportunity; they will be able to use cryptocurrency in stores and withdraw cash from ATMs with a 2.5% commission.

According to financial experts, in the near future kryptoryok will continue to gradually slide down. So, Bitcoin can fall in price to $ 5,000, Ethereum - up to $ 162, XRP - up to $ 0.3, and Litecoin - up to $ 76. And in our forecast for Friday, we expect Bitcoin to decline further to the levels of 5030, 5000 and 4950 dollars, Ethereum to the levels of 162, 160 and 157 dollars and XRP to the levels of 0.3275, 0.3250 and 0.3200.

The company EtherZero, which developed a fork of Ethereum with zero commissions, announced the launch of its blockchain and ETZ token. The first EtherZero network was launched in August 2018. The transaction processing rate is 1,400 transactions per second, compared with 15 transactions per second for Ethereum. According to the developers, the MPoS protocol, which is characterized as a network of masternod, protects the system from most attacks. EtherZero is compatible with all Solidity smart contracts, that is, any contract designed for Ethereum can be deployed with the EtherZero blockchain. EtherZero already has a browser, desktop and mobile wallets, a cryptocurrency exchange, a steellcoin and various applications. The main advantage of the network is the complete absence of transaction fees.

Cryptocurrency Exchange Coinbase announced the release of Visa debit cards with the possibility of paying cryptocurrencies directly from its trading account. The conversion process will occur automatically at the moment when the user completes the transaction. Coinbase Card will support all cryptocurrencies that are traded on the exchange, and will be available to users from Europe and the UK.

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