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Swarm Intelligence Set

Cryptomarket smoothly slides down


25 Mar 2019   #Bitcoin

Bitcoin did not receive growth momentum after overcoming the $ 4,000 round mark last week. As a rule, if after such a bold act there does not come a period of strong uptrend, all this reinforces the skepticism of the market. Part of the bull speculators goes out of purchases in the first turn, if the asset does not receive growth momentum.

The main cryptocurrencies fall slightly in price, moving within the overall market trend to a decline. On Friday, the trading volumes of the first cryptocurrency and stablebcoin USDT updated local maximum, reaching $ 11 billion and $ 10 billion, respectively. Investors also reacted negatively to the message that Amazon's Twitch service removed cryptocurrency as subscription payment options. There were also unpleasant news from the SEC. As part of the public comment, the application for Bitcoin-ETF from VanEck and SolidX received a total of 7 letters, 6 of which were with recommendations to reject the application.

Against the background of this news, the Bitcoin rate, according to Libertex, at 10.30 fell by 0.95% per day - up to $ 3,966 with a capitalization of $ 70.9 billion. Ethereum by this time weakened by 0.67% to $ 135.2, its capitalization reached $ 14.5 billion. XRP fell in price by 0.98% - to $ 0.305, its capitalization amounted to 12.8 billion dollars. Litecoin decreased by 0.68% - to 59.5 dollars, its capitalization reached the level of 3.7 billion dollars.

The total capitalization of the crypto market was $ 140.1 billion. At the same time, the good news for the investor was the message that a legal cryptocurrency exchange may soon appear in Vietnam.

The media again sounded forecasts for Bitcoin for $ 250K, on the other hand, talking about falling to new historical minimums, or meaninglessness and zero value of the industry as a whole. The truth is somewhere in the middle: the demand for cryptocurrency assets is indeed growing, but not strong enough to show at least half of the highs reached earlier.

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