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Price predictions

Cryptomarket stabilizes after the Bitfinex negative

29 Apr 2019   #Litecoin

The main cryptocurrencies stabilized after a fairly sharp fall, associated with the withdrawal of funds from the digital trading platform Bitfinex, which the prosecutor's office of New York earlier accused of fraud. So, according to the authorities, the exchange has withdrawn $ 850 million in cryptocurrency, trying to hide the attraction of the fiat funds stablecoin Tether. The state's chief attorney claims that Bitfinex used at least $ 700 million from Tether's reserves to cover losses of $ 850 million from customer and company funds. His arguments were set forth in documents that were sent to the Supreme Court of Manhattan. In total, the market lost about $ 10 billion in capitalization at night from Thursday to Friday at these events.

Tether is one of the most visible steakblocks on the market. As planned, the token must be provided 1: 1 with the dollar in order to remain stable. Typically, a token is used as a replacement for Fiat during cryptocurrency transactions. However, it was also not without questions. There were questions about the real availability of dollar reserves, which would cover the binding to the dollar volume in the accounts, and also the question of bitcoin exchange rates in 2017 was a serious one.

Also unpleasant for the market was the news that India may impose a complete ban on cryptocurrencies. Now the government is discussing the relevant bill.

At the same time, the market has already largely played this negative and by 9.00, according to Libertex, over the course of the day Bitcoin rose by 0.05% to $ 5,175, with a capitalization of $ 93.7 billion. Ethereum by this time added 0.13% and rose to 154.1 dollars with a capitalization of 16.7 billion dollars. Now there is a good opportunity to make money on cryptocurrency courses, as the Forex Club trader did, who was able to get more than $ 1,800 in this market in a day.

XRP per day rose in price by 0.23% - up to 0.2985 dollars, its capitalization amounted to 12.5 billion dollars. Positive news for this cryptocurrency was the message that. that Ripple reported a 31% increase in XRP sales in Q1. Such a sharp increase was due to the attraction of new investors. Litecoin rate dropped by 2.16% in a day to 68.1 dollars, its capitalization reached the level of 4.3 billion dollars.

The total capitalization of the crypto market was $ 171.6 billion. According to financial crypto analysts, in the near future, digital currencies have chances for further stabilization. So, Bitcoin can grow to $ 5,200, Ethereum - to $ 155, Litecoin - go to growth and rise to $ 69, and XRP - to $ 0.3.

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