Stock Markets Group – The course of bitcoin on March 17 fell below 8,000, breaking important support, despite yesterday’s little optimism. Investors did not have enough time before the weekend, in order to stay in the market on the weekend. As a result, Bitcoin confirmed our forecast and turned red in the first half of the day.
The black bar for courses of crypto currency continues. New scandals with the theft of digital assets, dishonest ICO and new bans by authorities of different countries, all this was present last week, and did not allow the bitcoin price to recover from the last collapse.
At 00:20 Moscow time, the main trading floors show such values of the BTC / USD exchange rate:
Bitstamp – $ 7,810 (-5.50%)
Bitfinex – $ 7 790 (-8.8%)
Coinbase – $ 7,836 (-4.8%)
The market capitalization of bitcoin at the current moment is $ 135 231 billion.
The bitcoin course needs “fresh” money and loyalty
The financial director of Visa Vasant Prahbou during an interview with the Financial Times once again doubted the expediency of the existence of bitcoins and crypto-currencies. According to him, this is the tool that fraudsters and corrupt officials use today.
He noted that he is shocked by the fact that those who call for buying or selling bitcoin do not understand anything about this. The unknown origin of this crypto currency is the main problem in legalization, while traditional money is controlled by regulators who are responsible for their issuance.
“Money obtained dishonestly is difficult to use in the banking system. In this case, the crypto currency is a phenomenal tool, and I am sure that every corrupt official or swindler will use it”
“I’m frightened when people ask about bitkoin, who do not understand anything about it, for example, a limousine driver going to the airport or a cashier at a bank”
“If the shoe cleaner tells you about what stocks to buy it means that we are dealing with a conventional bubble,” he recalled the classic stock exchange axiom.
Vasant Prakhu, is one of the ardent critics of bitcoin, and has repeatedly expressed support for financial officials who propose to prohibit crypto-currencies.
The current situation with the most popular crypto currency is really more and more connected with criminalization. The losses of investors very often exceed hundreds of millions of dollars, and of course this negatively affects the future course of bitcoin .
In addition, last week confirmed fears that large business is trying to stay away from crypto-currency due to their vulnerability to criminal schemes.
Google has put an end to this issue, and apparently this is not the last decision, regarding bitcoin among the world’s advertising leaders.
The course of bitcoin today
The Crypto-currency broke through an important psychological level of $ 8,000 and rushed lower. Buyers recorded profits before the G-20 meeting, which will begin on Monday.
On it the topic of bitcoin and digital assets are expected by experts, officials pay special attention. It is not yet known what decisions will be made and whether they will support the market. Therefore, most of the players preferred to stay out of the market on weekends, thus weakening the position of Bitcoin.
We expect the next growth of the crypto currency only after the price has fallen to the area of $ 6,000. Prior to this, the bitcoin rate will remain under strong pressure even without new causes. The future of the market is more and more vague, and this is perhaps the main reason for investor caution today.
The bitcoine rate will continue to fall lower and the first target for the price is the $ 6,000 mark. Then the crypto currency will try to gain a foothold at this level, but a re-test of it can lead to a decrease even lower.As we wrote earlier, this will be an area of $ 5,500.
Next week, according to our forecasts, the players’ balance of power will be shifted to sales, so in the coming days it’s better to stay out of the market.
The courses of the majority of kriptovalyut also surrendered to the onslaught of sellers and fall. Ripple lost 8.95% in 24 hours, and Ethereum dropped 8.27%. In the coming hours, the stabilization of the value of digital assets is unlikely.