Bitcoin exchange rate jumped to 7,800. Market analysis for October 16


Bitria “news” bitcoin exchange Rate jumped to 7,800. Market analysis for October 16

The last day of the cryptocurrency market capitalization increased by more than $10 billion, and the exchange rate of bitcoin grew by 9% in a few hours. The rest of the cryptocurrency market also captures the value increment in the range of 3-5%.

BTC/USD closed yesterday at a modest 2% increase in the action of the formation of the pennant after a recent fall. However, the pair began to gain momentum during the early Asian trading session and jumped to $7,800 from the previous minimum of about $6,300.

At the same time, a pair USDT/USD fell below $0.95 in early Asian session. In the end, it has formed lower lows to $0.85, before you settle above $0.90. It is obvious that traders sell a huge number of USDT to buy cryptocurrencies like Bitcoin and Ethereum, and investing in other stablecoins for example, TUSD, Gemini Dollar (GUSD) and PAX.

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