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

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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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