Traders who had expected new growth of cryptocurrencies, were disappointed. The market has turned around and is preparing for a bearish trend. A new barrage of criticism fell on the digital assets from the Bank employees.
Elizabeth Warren, U.S. Senator and potential presidential candidate in 2020, spoke negatively about bitcoin: “Bitcoin is easy to steal. Crypto-currencies had a negative impact on smaller investors, because many of the ICO turned out to be a fraud.”
Skeptical about the future of cryptocurrencies and other senators, although many believe that the blockchain technology is very promising.
Analysis of the rate of the TOP-5 of cryptocurrency
Bitcoin. The prospect is not rosy, experts forecast that after a minor pullback that has already started, the course will go back for a correction. The reduction caused by the data about falling of interest to the industry as a whole 90%. In many countries, the rise of electricity prices for mining-farms. Bitcoin is already being manipulated, and the more power there will be big players – the easier it is to deny currency decentralization. This weekURS BTC fell 4.5 percent, pulling down other assets. The fundamental support of the asset is at $6000. Market capitalization is $108 billion.
Ethereum. There is a clear bearish trend. For a week the value of an asset has decreased by almost 12%. The immediate support is at $195. Change of trend in favor of the uptrend is possible only in case if the price of an asset will rise to $230 and above. Capitalization dropped to $20 billion.
Ripple. And again, this cryptocurrency in the ranking of the losers of the week. For seven days the rate of XRP fell by 16.2%. Now there is a slight rollback. However, large investors are set up favorably to Ripple. According to the company’s Grayscale Investments, the number of investors who bought XRP in this quarter, has increased by 5%. Ripple’s market capitalization is $17 billion.
Bitcoin Cash. But the number of people willing to invest in BCH significantly reduced. Investors prefer his “older brother” of BTC. For a week the value of the asset decreased by 13.5%. Market capitalization is $7 billion.
EOS. Cryptocurrency falls in company with others. For a week the rate has decreased by 9%. Significantly decreased trading volumes on currency pairs with EOS. Market capitalization is $4.7 billion.
Previously on this topic in the news:
06.08.2018: Why you do not need to wait for new records bitcoin in 2018? 5 reasons
2018 – not the best for bitcoin. Sluggish market demand and fluctuations in investors led to decrease of the asset price. Captainvalor Tuur Demeester sure that in 2018 there is nothing to wait for new records cryptocurrency.
Some investors and advisers, including Lee, believe that $5700 is the bottom of bitcoin, and now the asset is simply obliged to grow rapidly! Economist Turr Demeester hold opposite positions; for instance, there a clear side and a downward trend, and reversal is not expected.
The analyst said that the rapid rally, when bitcoin rose to $20 000 actually started in August of 2015 (when the asset was worth less than $200). The market needs time to review such a record.
Demeester called 5 reasons for limited growth of bitcoin:
26.06.2018: Why fall cryptocurrency? – 5 reasons
Last year the digital asset has grown by leaps and bounds. During the year the capitalization of the cryptocurrency rose from $17.7 billion to $613 billion, a growth of 3300%! In 2018, the virtual currency fell to a minimum, and there are 5 reasons.
5 reasons for the fall of cryptocurrency:
13.06.2018: 3 reasons for the recovery of bitcoin prices
Hacking crypto currency exchange and pressure from the financial institutions has negatively affected the course of bitcoin. However, experts believe that bitcoin will recover, and there are 3 reasons.
The TOP 3 factors that will contribute to the recovery of prices:
The cryptocurrency, which is more than 300 times predicted the collapse and death, a very interesting future. Experts believe that the history of bitcoin is not yet completed, and should expect new highs.