This week, the cryptocurrency market have been revived. Today there is an intensive growth rate of all digital assets. The leader of bitcoin, it increased by almost 11%. The market capitalization of the top cryptocurrency has increased by $12.5 billion. Why is the bitcoin? There are several reasons.
Why increased bitcoin?
The first news that intensified bullish movement in the market it is the intention of the Fund BlackRock to enter the cryptocurrency market. Foundation specialists are already studying blockchain technology and features of digital assets. Given that the assets of the BlackRock trillions of dollars to market can significantly change the situation. Also this week, the hedge Fund of cryptocurrency and blockchain Autonomus Partners invested in the company by billionaire Steven Cohen.
Further news about the program change financial CFA Institute. In 2019, the leadership of the CFA intends to add to the curriculum “cryptocurrency” and “blockchain”.
On the growth of other cryptocurrencies affected by the news that the exchange is CoinBase adds 5 new assets. Among them Cardano (ADA) and Stellar (XLM) is the day they grew by 18 and 24% , respectively.
Forecasts of the exchange rate of bitcoin
The day the cryptocurrency was able to reverse the bearish trend and finally get out of the area at risk. Twice a month bitcoin tested the level of $6730 and finally broke it. Early in the morning the price of the asset increased to $600 and continues to rise. Daily trading volume grew to $6 billion.
The currency pair BTC / USD got support at $7200, serious resistance is at the level of $7550. Its breakout will open the way cryptocurrency to $8000 and above. Indicators point to the beginning of a new uptrend. A slight pullback after intensive growth, and the resurgence of bullish movement.
Previously on this topic in the news:
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.
01.06.2018: 4 myths about bitcoin, in which I believe even professors of Economics
Well-known British economist and honorary Professor at the University of Warwick Robert Skidelsky last week published an article urging people not to try to reinvent the wheel coin with bitcoin. However, cryptoanalysis not enthusiastic about reading material and say that Skidelsky stuck in the 20th century and believes in myths about bitcoin.
TOP 4 myths about bitcoin:
Cryptocurrency is a revolutionary idea, which is good because people can choose what to invest in. History shows that all the time, there was a power (government, Church, banks) that maintain a monopoly on currency. Now people have a choice between banks and decentralized monetary networkthat is not controlled by anyone.
24.05.2018: Tom Lee: “3 reasons bitcoin will rise to $25 000”
Tom Lee Lindstroma prediction on which bitcoin rally after the conference, the Consensus did not materialize, continues to insist that by the end of the year the value of cryptocurrency will rise to $25 000. The forecast analyst with wall street underpins the three factors.
3 reasons supporting the growth of bitcoin:
The current situation on the market analyst and investor explains “typical cryptocurrency volatility” and is confident that bitcoin will beat your record from last year.