This morning the exchange rate of Bitcoin for the first few months crossed the mark of 8000 dollars. According to Russian experts, the retention rates is a key factor for subsequent growth. Analyst opinions published RIA Novosti.
Why is Bitcoin
According to Coinmarketcap, over the past 24 hours, the cryptocurrency rose by about 6 percent. Bitcoin now trading at 8191 dollar with a daily volume of 6.83 billion dollars. The total capitalization of the stock market has almost reached 300 billion, 47 percent of which belongs to Bitcoin.
Russian analysts attribute the increase in positive statements from well-known financiers. President of the Russian Association of cryptocurrency and blockchain (RAKIB) Yuri Pripachkin mentions a meeting of Central Bank governors of the G-20 in Buenos Aires.
The main outcome of the discussions with representatives of the G-20 became the agreements on non-interference in the technology for the production of cryptocurrency. The G-20 countries also recognized that scriptactive no risk to financial stability. None of the countries has no plans to ban them.
Recently the SEC allowed the largest American a crypto currency exchange to trade security tokens. Meanwhile, the largest Fund BlackRock creates a working group to search for variants of entrance to the stock market. The situation was commented by the senior analyst “Alpari” the novel Tkachuk.
The news contribute to the return of interest in Bitcoin. Note that the macroeconomic events of the world trade war, the unpredictability of Donald trump — also contribute to the growth of demand for non-classical assets.
Another positive sign is the increase in trading volumes on Bitcoin. Investment Director Cryptolife.World Mansur Guseynov indicates increased activity among traders of futures in the crypt.
I believe this may be due to the rise of institutional investors and the gradual return of private investors. First, on the Chicago Mercantile exchange CME recorded the growth of futures trading on Bitcoin at 93 percent in the second quarter of 2018 compared to the first, the amount of open positions also increased by 58 percent. Trading on the Chicago Board options exchange CBOE also increased.
While cryptocommunist waiting for the next key date is August 10, the SEC must decide the fate of the exchange CryptoRandom (ETF). Chief analyst Tokenbox Igor Doganov predicts a positive decision of the regulator.
A large number of investors expects a positive decision, and apparently to this date, although the deadline for the decision is September 24.
After overcoming several levels of resistance in the Bitcoin emerges a new goal. CEO Blockchain.ru Group Dmitri Matsuk said that if the coin will be able to hold above eight thousand, it will quickly soar to ten thousand dollars.
It is possible that the market finally reached bottom and started a new round of growth, although to talk about some fundamental factors are no prerequisites that may mean a temporary increase.
Professor, chair of financial management of REU named after G. V. Plekhanov Constantine Ordov agree with the opinion of colleagues. Ordov sure if the price will stay above $ 7,500, Bitcoin has good prospects for further growth. Almost the same was said by the Director Zichain Sergey Kovtunenko.
Bitcoin is testing important resistance at the level of 8 thousand dollars. When a steady passing this level next target — care in a range of 9.4-9.6 thousand dollars.
Large trading volumes indicate increased investor interest in the asset. Rather, now is the time to buy crypto-currency to big profits in the long run. The moon is not far off.
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