Yesterday the price of Bitcoin fell below $ 8,000. Coin dropped four percent and was worth $ 7895. Some experts attribute the fall to negative news about the ETF on Bitcoin, reports RIA Novosti.
The Problems Of Bitcoin
The reduction in the price of the home cryptocurrency has hit Aldona. Among the ten largest coin by market capitalization had the worst Cardano — the cryptocurrency has lost almost 8 percent of its value in one day. The total capitalization of the stock market fell to $ 288 billion. The index of dominance of Bitcoin — 47 percent.
According to PR-Director of Blockchain Capital Tugush Timothy Fortunatova, recent bullrun still drew public attention to the cryptocurrency.
The results of the first half of this week, of course, was the reason for the increasing optimism of the entire crypto community. Trading volumes are rising, as is the interest in Bitcoin from the observers and representatives of traditional industries.
However, to confirm the global upward trend we need a positive reaction from the altcoins. Yet between them and the Bitcoin remains a big gap. Fortunatov argues that if the other coins will grow in the near future, we can expect Bitcoin rollback to previous support levels.
This indicates the growing interest to the leading cryptocurrency. The fact that the share of Bitcoin in the market is now 47 percent, only confirms the exclusivity of interest. I think it will have a positive influence on the price for some time, but they will not be able to serve as a basis for further growth of the market as a whole.
The expert also noted that the participants of the stock market have become much more sensitive to new events. Now, any negative news may alter the equilibrium and lead to a new drain rates of cryptocurrencies.
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