Crypto News

How Bitcoin will behave in the near future

Made the recognition of the head of the fed Jerome Powell to the Committee on financial services U.S. house of representatives that cryptocurrencies can quickly become a systemic risk for the US dollar not only affected the price of Bitcoin and alithinou, but also reinforced the optimistic mood of many market analysts.

The panelists on CNBC in a post-market show, “Fast money” which not only gives objective news on the stock market, but often creates the mood of its participants formed six factors support bullish momentum in Bitcoin. These factors include:

  • similarities between gold and Bitcoin

  • the potential of institutional money willing to enter the market

  • the interest of Central banks to explore the framework of the blockchain and the digital currencies

  • withdrawal from the market of weak players

  • the transformation of BTC into a safe haven for value, triggered by the outbreak of coronavirus

  • Central Bank policy, pushing the demand for Bitcoin.

However, Bitcoin has once again demonstrated its unpredictability. The pulse BTC, aimed at the 11 000 dollars, today broke the key resistance of $ 10,500, finding the exhaustion of buyers. CoinMarketCap fixed the maximum of the current year at 10 457 dollars.

The dominance of Bitcoin in the market continued to fluctuate amid rising, and according to CoinMarketCap was 61 per cent. This suggests that the demand for oldoini in a booming market has improved, and Ripple, Ethereum, LINK, and Bitcoin Cash Bitcoin gradually take away market share.

Source:

cryptofound.com

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