Stock Market Quotes & Financial News

LATEST NEWS, PRICES OF CRYPTOCURRENCIES, MARKET ANALYSIS WITH EMPHASIS ON EXPERT OPINION AND COMMENTS FROM THE COMMUNITY OF INVESTORS AND DIGITAL CURRENCY.

The bitcoin exchange rate continues to decline

Wednesday, August 28, the price of bitcoin (EXANTE: Bitcoin) is falling. 09:30 GMT the first cryptocurrency is trading at $10 170,53 (-0,29%).

The ether (ETH/USD) rose to $186,95 (+0,2%). XRP (XRP/USD) fell by 0.3% to $0,267.

A team of analysts at FxPro said:

“In recent days bitcoin has lost about per cent and is trading close to $10 100. The cryptocurrency market is experiencing a shortage of news, so most now focus on the nearest potentially influential event: the launch of deliverable futures on bitcoin from Bakkt. The start of the project should occur on 23 September, however, the desired jump in prices may not happen.

During the launch of futures from the CME market was the most overheated, any professional investor understood that the hype around bitcoin for $20,000 reached its climax, and then there will be a sale. However, now we have a different situation. On the one hand, bitcoin has shown impressive growth since April, 2019, with another — the trend of parabolic increase broke, and yet there are no signs of the desire to buy bitcoin at current prices. For some, $10 000 — too high price to buy, for others — too low for sale. So we see a long side trend, as both sides are waiting for catalysts. Market participants in this segment of price dynamics is about equally divided into bulls and bears, although, ultimately, the growth of the asset would like to see everything.”

Earlier, the head of cryptocurrency exchanges Binance of Chanpen Zhao announced that futures products or service will be launched in September this year. Limit the size of leverage up to x20, but in the future, it is supposed to be increased.

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