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Alexander Kuptsikevich

FxPro Forex Analysis: Bitcoin increases dominance, but cannot grow in price

Cryptomarket starts the week in the red zone: Bitcoin (BTC) has lost 3% for the last 24 hours and is trading around $6.300, the second largest cryptocurrency Ethereum (ETH) had fallen by almost 10% and once again has turned back below $200, other top 10 coins now are also in the red zone, losing from 2% to 10%. The price dynamics is also accompanied by an increase in the dominance of the Bitcoin (BTC) above 56%, which indicates that investors withdraw their assets from the altcoins towards the ...

Alexander Kuptsikevich

FxPro Forex Analysis: Cryptomarket was bought on dips, but there is still lack of reasons for growth

The total capitalization fell to $186 bln at one point on September 12; an especially strong decline was in the Ethereum (ETH). The second largest cryptocurrency fell to $170, the lows since July 2017. However, this drawdown attracted the interest of buyers. Soon the ETH reversed upward and the whole market in general began gradually to level up, its capitalization recovered to the levels above $200 billion. The benchmark cryptocurrency Bitcoin (BTC) added about 2.5% over the last 24 hours and ...

Alexander Kuptsikevich

FxPro Forex Analysis: Bitcoin discarded in dangerous proximity to the critical support level

The total cryptomarket capitalization is once again below $200 bln threshold as of Tuesday morning, and at the time of writing is about $196 bln. A new market drawdown was provoked by the news that the U.S. Securities and Exchange Commission (SEC) had suspended trading notes (ETN) on BTC until September 20th, citing that investors can confuse ETN and ETF. Although the Bitcoin (BTC) managed to regain its position, the overall market is showing confusion: the top 10 cryptocurrencies are stuck ...

The FxPro Analyst Team

FxPro Forex Analysis: The crypto bulls did not allow the Bitcoin to fall to $6K

The crypto bulls defended the Bitcoin (BTC) after a sharp decline almost by $1000 within past 24 hours, preventing it from a dropdown lower than $6K. The rest of the crypto market followed the Bitcoin and demonstrated a bigger decline, which led the market cap of TOP 100 leading currencies to a shrinking to $40 bln. On Friday morning, the BTC adds about a percent and trades above $ 6,500, altcoins are also moderately in the green zone. The Bitcoin (BTC) began to fall after Goldman Sachs had ...

Alexander Kuptsikevich

FxPro Forex Analysis: Bitcoin growth for a 3rd week faces important resistance

Since August 31, the Bitcoin (BTC) has added 5% to $7,300, showing its ability to continue the growth after the breaks. The summer lull period is coming to an end and this autumn can bring an increase in trade volumes if significant news triggers appear. Since the beginning of 2018 the Bitcoin tendency to decrease price peaks has disappointed the market. The Wall Street sharks have prepared the crypto expansion, but nobody has made their position yet. The large capital is obviously interested ...

Alexander Kuptsikevich

FxPro Forex Analysis: The main trends of this summer on the crypto market

Currently, the Bitcoin (BTC) has demonstrated almost flat dynamics about 1% in the recent 24 hours after a correction from $7000 to $ 6835. The Bitcoin has been trading in the wide corridor since the beginning of February, and it seems that the BTC price of $7,000 is the limit of optimism now. We could emphasize this summer trends summarizing a few moments: First, the lack of ideas that prevented any rally from developing into a long-term market recovery. Then, the growth of a network ...

Alexander Kuptsikevich

FxPro Forex Analysis: The Third World countries can shake up the cryptocurrency world

The cryptomarket has started Tuesday in a green zone: Bitcoin has added 4.5% coming closer to $7,050. Altcoins shows the similar dynamics: TOP-10 cryptocurrencies added from 4% (ETH) to 20% (IOTA). The total cryptomarket cap has increased by more than 12% to $228 bln within a week. It could be considered as an evidence that a timid demand appears on the market after a long period of stagnation. A sharp rate increase showed the DASH coin adding 26% in the latest 24 hours due to the new ...

Alexander Kuptsikevich

FxPro Forex Analysis: Scissors for crypto miners: growing complexity with falling prices

The miracle did not happen again: the US SEC rejected 9 applications for Bitcoin ETF, and the market went down. SEC is to expand the final deadline of the Bitcoin ETF until February 2019, which will stretch again the uncertainty period for cryptomarket. However, the main cryptocurrency and the total market cap recovered to the previous values quickly. On the background of current uncertainty, the Bitcoin strengthens its dominance among competitors. Its share in capitalization of the whole ...

Alexander Kuptsikevich

FxPro Forex Analysis: Crypto market lull can turn into significant movement

This week the crypto market starts generally flat. Since the 8 of August bitcoin was stuck on the $6,400 mark. The market cap fluctuates in the range of $210 to $230 billion during the last two weeks. The major altcoins are at their lows and they can’t attract buyers due to the crisis of confidence in the industry. Because of the downward move and the lack of positive news around cryptocurrency Bitcoin seems to be affected in a negative way. Potentially the market lull can form the basis for a ...