Thu, 23 Feb 2017 02:25:00 +0000
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Now it seems that the long-term retracement of the USD/BTC exchange rate seen over the first quarter of the year is gradually reversing back for the uptrend.
The cryptocurrency market has been going down steadily for a while. According to CoinMarketCap, the Bitcoin exchange rate has been moving around 6800 USD/BTC. Ethereum, Ripple, Bitcoin Cash and Litecoin have been trading around 382, 0,49, 633, and 119 dollars per coin respectively.
Bloomberg experts claim that the day of reckoning for cryptocurrency funds has finally come. Last year, when the world’s first digital currency (Bitcoin) went sky-high in mid-December and reached another all-time high at 20000 USD/BTC, over 150 funds specializing in cryptocurrencies emerged on the Internet. In 2017, their profits reached 1000%.
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In March, the BTC exchange rate dropped by almost 3000 dollars. Some experts predict a further downtrend in the near future, Market Leader reports.
This week Bitcoin may come close to the psychological level of 10000 USD/BTC and break above it, some international experts say.
How do you treat Bitcoin and other cryptocurrencies? Usually, those who ask you this question expect you to be either pessimistic or optimistic on the future of digital currencies, ICO and blockchain.
A couple of days ago, the top management of Alphabet Inc. announced that Google would ban any ICO and cryptocurrency ad campaigns starting from June 2018. On top of that, they would toughen the requirements for advertising other risky financial products, including binary options.
Interestingly enough, despite having a negative correlation, both the U.S. Dollar and gold started going down in value against other majors earlier today. International experts assume that there are several factors pressing down these assets.
International investors are concerned about Donald Trump’s decision to fire another high-ranking politician from his administration. This time it was Rex Tillerson. He used to serve as the U.S. Secretary of the State, which means he used to be responsible for the United States’ foreign affairs. Later on, Donald trump tweeted that he was going to make Mike Pompeo the next Secretary of the State. For those of you who don’t know, Mike Pompeo used to serve as the Director of the Central Intelligence Agency.