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Wednesday, 20 March 12:04 (GMT -05:00)



Foreign exchange market

Bitcoin lost 7% in 24 hours


The Bitcoin exchange rate has gone down by 7% over the last 24 hours. In particular, the exchange rate dropped down to 7500USd/BTC. 

Last week, the world's first cryptocurrency managed to break above the $8000 threshold. However, as we can see now, this was a relatively short journey to new local highs. Bitcoin has been relativelyweek since the start of this trading week. According to NordFX, earlier today, 1 Bitcoin cost slightly over $7500 on average. As we have already mentioned, this is a 7% drop over the last 24 hours. The market cap is now down to 130 billion dollars. At this point, Bitcoin makes up for roughly 48% of the global crypto market

As you might have already guessed, many altcoins have been following Bitcoin, includingall of the TOP15 coins in terms of market cap. 

At this point, more and more experts are convinced that last week's Bitcoin rally was of purely speculative nature. However, now it'sclear that the SEC's decision to delay the permission for the world's first Bitcoin ETF as well as the expiration of Bitcoin futures on July 25theventually got the coin back where it currently belongs. 

Some experts don't deny the possibility of Bitcoin going further down to $7000 by the end of this week. However, the most likely near-term scenario is a roller-coaster within the $7400-7900 range. At the same time, the market sentimentis getting bullish.
 



 

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Chinese New Year

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