Analytics / Forex and Crypto News
The largest digital currency could not keep above the psychological mark of $10,000 and began to decline.
On Tuesday, July 23, the coin dropped to $9965, it's market capitalization is just over $177.717 billion.
The main altcoins also get losses. At the time of publication, Ethereum and XRP are traded at $21 and $0.3033, having lost more than 5% in the last few hours. The capitalization of the cryptocurrency market fell to $273.440 billion.
Bitcoin traded at the level below $10,000 on July 18. Then, many analysts connected the weakening of the coin with the negative reaction of the American president to the spread of digital currency, primarily to the Libra token and Bitcoin.
This morning the trader “Big Cheds” announced a sharp decline in the value of BTC. In his opinion, the bears will control the market throughout the current trading session.
However, they will not be able to dominate the market for a long time, and very soon we will see new growth of Bitcoin.
A similar point of view is shared by another analyst, Jacob Canfield. He is confident that today's decline below $10,000 will be temporary, as the bulls have moved to a wait-and-see tactic.
According to the forecast of this specialist, BTC will keep at the level of $9,800-10,200, after that the purchases will be resumed, and the coin will again overcome the $11,000 mark.
The transition of investors to a waiting position may be associated with the upcoming meeting of the US Federal Reserve. It will be held at the end of July, most likely, the regulator will lower the discount rate, which will weaken the attractiveness of the dollar.
In this situation, the position of those analysts who are investing in gold and alternative assets, in particular, Bitcoin, will increase.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov