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Tuesday, 4 August 20:57 (GMT -05:00)



Foreign exchange market

Bitcoin is only half-way down. Ethereum is stable.


The current state of affairs in the global cryptocurrency market leaves much to be desired. This is confirmed by a number of people who usually promote cryptocurrencies. John McAffee is clearly not one of them. He has always been very positive on the prospect of digital currencies. In particular, he believes that the BTC/USD exchange rate may eventually reach as much as 10 million dollars per coin. 
 
Still, the current picture is not that positive. Bitcoin and other major cryptocurrencies are weakening. Those kind of statements were supposed to push the Bitcoin price higher, which is not the case right now. Those who made those statements counted on others joining in, but that's not happening.
 

Downtrend accelerates

 

The stales started on September 23 have now seem to slow down a bit. However, there was no strong upward move, just some kind of a consolidation, which means that there are now new buyers at at a discount. The market volume is relatively low but increasing when the pricer starts moving down. This means that the downward potential is substantial. Maybe 6000 dollars per coin, or even 4500 dollars per coin. At the same time, it should be noted that the market peaked in 2017. If the same long-term cycle retains, we can witness another all-time high above 20000 dollars per coin in 2020. Still, this is a less probable scenario at this point.
 
График биткоина
 
 
Ethereum is stable
 
Ethereum is relatively stable. Despite a considerable discount, the price has exceeded 160 dollars per coin. At this point, the market is testing another level of resistance. If the price makes it to 1800 dollars per coin, ETH/USD will get a chance for an even bigger gain.
 

График эфириума

 

 

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