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Saturday, 16 February 19:37 (GMT -05:00)



Foreign exchange market

Experts Predict Bitcoin Move Above $10K


 

This week Bitcoin may come close to the psychological level of 10000 USD/BTC and break above it, some international experts say.
 
However, according to CoinMarketCap, Bitcoin was going down yesterday. In particular, the world’s first digital currency lost 2,35% of its value during yesterday’s trading session by going down to 8648 USD/BTC. Earlier today, the move continued and the exchange rate dropped down below 8500 USD/BTC and then below 8400 USD/BTC. Now it’s trading close to 8300 USD/BTC.
 
As always, the BTC exchange rate has been seriously affected by the international news background. Last week, during the recent G20 summit, many of the G20 regulators agreed to work out their own rules for regulating the cryptocurrency market within the next few months. It’s interesting to note that the G20 finance ministers and central bank governors refused to give Bitcoin the status of a legal payment means. For now, Bitcoin is just another financial asset to them. However, the summit participants also gave the world to understand that Bitcoin wasn’t threatening the global economy, which is definitely a positive sign for the global cryptocurrency market.

There were some other news affecting the BTC exchange rate, including the SEC’s investigation into dozens of ICOs, as well as the Bank of Japan’s warning to Binance about the necessity of getting a license if the exchange still wants to work in this country, and so much more.

At the same time, NordFX experts report that all of those news made Bitcoin go flat, not to mention the reduced amount of sell offers. All of that can be seen as the rise of the bullish sentiment in the market.

 

 

 

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