Weekly Cryptonews
Bitcoin could not resist the $10,924 level and fell below the 50-day SMA on Tuesday.
Bitcoin keeps growing for the second day in a row
On Friday, bitcoin keeps going up. It managed to ascend by 4% in the face of the general positive mood of investors as for the cryptocurrency.
Being the first in terms of capitalization the digital currency bitcoin keeps soaring in price for the second consecutive session.
For the last 24 hours on the Bitfinex exchange, bitcoin managed to grow by 5.18% hitting $9346.40.
Bitcoin tacked on after a weak start this week, when bitcoin went down to $8,000. After two days of growth on Wednesday, bitcoin sank by about 8%, losing approximately $800 and sinking below the psychologically crucial level of $ 9,000.
However, positive sentiment got back and after two days of surge, the price of bitcoin surpassed $9,000, although it remained far from the weekly high of $9,761.50, not to mention the historic maximum of $20,000 recorded last December.
Among the major news in the markets, one can mention a bitcoin withdrawal worth about $140 million from the wallets of the bankrupt Mt Gox stock exchange. Traders fear that the release of up to 16,000 bitcoins to the market can provoke a real collapse of prices.
Among positive news can be called the speech of the head of the billion-dollar hedge fund Pantera Capital Management LP Dan Morehead, who told that the prices for bitcoin just shouting that one needs to buy it right now.
Morehead predicts that the bitcoin exchange rate will exceed its historical maximum for 12 months. Making the forecast for 10 years, he is assured that the market will grow to $40 billion. He added that institutional investors' interest in digital currencies keeps tacking on.
Besides this, Nasdaq is ready to start a crypto exchange in the future.
Ethereum soared by 7.6% hitting $684.48, while Ripple added by 6.7% being worth $0.85352.
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