Monday, February 19, 2018

Bitcoin is gaining ground, at over 11,000 $ :


The mother of digital currencies is accelerating its gains since its recent rebound to technical support.

Since February 6, the bitcoin has grown 57%, say the data compiled by Bloomberg, its curve bouncing beyond its 200-day moving average.

Over this period, the BTC surpassed the performance of its closest "rivals", the ethereum (ETH), the ripple (XRP) or the litecoin (LTC), up about 4%.

Currently trading at $ 1,110 ($ 1,4084), a level it had dropped since the end of January, bitcoin has a market capitalization of $ 188.8 billion, a critical mass comparable to that of the US-based giant. non-alcoholic drinks, Coca-Cola.

After a crash last month, which destroyed hundreds of billions in value, most of the 1,500 cryptocurrencies in circulation found an upward trend in mid-February.

Fears of stricter regulation, which have been one of the catalysts for the recent fall in prices, seem to have eased.

"The future of cryptocurrency will largely depend on the coordinated approach of regulators and international decision makers to frame these instruments and strengthen the confidence of market players," said Monday the rating agency Standard & Poor's. "The exhibition remains limited" so far.

Even the crypto community is rustling with some calls for caution. Vitalik Buterin, the founder of Ethereum, recalled that this new asset class remained "hyper-volatile" and could see "at any time" prices fall "close to zero". And to insist that "traditional assets are always your safest bet".

According to the Coinmarket website, the overall financial weight of digital currencies is currently $ 505.86 billion.

The most "bullish" speakers seem to resume their optimistic forecasts, finding technical logic to future records.

According to the 22 corrections of 20% or more since 2010, bitcoin takes about 1.7 times the duration of its decline to recover, recently noted the co-founder of Fundstrat Global Advisor. The price of cryptocurrency could reach a new high in 85 days, at over $ 20,000 a unit.
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