Three reasons to make the encryption market price rise

Discussion in 'Crypto Investing/Trading' started by cortanababy, Sep 17, 2018.

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  1. cortanababy

    cortanababy Contributor

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    Citicoins data offer: BTC bitcoin price reported $6,457, down 0.59% for 24 hours; ETH Ethereum reported $214.89, up 24% for 24 hours; BCH bitcoin cash reported $434.4 for 24-hour, down 3.62% for 24 hours; LTC Litecoin for $55.53, The 24-hour drop was 3.21%; the EOS price reported $5.286, a 24-hour increase of 0.14%.



    Three reasons to make the price of the encryption market rise

    According to Coindesk, analysts Sam Ouimet and Omkar Godbole issued a message saying that although the recent decline in the encryption market once exceeded the Internet bubble in early 2000, the market has rebounded today. The analysis believes that three reasons lead to this rebound. 1. Eth price recovery. Because many digital currencies are built on the Ethereum blockchain, the recovery of ETH can translate into a recovery in other currencies. 2. Short-term strength of BTC. Because the future prospects of digital currency are heavily dependent on BTC, the long-term technical chart looks at a major bullish reversal pattern. 3. Global market risk appetite. As China and the United States returned to the table at the negotiating table, global assets rose.



    Market sentiment: Bitcoin futures rose more than 2%

    CME Bitcoin futures BTC October contract closed up 145 US dollars, or 2.31%, to 6,435 US dollars, according to the statistics, on June 29, the lowest monthly record of 5,865 US dollars. CBOE Bitcoin futures XBT October contract closed up 132.50 US dollars, up 2.11%, to 6422.50 US dollars, June 29 also 5,907.50 US dollars to create the lowest closing price of CBOE Bitcoin futures contract.



    BTC leads the main circulation certificate to rise, rebound or will continue

    According to Citicoins data, the TI index reflecting the overall performance of the blockchain industry reported 574.27 points at 9:00 on September 14th, an increase of 14.14 points or 2.52% from the same period of last year. The general platform index TIG reported 384.03 points, up 29.41 points over the same period of last year, or 8.29%. According to monitoring, the popularity of BTC rose to 0.0705% compared with yesterday, and the flow rate decreased by 2% compared with the same period of last week. BCtrend analyst Jeffrey believes that the monthly average transfer value is the highest in May, but the monthly average currency price is the lowest in May, and this week may continue to rebound. In terms of technical analysis, independent analyst Tommy Albert believes that BTC leads the general circulation certificate, and the rebound is close to the target of $6,600. The space above may not be large. Investors should pay attention to the risks.
     

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