The price of Bitcoin on Sunday, April 18, dropped to $55,000, a drop of more than 10% per day.The previous rise in the price of the cryptocurrency took place against the background of waiting for the listing of the American exchange Coinbase on the Nasdaq trading platform.
Coinbase's first listing on the stock marketa major crypto exchange listing and has attracted significant public attention with accompanying demand for cryptocurrency, notes analyst Joseph Young. However, the very moment of listing coincided almost perfectly with Bitcoin reaching a maximum of about $65,000, from which the price began to correct downward. Thus, the classic rule of financial markets “buy on the news, sell on the fact” worked.
</p>In addition, high funding rates for traders wishing to take long margin positions on Bitcoin have become an important factor.
Together with strong technical resistance andby reducing the excitement after the listing of Coinbase, they contributed to the rollback of the cryptocurrency price to support of about $ 55,000. The current level remains important for the market, since it took bitcoin about a month to overcome it.
At the same time, cryptocurrency traders are inuncertainty about where Bitcoin will head next. For example, analyst Cantering Clark, relying on the data of options trading, says that the market does not show clear preferences in favor of growth or decline. He expects Bitcoin to remain sideways, consolidating around $ 60,000.
“Options with strikes are leading in terms of position volumesaround $ 50,000 and $ 80,000. I think their sellers will be happy, and I continue to believe that there will be a shift towards the end of April / early May that will make holding long Bitcoin less preferable. No breakouts, just one range and rotation. "He writes.
In the long term, traders remain optimistic. Thus, Crypto Capo notes that Bitcoin remains above the range, which began to form about three years ago.
“Bitcoin has broken out of the range in whichaccumulation took place for more than a thousand days. This usually leads to a long duration. Currently, growth relative to the previous maximum is only 200% "- he declared.
Where is it more profitable to buy bitcoin? TOP-5 exchanges
For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.
The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.
Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?
Rating of cryptocurrency exchanges:
| # | Exchange: | Website: | Rating: |
|---|---|---|---|
| 1 | Binance (Editor's Choice) | https://binance.com | 9.7 |
| 2 | Bybit | https://bybit.com | 7.5 |
| 3 | OKEx | https://okex.com | 7.1 |
| 4 | Exmo | https://exmo.me | 6.9 |
| 5 | Huobi | https://huobi.com | 6.5 |
The criteria by which the rating is set in our rating of crypto-exchanges:
- Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
- Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
- Feedback and support– we analyze user reviews and the quality of technical support.
- Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
- Platform Features– availability of additional features — futures, options, staking, etc.
- final grade– the average number of points for all indicators determines the place in the ranking.
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