Date: 3 months ago   Category: Economy

The cost of bitcoin has exceeded $7000, the market of cryptocurrencies has grown to $230 billion


Within the last 24 hours, despite negative expectations of most of investors concerning bitcoin, the cryptoforeign exchange market was restored for $14 billion, from $216 billion to $230 billion

the Price of bitcoin has overcome the key level of resistance of $7000 after passing of a mark around $6800 that as recognized traders of the cryptoforeign exchange market have noted, was decisive for short-term restoration of bitcoin.

If bitcoin couldn't exceed a mark of $6800, then, perhaps, insignificant correction which potentially could lead to decline of the leading cryptocurrency back to the area $6000 would begin. Instead, due to significant increase in volumes and recently received boost, the bitcoin was restored almost up to $7100, having tightened for itself and other market.

While Gas, Dash, Bytecoin and IOTA remain the best cryptocurrencies on August 28 from 30%, 28%, 23% and 19% of growth, in general for the last five days all tokens have shown themselves quite well.

In August, through correction of bitcoin from $8000 to $5850, tokens and alternative cryptocurrencies with small market prices have badly proved to be against bitcoin and US dollar.

In the last 24 hours of Holo, Tron, 0x, Neo, OmiseGo, ICON and Nano have registered big profits to US dollar, showing 5-15% of profit to bitcoin which has risen 5% a day.

the trading volume bitcoin remained Yesterday lower than 3,5 billion dollars, and the daily volume of all cryptoforeign exchange market was about 9 billion dollars. On August 28 the volume of bitcoin has exceeded 4,5 billion dollars, and the volume of all market of cryptocurrencies was restored to 12 billion dollars that testifies about obvious increases in demand.

On Binance, the most often used cryptocurrency exchange in the world market, the volume of couple of BTC/USDT has exceeded 316 million dollars that wasn't observed since July when the bitcoin has exceeded $8000. Where will the cryptoforeign exchange market move further? Erik Voorhees, the founder and the chief executive officer of ShapeShift, last week has said that the market of bears won't end, won't reach the biggest levels of resistance yet and won't show stability. But he has also told that now the best time for accumulation of digital assets thanks to low price range. I don't expect that it (the bear market) will quickly end though I think that the speed of a collapse was considerably slowed down. As a rule, in these bubbles, after passing of several months of the descending trend, you hang in the certain range for some time... But I think that we have finished with the main collapse, - Voorhees in an interview about Rena Noynera in the Crypto Trader program has told.

Though the main cryptocurrencies within the last two months were unstable, they haven't fallen below the main levels of support. The bitcoin has ensured support in the region of $6000, Bitcoin Cash remained higher than $500, and Efirium didn't fall lower than $250.

Already now the market of cryptocurrencies begins to be restored, and the bitcoin moves to level with

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