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In the past 24 hours, the price of bitcoin has risen slightly to $ 4,046, a slight increase of 0.7% against the US dollar.
The positive upward movement of Bitcoin has led alternative crypto-currencies to record gains in the order of 5 to 33% compared to bitcoin and USD, the valuation of the cryptography market having rebounded to $ 140 billion.
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Bitcoin price chart 1 day (Source: Coinmarketcap.com)
The ERC20 brands, such as ICON, Wanchain, AION and 0x, posted solid gains of 3 to 5% over the day.
The market climate for bitcoins and cryptography is changing
Despite the stability of bitcoin prices in recent months, trading activity in the cryptocurrency market has increased significantly, as evidenced by the volume of major cryptographic badets.
The cryptocurrency sector continued to see companies progress with the expansion of services and products, growing strongly within a 15-month bear market.
Tuesday, for example, Digitec, the largest electronics retailer in Switzerland, has integrated bitcoin and crypto payments, which could favor the adoption by cryptocurrency merchants in the region.
The biggest online store in Switzerland is starting to accept #Bitcoin! https: //t.co/MsCFXBk3FL @bitcoin_ch
– Lucas Betschart (@lucas_lclc) March 19, 2019
Given the activity in the cryptocurrency sector, industry leaders, including Morgan Creek Digital co-founder and partner, Anthony Pompliano, have stated that crypto is on its way to becoming "the world's best." one of the fastest growing sectors in the alternative badet management industry over the next 10 years ".
In addition to direct investments in various cryptographic badets, Pompliano, better known to the crypto-currency community under the name of Pomp, said that investment firms could acquire blockchain or crypto-specific firms, or engage experienced investors in cryptocurrency.
He said:
As these companies begin to enter the space, many will choose either to (1) spend money impossible to engage talented and experienced cryptographic investors, or (2) pay to acquire companies. specialized badet management in blockchain and crypto. Although the strategy is easy to identify, there can be many complexities.
As a result, while operators remain cautiously optimistic about the trend in cryptocurrency prices in the near term, the macroeconomic trend is seen as more positive.
Technically, Mayne, a cryptocurrency badyst, said that if bitcoin fell below $ 3,900, it could be vulnerable to the next test in the region of $ 3,000.
Crypto evaluation chart on a day (Source: Coinmarketcap.com)
But if Bitcoin maintains its momentum and significantly exceeds key resistance levels, including $ 4,300 and $ 4,600, a large number of traders expect the price of bitcoin to continue.
"BTC and ETH have consolidated their efforts above key levels, as long as they hold, I'm still waiting at $ 4,100 and $ 147 respectively. If we lose $ 3,900 and $ 136, I would go too fast. Currently flat on BTC and still holding 50% of my ETH since $ 131, "he said.
Companies show signs of struggle
Earlier this week, it was announced that Bithumb, the largest cryptocurrency exchange in South Korea alongside Bithumb, is expected to reduce its workforce by 50% over the coming months in order to Adapt to changing market conditions.
A Bithumb official reportedly said:
Voluntary retirement is part of our support program for former employees and aims to provide badistance and training for placement. Except that, [Bithumb’s] the volume of transactions decreased compared to the previous year, [so] we try to provide internal measures. We will continue to add the necessary staff to various new businesses.
The volume of many cryptocurrency exchanges has reportedly dropped significantly since 2018, which is expected due to the drop in crypto demand since the rise in bitcoin at the end of 2017.
However, it remains to be seen whether the cryptocurrency exchanges will see an improvement in their volumes and their operations as the cryptocurrency market reaches the final phase of its bear market.
Click here for a real-time bitcoin price chart.
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