On Thursday, August 20, the price of bitcoin falls. At 09:35 UTC, the first cryptocurrency is trading at $11,781.95 (-0.03%), according to CoinMarketCap.
Bitstamp BTC/USD chart by TradingView Ether fell to $408.73 (-0.64%).
XRP fell 1.04% to $0.289. The FxPro team of analysts notes: “Bitcoin loses about a percent per day, gaining a foothold at a price of about $ 11,700. The bears managed to nullify the momentum, growth above $ 12,000. However, the correction did not take on the features of a massive sell-off. Staying above $11,500 will indicate strong demand, leaving the chances for an early return to grow.
The traditional market may well set the direction of movement for cryptocurrencies, and it is still difficult to ding clear market signals here. On the one hand, there is an understanding of overbought stocks and even precious metals.
On the other hand, new portions of incentives and promises from central banks act as guarantors of the further development of a favorable scenario. The stock market has now become a kind of reflection of the well – being of the economy, which politicians actively use, but behind the beautiful indicators of the heavy weights of the indices, the reals picture of what is happening is often lost.
Sooner or later, the depressing fundamental situation will become more difficult to hide, and in the event of a sell-off in the traditional market for bitcoin, the main text will begin for strength.”