rate rose by more than 7% in the first half of the day on Friday and price surged above the level of $5,700, which allowed to update a maximum of 2019.
capitalization again exceeded $100 billion, which corresponds to the level of November last year but is still much lower than the values of earlier segments.
The growth is observed despite the recent recognition of Tether’s lawyer that not all of USDT have liquid collateral. A number of analysts, up to today’s rise, predicted the next upward movement, assuming that this is how the market can react to the negative around Bitfinex and Tether and the short positions added on this background, but not excluding that the rise may be short-lived.
At Bitfinex itself, where over the past few days has exceeded the on other exchanges by several hundred dollars, the largest has already been above $6,000. At the same time, the main pair on Bitfinex /USD is only 50th in the general list by volume over the last 24 hours.
On Thursday, the New York consulting firm Delphi Digital presented another on the state of the market, where it repeated the ideas described by it in the December publication, according to which the minimum of the current cycle was left behind. The analysts build their conclusion on the basis of observing coins that have not been moved for more than a year and, presumably, belong to long-term holders.
Delphi Digital claims that sales by such holders have been minimal in recent months.
“In fact, we are beginning to even observe a very slight upward movement in the positions of long-term holders, which corresponds to the trend, which marks the achievement of a minimum during the previous cycle,” they write.
Other large followed and scored 2–8% each.
The segment’s capitalization together with it reached $186 billion, which also corresponds to the figure of November 15, 2018.
Author: Marko Vidrih
Published at Fri, 03 May 2019 10:22:42 +0000
