Bitcoin is restored: the price rose by 7% after a sharp decline on Monday
On Tuesday, the price of Bitcoin has risen dramatically, as investors returned to the market to find the cheapest deals after recent losses.
On the Slovenian BitStamp during the morning US trading session the pair Bitcoin / USD jumped by 7.16% – up to $ 486.35. Prices for the Bitcoin, is likely to find support at $ 441.51, the low of May 19 and resistance at $ 510.00, the high of August 18. Bitcoin value at the Bulgarian BTC-e increased by 8% – up to $ 466.94.
According to the price index CoinDesk Bitcoin, which calculates the average price on the major exchanges, the price of cryptocurrency increased by 3.54% to $ 476.97. Meanwhile, the American Stock Exchange steam Kraken Bitcoin / USD rose by 4.38%, or € 15.47, before trading at € 369,00.
Market participants believe that the decline happened on Monday as a result of excessive margin trading, which led to an immediate collapse of the platform BTC-e and, at least, on another stock exchange. The sharp decline triggered a cascading effect on the entire Bitcoin market, causing prices showed a sharp decline. A number of traders and market analysts also attributed to the reduction of price manipulation in the results of short-term speculators who deliberately cut prices to then buy them back at a minimum.
on Bitcoin prices have lost more than $ 100, or 17%, after August 11 the Bureau of Consumer Financial Protection published a long series of risks which are virtual currency for consumers.
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