@BOMBERuss 20 September 2021 more from that month

On the afternoon of September 20, the bitcoin exchange rate fell to $42.5 thousand, falling in price by 10% per day. The first cryptocurrency has updated the minimum since August 5, as of 18: 30 Moscow time, it is trading at the level of $43.9 thousand. The total capitalization of the digital asset market decreased by 9%, to $2 trillion. Against this background, the margin positions of traders for $1.25 billion were liquidated, writes RBC Crypto. Reasons for the fall Bitcoin continues to decline after other markets, said Vitaly Kirpichev, Director of Development at TradingView in Russia. Similar dynamics can be observed on the US stock market, on the foreign exchange market for the EUR/USD pair and oil. The significant strengthening of the US dollar affects all assets in which it is expressed, the expert believes. European stock indexes also experienced a strong fall. For example, the Stoxx Europe 600 index declined by 2.1% (the maximum drop since July 19), the German DAX fell by a record 2.2% in two months. "Market participants are betting on the imminent curtailment of monetary stimulus to the US economy, so they are restructuring their long-term portfolios. We can find out about the approximate dates on Wednesday, when the two-day Fed meeting ends. Until this day, the nervousness in the markets may continue, " Kirpichev predicted. At the moment, two factors affect the BTC exchange rate: the risks of an investigation by the US Commodity Futures Trading Commission (CFTC) regarding Binance and suspicions of the crypto exchange in market manipulation, as well as the second package of infrastructure assistance to the economy planned by the US Congress, the amendments of which involve taxation of crypto projects, said Viktor Pershikov, a leading analyst at 8848 Invest. At the end of last week, two Bloomberg sources reported that the CFTC suspects Binance of conducting its own transactions based on customer orders before they are executed. At the same time, no official accusations were made. This year, the crypto exchange has faced pressure from financial regulators. For example, at the beginning of the month, the Singapore authorities added Binance to the list of companies that may violate local legislation. And in the summer, it stopped trading cryptocurrency derivatives in Europe, and residents of South Korea and Malaysia became inaccessible to some of the products of the trading platform. What will happen next According to Pershikov, the inability to gain a foothold above the $50 thousand level has led to the fact that no large margin positions have appeared in recent weeks. This means uncertainty in the market. Participants are waiting for either lower prices for the cryptocurrency, or the beginning of a steady growth, the expert believes. "I do not see any risks for cryptocurrencies and I believe that after a local correction to the $40 thousand mark, the price will be able to find support, after which I expect BTC to recover. The main scenario assumes an increase to the levels of $60-65 thousand by the end of the year, so I will use any price reduction until the end of September to increase purchases in BTC," Pershikov said. Andrey Podolyan, CEO of the Cryptorg crypto exchange, added that according to the technical analysis of the bitcoin exchange rate chart, "bears" will dominate until the $48.85 thousand mark is overcome. The expert called the fall in the price of bitcoin to the level of $43.4 thousand "an extremely negative scenario" and warned that a bearish trend could begin with it, and there will also be a possibility of a further decline to $30 thousand. #CryptoTrading