Bitcoin falls 1.5% and fails to exceed USD 10,000
Bitcoin started the week with a slight 1.5% drop and is trading just above $ 9,600. The largest cryptocurrency on the market experiencedits third rejection of $ 10,000 so far this month last weekend . At the close of this note, BTC is trading at $ 9,625 .
BTC reached USD 9,910 yesterday , a figure almost similar to that of May 14 , but at no time was it able to reach the five figures. On May 8 , moreover, it had grown above $ 10,080 , but hours later saw a sharp slide to $ 8,100.
Faced with what seemed an imminent jump above 10K in hours on Sunday, specialists argued that a new rejection would open a considerable setback in the short term , and spoke of supports between $ 6,800 and $ 8,100. However, BTC started on Monday with a slight rejection , which at the moment is nothing more than a natural blow to its volatility .
On the other hand, the analysts claimed that the most optimistic scenario for the crypto ecosystem, predicted a powerful rally above USD 10,000 , if BTC is entrenched specifically above $ 9,800 .
As for the altcoins market , there have been no significant movements. Ethereum (ETH) , the benchmark altcoin, grew 1.2% and is currently trading at USD 210. In the same sense, Bitcoin Cash (BCH) and Litecoin (LTC) grew by 0.8% and 1.8% , respectively, and trade at $ 244 and $ 44 .
In the last hours, on the other hand, the president of the Federal Reserve of the United States, Jerome Powell , assured that the agency "flooded the economy" with printed money after the fall of the Dow Jones in March, and investors moved away from US Treasury bills.
"As a central bank, we have the ability to create money digitally. And we do that by buying Treasury bills or bonds for other government-guaranteed securities. And that actually increases the money supply. We also print the real currency and distribute it through of the Federal Reserve Banks ”, assured Powell.
The actions mentioned by the official could have a short-term impact on traditional markets , although the latest movements of the crypto ecosystem in general, and of bitcoin in particular, indicate that the COVID-19 pandemic has considerably decreased the correlation of both. markets .