One of the reasons for the collapse in the price of bitcoin and other cryptocurrencies may be the growing popularity tablconv: many traders see “safe haven” in periods of uncertainty.
So, for a long time under the fire of criticism stablon Tether USD is still firmly maintained its position on the market. According to CoinMarketCap, a coin kept steadily in eighth place of a rating:
The course “stable coin” in recent days, again dipped slightly and currently stands at $0,9785. Also steadily declining capitalization this stabilini, which is now just over $1.6 billion:
However, this is not to say that the popularity of USDT is rapidly declining — in recent years, growing volumes of trades with this asset and according to this indicator, the coin is second only to bitcoin:
In a trading pair with bitcoin USDT piatogo more popular than the American dollar:
At the same time, competitors are not asleep Tether — promoted Circle stablon USDC already on 49-th place, and will soon be listing exchange Binance. The course of this stabilini somewhat high ($1,04), which may indicate growing demand for this token. As in the case of the Tether, in recent years there has been considerable growth of trading volume steilcoom USDC.
Also rapidly gaining popularity stabilini Paxos (51st place in the rating) and TrueUSD (43rd place). 235-th position of the Gemini stablon Dollar. The market price of all these coins is also a little more than $1.
According to a leading analyst Amarkets Artem Deev, recent the desire of traders to go to stabilini put enormous pressure on the price of BTC, being one of the reasons for the collapse in the market. The situation is aggravated by uncertainty on the eve of the hard forks of Bitcoin Cash, the environment of the developers who split into two opposing camps.
Also, I’m sure Deev, after breaking through a key support level near $6000 price will likely go even lower. The next target could be the level of $4800.
We will remind, CoinDesk analyst Omkar Godbole I am sure that in the coming days, bitcoin will be fixed at $5000.