Forecast for cryptocurrencies BTC, ETH and XRP for May 27, 2021
The price of Bitcoin has recovered to the level of $39,000. Ethereum rose to the level of $2,750, and XRP-to the price value of 99 cents. The total capitalization of the crypto asset market was $1.72 trillion.
The price of the first cryptocurrency continues to recover. For a short time, the bitcoin exchange rate returned above $40,000. The rates of the top altcoins are also growing. Against the background of a possible ban on mining in China, the bitcoin exchange rate fell to 37,000. But so far, the country's authorities have not made specific statements on this issue, and the exchange rate of the first cryptocurrency has begun to recover. Open interest in the bitcoin futures market decreased from 27 billion to 11 billion, which indicates the possibility of continued growth of the token rate. Another cheerful tweet by Elon Musk, who unexpectedly became one of the most influential people for cryptocurrency trading, also pushed Bitcoin to growth. JPMorgan analysts believe that in the long term, the bitcoin exchange rate will continue to grow, but in the near future, the cryptocurrency market may continue to decline.
The Reserve Bank of South Africa and the central Bank of Indonesia have begun exploring the possibility of launching their own digital currencies for making retail payments. The Central Bank of South Africa announced that it has begun to study the technical potential of state-owned cryptocurrencies and their economic feasibility in general. The regulator will focus on how the possible launch of the digital South African rand will affect the country's economy and its development strategy as a whole. The initiative will include hands-on experiments involving multiple technology platforms. Meanwhile, the Central Bank of Indonesia is evaluating which technology is best suited to create a digital currency that will become a legalized payment instrument along with conventional money. During the pandemic in Indonesia, the number of online transactions increased. Therefore, after the appearance of the digital rupee, the population of Indonesia should not have any difficulties with the transition to the state cryptocurrency. It should be noted that in terms of developing state-owned cryptocurrencies, China is ahead of many countries. The People's Bank of China has already tested the digital yuan several times in different cities and is now approaching its official launch.
Signals for trading cryptocurrencies Bitcoin, Ethereum and XRP
The forecast is expected to reduce the price of Bitcoin to the levels of 38,000, 37,000 and 35,000 Dollars. Ethereum will decline to the levels of 2500, 2300 and 2000, and XRP - to the price values of 97.95 and 90 cents.