Bitcoin dropped to the support of $38,700. Ethereum reached the level of $2,400, and the price of XRP fell to 84 cents. The total capitalization of the cryptocurrency market was $1.6 trillion.
According to the analytical company Santiment, in recent weeks, whales have increased their stocks by 90,000 Bitcoins. Now, 48.7% of the mined Bitcoins are stored in addresses that store between 100 and 10,000 tokens. At the moment, these addresses hold 9.11 million Bitcoins worth $366 billion. Judging by these statistics, large investors continue to believe in bitcoin and buy the first cryptocurrency on the decline of the exchange rate. However, many of the whales are exchanges and other services that store clients' crypto assets. As for the owners of Ethereum, there is a decrease in the share of large holders. It is also interesting that miners have reduced bitcoin sales to the lowest level in the last five months. The weekly index of bitcoin sales by miners fell to 0.88 - this is the lowest figure in 8 months. Analysts expect the cryptocurrency to continue to grow, but at the moment, bitcoin remains below $40,000, without showing the ability to continue to grow.
In mid-May, shares of mining companies fell to the lowest levels in recent months, but since then, such securities have shown a significant recovery. One of the factors of the growth of mining companies was the possible ban on the production of cryptocurrencies in China. Chinese miners move their capacities abroad and place them on existing sites, which benefits large mining companies. The outflow of capacity from China led to a significant decrease in the hashrate of mining pools serving customers from the country. At the same time, pools working with North American miners showed a stable hashrate.
Forex trading. Cryptocurrency forecast for today, June 17, 2021
The forecast assumes a further decline in Bitcoin to the levels of 38500, 38300 and 38000 Dollars. Ethereum will decline to the levels of 2300, 2200 and 2000 Dollars, and XRP - to the price values of 82, 80 and 77 cents.