Bitcoin goes to $8000 – analysis of rate for the 7 June and forecasts

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Bitcoin gradually restores the positions and grows with him intensified, and other digital assets. In the first five observed the growth of all cryptocurrencies except the EOS. Total capitalization is $346 billion.

Opinions of experts concerning bitcoin is as always full of contradictions. Even famous investors cannot come to a consensus: Steve Wozniak, co-founder of Apple is confident that bitcoin has the prospect of becoming the world currency, and the CEO of Ripple, on the contrary, skeptical. In any case, while there is no news that would significantly affect the course of the first cryptocurrencies.

The technical picture

While there is no evidence that the uptrend is long-term. Bitcoin is trading inside the Ichimoku cloud which could mean continued growth, and new course correction. The 100-day mA is above the 200-day, the path of least resistance is pointing up, however, the gap between the lines narrows, which indicates a weakening of bullish momentum. RSI indicates a slight overbought, but buyers can still increase profits and push bitcoin to around $8000. An important line of resistance is at the level of $7780 – its break will allow bitcoin to grow to $8000 and above. Otherwise, the projected pullback to the nearest support line is at$7600 and $7400. The market capitalization of bitcoin is $131 billion.

Previously on this topic in the news:

24.05.2018: Tom Lee: “3 reasons bitcoin will rise to $25 000”

Tom Lee Lindstroma prediction on which bitcoin rally after the conference, the Consensus did not materialize, continues to insist that by the end of the year the value of cryptocurrency will rise to $25 000. The forecast analyst with wall street underpins the three factors.

3 reasons supporting the growth of bitcoin:

  • The cost of production and circulation of bitcoin. When the first cryptocurrency gave about $8000, in an interview with CNBC Tom Lee said that in fact, bitcoin is trading at cost. He has previously said that production costs amount to about $6000.
  • Institutional investors. Many are willing to invest and are interested in digital assets, but can not enter the market due to the uncertainty of the regulation. Tom Lee added that the recognition of bitcoin as an asset class will become a powerful impetus for the resumption of the rally.
  • Historical analysis. The company’s specialists Fundstrat Global Advisors analyzed the history of the development of bitcoin. Interesting, but for all the first borne digital currency, the profit answer only 10 days a year. Tom Lee says that the main thing is not to miss these 10 days since the rally from $8,000 to $25,000 will be very fast.
  • The current situation on the market analyst and investor explains “typical cryptocurrency volatility” and is confident that bitcoin will beat your record from last year.

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    21.05.2018: 5 factors that affect the price of bitcoin

    The price of bitcoin has always had tremendous volatility. 2 months of 2017, the rate has increased by 223%, and just as easily fell by 60% in January-February 2018. What factors provoke the UPS and downs of the digital currency, and affect its value?

    5 factors affecting the price of bitcoin:

  • Supply and demand. Like any currency, bitcoin is affected by supply and demand. Mining bitcoins is similar to gold mining. Gold supplies are limited: to bring it to market, people need to get it. Also with hashing: the more people want to get bitcoin (and at the moment produced 17 million coins) – the higher its price.
  • Media. Fiat currency is less influenced by newsthan cryptocurrency. Positive news contributes to higher prices, the negative can derail the course. Stores that accept cryptocurrency as payment, companies that adopt the bitcoin system known investors who believe in digital assets – such news is going to benefit and enhance the credibility of virtual money. For example, the operator BitPay recently announced that it will be possible to pay taxes in Bitcoin.
  • The policy changes. Bitcoin is not controlled by the government and financial institutions – that’s why people paid attention to it. However, an official ban of the use of cryptocurrency (Pakistan, Kazakhstan, China, India and other countries) contribute to the depreciation.
  • State regulation. Decision regulating the use of digital currency can cause major fluctuations. For example, when Japan has recognized bitcoin as legal tender, the price of the asset began to grow rapidly. While the official means of payment bitcoin recognized a few, mostly the government equates it to the property.
  • Change the rules of the system. We will focus on hardforce – branches from the already existing cryptocurrency. There is a new currency, with similar characteristics, but working by different rules. Typically, the hard forks , the demand for bitcoin increases.
  • Experts believe that due to the fact that a reduced amount of bitcoins will continue to grow demand for them. Many predict that by the end of 2018, the first cryptocurrency would cost $20 000.

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    12.04.2018: 20 facts about Bitcoin

    With the first cryptocurrency – bitcoin are the hopes and the disappointment of investors, the interest of the masses and followers. During the existence of bitcoin was formed around a lot of rumors and interesting facts. Here, in our opinion, the most interesting of them.

    1. The identity of the Creator of bitcoin remains a mystery. Known only to the alias Satoshi Nakamoto. But no one has ever seen him live. In search of this mysterious person took years. The most common version is that under this name hides a group of programmers from Japan and the United States.

    2. The first transaction took place on 21 January 2009.

    3. All that is “released” of 21 million coins. The last one will be mined in the year 2140.

    4. Of the total mined coins only 36% are involved in trafficking. The remaining 64% are without movement. Experts believe that the purses with 30% of the issued bitcoins are completely lost.

    5. 50% of all bitcoins are owned by about 1,000 people. Here are the TOP 10 version Fortb.

    6. First purchase with bitcoin was held in 2010. Then cryptomnesia named Laszlo ordered 2 pizzas for 10,000 bitcoins. In the course of April 2018 is 6.8 million USD

    7. The maximum rate of bitcoin, which was recorded in December 2017, is $20042.

    8. Bitcoin has become more expensive ounce of gold in 2013.

    9. Velikobritanets James Howells accidentally threw out the hard drive with the key from the bitcoin wallet, which was 7500 coins. $51 million at the exchange rate on April 2018.

    10. When the transaction is executed, unknown to the user mixed up the field and paid for the transfer of 0.01 BTC bitcoin 80,99 that at that time (in 2013) was $50 thousand

    11. The first bitcoin ATM was installed in Vancouver. In Moscow there’s no ATM in April 2018 opened the first exchanger.

    12. Volatility accompanies the bitcoin from the day of its release. The greatest fall was recorded in April ‘ 13, when the rate fell by 80% in just 24 hours.

    13. Experts debate around bitcoin and its fate continues. Each month there is an expert who predicts the collapse and fall of the course, for example, up to $100 and then follows a forecast of upcoming growth. The most bold and optimistic prediction that bitcoin will reach a value of $100,000.

    14. In 2017 a woman from USA forgot your password from the wallet with bitcoin to regain the memory she turned to psychics and hypnotists. But, as reported, to no avail.

    15. Less than 0.1 PTS – the balance of 90% of bitcoin wallets.

    16. About 40% of all exchange operations with bitcoin falls in the yuan.

    17. Capitalization of Bitcoin more than the GDP of some countries, such as Ukraine and Estonia.

    18. Thailand was the first country banned bitcoin in 2013, and a few years removed lifted the ban. Interestingly, the logo of bitcoin coincides with the marking of the Thai baht.

    19. The original goal of creating bitcoin was the care of the state control and monopoly of the banks. Fast and almost free transfer of funds. Money freedom. However, in practice, this idea is not entirely successful. Governments regulate the circulation of bitcoin and other cryptocurrencies. Transaction cost is also about equal to Bank Commission.

    20. Bitcoin is sweeping the planet. More and more shops and large manufacturers of equipment, vehicles and clothing, as well as major airlines say about accepting bitcoin as payment. According to the expectations of optimists in 5-10 years payment in bitcoins will become as commonplace as payment by credit card.

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