The fall of bitcoin can be renewed – analysis of rate for 15 June, and forecasts

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Bitcoin per day was up 2% and trading at $6500-6600. Other cryptocurrency is also slowly increasing in price, but experts predict that recovery may be short-term, because consumer activity is decreasing.

The market capitalization of bitcoin is $113 billionper day, the cryptocurrency has added $2 billion. However, the positive news that has intensified bullish movement and has not appeared. For holders, the situation is negative, the first cryptocurrency almost every day sets a new record and close to the annual minimum.

The technical picture

Bitcoin managed to break the resistance of $6476 (50-day moving average), now she plays a supporting role. The recovery of the BTC / USD limited $6610 (100-day moving average). A break of this line and sustainable growth higher returns bitcoin on the position of $6700and then $7000. However, the MACD indicator indicates a continuing decline in (100-day moving below the 200-day). The gap between the slide increases the pressure on sale. RSI indicates oversold, bulls have a great chance to improve the course of bitcoin, but while trading volumes are quite low. Indicator Ichimoku indicates a continuation of the downward trend – the digital asset is trading below the cloud. The total market capitalization of crypto-currencies is $285 billion.

Previously on this topic in the news:

14.06.2018: Bitcoin won’t rise above $14 000 – analysis for June 14, and forecasts

The currency pair BTC / USD is trading at $6400-6500, recovering from a new low of $6154, which is a bitcoin dropped on Wednesday. Amid rising trading volume of the cryptocurrency rose 3%.

Experts previously predicted that bitcoin will reach $32 000 by the end of the year. But because of the fall of the cryptocurrency market , the number of optimists was on the wane. Now Business Insider UK analysts believe that by the end of 2018, the digital asset will be overcome only by the mark of $14 000. In the preparation of the June report involved 10 cryptanalysts. They expect that by 1 July 2018 first cryptocurrency will return to position $8487and by 31 December will increase to $14 638. Were analyzed 13 of the cryptocurrency, according to him, the forecasts are not too encouraging: a significant increase, more than 200% is projected only for the EOS, if there is a running platform, others are unlikely to reach even last year’s highs.

The technical picture

On the short term stock chart clearly shows that the recovery of bitcoin is limited to $6500. If bitcoin manages to break this level, it will reach $6572 (100-day moving average), and then to $6700. As support is the 50-day moving average at $6300. RSI indicates oversold, but the bulls have taken a wait and not rush to buy assets. Ichimoku indicator continues to point to a downtrend , bitcoin is trading below the cloud. The market capitalization of bitcoin has dropped to $111 billion.

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13.06.2018: 3 reasons for the recovery of bitcoin prices

Hacking crypto currency exchange and pressure from the financial institutions has negatively affected the course of bitcoin. However, experts believe that bitcoin will recover, and there are 3 reasons.

The TOP 3 factors that will contribute to the recovery of prices:

  • Protection from hacker attacks. The news about the hacking of the largest exchange can negatively impact the entire cryptocurrency market. But what doesn’t kill bitcoin makes it stronger. Repeated break-ins and hacker attacks will lead to the fact that bitcoin and other digital currencies will be improved. Christian ferry, President BlockStar, said: “As with any technology for cryptocurrency break will be painful, but it will be an important factor in strengthening the cryptosystem, which will make her more secure. This is key for mass adoption of the digital asset”.
  • Investment giants. Major financial institutions are already investing significant funds and hire professionals to research trading opportunities of bitcoin. NASDAQ has announced the launch of the futures market of cryptocurrencies. Already this month under the control of NASDAQ will be running platform-exchanger DX.Exchange. Company Goldman Sachs last month, has offered its customers future contracts bitcoin. ICE, the parent company of the new York stock exchange (NYSE) is developing its own trading platform that will allow investors from wall street to trade cryptocurrencies.
  • Cheaper transactions. From the point of view of technology, bitcoin has made significant progress in solving the basic problems of network scalability. Technology SegWit, Lightning Network and Multi-Path Lightning Payments reduce the fees for transactions and provide better throughput. We should also mention the launch of Bitcoin Core 0.16.0 activated Protocol SegWit. Currently, about 40% of the bitcoin transactions are processed using SegWit.
  • The cryptocurrency, which is more than 300 times predicted the collapse and death, a very interesting future. Experts believe that the history of bitcoin is not yet completed, and should expect new highs.

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    04.05.2018: What you need to bitcoin reached a new high? TOP 5 issues currency

    After 3-month drop, Bitcoin is gradually restored. Now bitcoin is trading at $ 9600-9700, but whether cryptocurrency to return to the same height?

    The TOP 5 problems that need to be addressed:

  • Improving the safety. If bitcoin wants to become the analog of a common currency (medium of exchange and measure of value), it is necessary to create a more comfortable and safe for the user infrastructure. Christian Ferri, CEO of BlockStar said: “If bitcoin will be used as a valuable asset (for example, digital gold), to enhance the credibility of financial means to improve infrastructure security of the cryptosystem. It is very important the scale of the ecosystem“.
  • Stabilization of prices. To make bitcoin a viable currency needs to stabilize the price with the enhancements of the Protocol. If bitcoin (or fork) will be used for everyday transactions, the desired stability mechanism. People need to be sure that you bought today for $2 tomorrow coffee will not cost $50.
  • Institutional investment. To achieve new highs bitcoin need a lot of money. Darren Marble from CrowdfundX says that the key to growth of bitcoin in the hands of institutional investors. The expert is sure that the influx of money from institutions that invest in the cryptocurrency funds, will cause the avalanche effect, causing investors to actively support the digital currency. While buying cryptocurrency prevents concern about the safety, liquidity risk and storage assets.
  • Regulation of exchanges and exchange offices. If investors are confident that trading platforms regulated as asset protection is improved, the flow of funds will be more active.
  • Cryptocurrency exchange-traded funds. These funds will help to facilitate trade through the brokerage account and will contribute to the increase in prices and popularity of digital currencies.
  • In General, experts believe that the return of bitcoin to their previous highs – a question of time, and existing problems can be solved within a year.

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