When you start to grow bitcoin? – analysis of rate for 18 June and forecasts

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In the absence of new news bitcoin konsolidiruyutsya in a narrow range of$6400-6500. After strong price fluctuations last week, the first cryptocurrency went into the flat. The price reduction is on the entire cryptocurrency market.

The market capitalization of bitcoin has dropped to $110 billion, and experts while new records are not waiting. Experts say that the digital asset has missed the best time for recovery and continues to move in the downward channel. Strong resistance is waiting for bitcoin at the level of $6900-7000. Only sustainable move above this level will allow bitcoin to grow to $7683 (23,5% Fibonacci). The asset received major support level of $6000. If the bears aktiviziruyutsya, bitcoin can fall to the February lows of $5900.

All stock indicators point to a further fall. The 100-day moving average is below the 200-day, the path of least resistance for cryptocurrencies is falling. The gap between the lines narrows, weakening bearish momentum, but due to weak buying activity, the sale may continue. RSI indicates neutral value. The asset is trading below the cloud of Ichimoku, it indicates a strong downtrend.

Recently you conducted an analysis and put forward his theory of the causes of the fall of bitcoin. If he’s right, next week the course should recover.

Previously on this topic in the news:

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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    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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    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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