Bitcoin exchange rate: Investors are looking for the “bottom” in the area of$ 4000, but no luck yet
Stock Markets Group – the exchange Rate of bitcoin continues to make attempts to turn from mark 4 $ 300, but it is not very successful.
Meanwhile, experts in their forecasts have already identified the range of 4000-4500 dollars in which the price of Bitcoin will continue for a while.
The current correction cryptocurrency is the fifth in the entire nine-year history of its existence, and in the first three, the most popular asset lost more than 70% of its value, and once the depreciation amounted to as much as 94%.
Now the drop in prices lasted for 79.7% and this, according to many analysts, is not yet critical, especially as the previous 4 times have not led to a complete collapse of the market.
However, if a more thorough analysis of the dynamics of the exchange rate of bitcoin it should be noted that previous recessions occurred in the conditions of strong volatility and density of the speculation.
While the past three months, volatility has amounted to around 1.5%, which suggests that the conditions in which occurred the sale, can not be compared with previous cases.
Chart bitcoin/dollar is still not showing a surge of optimism, and even in conditions of relative calm, the “bears” manage to control the situation.
Bitcoin slightly down, but most likely it is caused by the usual risk aversion after a strong collapse and lack of confidence that current levels are “down.”
However, technically, the previous wave of sales, in our opinion, fully completed, and further quotes will try to start from the current values.
Ichimoku and moving average do not give clear signals and coasting confidently confirm a downward trend.
To date, most of the dozens of cryptocurrencies first do not feel very confident.
So the Bitcoin exchange rate has weakened Cash 2.12% and is around 238$, the value of Ripple has lost 1.56% and is in the area of 0.402$, the price is Ethereum decreased by 1.4% and reached the level 121.67$, and the Gold Bitcoin exchange rate has appreciated by 6.26%, and for one coin on the exchanges propose 21.4$.
Bitcoin exchange rate in search of a bottom in the area of $ 4,000
Now according to experts, the situation with Bitcoin is completely dependent on how investors remain confident about the prospects of legalization of crypto.
The asset itself gradually fades into the background and its existence as a tool to quick money, more amenable to doubt. Can most popular cryptocurrency to make the rapid leap up after reaching new lows is not clear.
And confidence in the fact that a token can exist long without emotional make-up and speculative sentiment either.
There is only the blockchain technology, and it is very likely that she will in the future become the tool that will lead to the emergence of a new investment product.
Bitcoin is too limited in terms of viability because the number of coins is not infinite, this means that the liquidity of this instrument can be the main reason for his disappearance.
The current dynamics and the universal rejection of the token as a promising investment tool indicates the weakness of cryptocurrency among the owners of big capital.
By the end of the first decade of the feeling of a failed experiment still on the agenda, and for many optimists, the current collapse was the financial collapse.
According to our forecasts, the current level of$ 4000 is not the latest and in the future, we expect to hike the prices of bitcoin in the area of $ 2,500.
Market analyst cryptocurrency
Stock Markets Group™