Bitcoin remains in the “limbo” of limbo

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The previous week was quite good for the cryptocurrency: bitcoin tested the level of $10,000, and the ether broke $800. This growth occurred on a fairly mixed news background.
First, Goldman Sachs told about the possible start of trading cryptocurrency that would be simply impossible a couple of years ago, when bitcoin was known mainly as a means to buy drugs on the Darknet. According to one of the governors of the Bank: “We came to the conclusion that bitcoin is not a hoax,” and soon the organization will launch a “design forward” – his version of futures. Of course, the direct participation in the auction while there is no question.
At the same time, the Internet unfolds another drama, called “Facebook moment”: traders once again talking about the “draw” of volumes, prices and even mined coins on most resources. These articles are better read as a whole (for example, to find the Crypto Data mostly FAKE), but in a nutshell, the situation is very reminiscent of the good old Forex cuisine “paint” any beneficial numbers, for example, we are talking about the site OKex, where according to the calculations of speculators about 93% of the volume simply made up.

Bitcoin has suffered from Buffett

Warren Buffett at the annual meeting of your Fund again criticized the cryptocurrency, saying that after the reduction of euphoria digital assets will have a bad ending. Vice-President Charlie Munger was more succinct: “When someone sells excrement, you too afraid to stay on the sidelines and miss the growth?”
Word about the mass recognition of cryptocurrency institutional investors say it is not necessary, despite the rumors about the interest of the major funds in the crypt and waiting for them to find a better time to enter the position. Something tells- the emergence of a “physical” bitcoin banknotes with denominations of 0.01 and 0.05 BTC from a start-up from Singapore this situation is not going to improve.

Attention to the cryptocurrency in the network remains low

Overall, despite the good expectations in the long term, it is difficult to predict the behavior of prices in the near future. Cryptocurrency is gradually recovering, but the growth of interest in the asset and did not happen: the number of queries in Google are still significantly below the values of January and December, and the growth of new purses significantly behind the previous year. In the last article I talked about the return of “risk-on” market and seasonality on the market, the drop in prices early in the year and a new “rally” in June-July, so if we see positive changes in queries, number of wallets and the growth of transactions and 2018 will be no exception.
Michael Mashchenko,
Analyst social network for investors
eToro in Russia and the CIS