Bitcoin: the buyers will take revenge, but not now

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Fall! “Fall?”- ask those who have not read our past reviews. In the abyss, in which those who are not listening to us, and only listened to enthusiasts who naively believe in the rampant growth of the bitcoin exchange rate, those who only smiled when he heard talk about the fall of the main cryptocurrency, will bite elbows and to look for opportunity to sell when it is too late. Yet on my chart visible the figure of $8000. But this support will soon fall under the onslaught of the bears. The bulls are already out of breath, they had no power, they barely move around the ring and at any moment could fall from precise strike the enemy in red shorts.
For fans of a variety of technical analysis indicators I will add that this knock down will knock the price of bitcoin below the 50 day simple moving average. And then what? All, as we wrote: $7800, $7400, $6800 and on. And even 2018 Consensus couldn’t help the cattle…do Not despair: the growth will be. The bulls will have the opportunity to take revenge. But will he be as juicy, and when that will be is unknown. But certainly not before $4700.
“Never mind, I don’t have bitcoin, I have the air” – think of inexperienced holders of Ethereum. And they will be right. It’s not a disaster, a catastrophe! The fact that Ethereum is identical to the movement of the elder brother – for anybody not a secret. And not even a secret that he does it on a larger scale.
Price per coin makes such a juicy movement, that and I want to have time to grab. The main thing to grasp in the right direction. And now the bears, he imagines himself a wild cat, hiding in the Bush ready to grab price by the throat and drag below $670. Below this level the victim stop resisting and begin eagerly piratica predators to the level of $580-$600. And the remaining bone will be gnawed mercilessly far below the next resistance level at around $500-$540.
Meanwhile the news more and more confirmed the fact that cryptocurrency has given roots and needs to gain a foothold in the habitat. And even previously skeptical JP Morgan creates its own strategy in the field of cryptocurrency.
Unfortunately, you will have to make concessions and to recognize the fact that regulators have to be considered. And the big players don’t seem to mind it. Bitfinex team, registered in the British virgin Islands, sought the part of its users information regarding their tax residency. The laws of the BVI be obliged to convey to the government information about specific accounts. Genesis Global Trading, OTC-platform Barry Silbert to trade digital currencies has received the Regulations of the state of new York- special license for conducting activities. Nobody wants to lose their place under the sun, so willing to ignore the laws and act within the framework of legal acts.
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Maxim Efremov
Executive Director,
ICBF