Bitcoin: the “trick” of lowering will be revealed for the new year

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The stock market went into a state corrective rally. Apparently, market participants decided that the prices really reached the “bottom” after which the cost of the main asset, Bitcoin (BTC), will no longer be able to decline. In the last 24 hours the bitcoin reference rate has risen by nearly 9% and trading above $4,400. All altcoins immediately followed the largest coin, showing a growth of 3% (XRP) to 31% (TRX). The total capitalization of the stock market jumped by $11 billion.
Passed the “bottom”? That is the question. Opinions are seriously divided, however, judging by the significant growth of the cryptocurrency, many people still decided to stick with the optimistic approach. The failure of BTC to $3,500 has indeed become an important point of support from which the market started to buy bitcoins at the current minimum. However, it should be noted that in the current phase of the market speculators can pretty soon get to lock in profits that may provoke a new wave of sales.
Then the new technical order to reduce may be around $2,750, the failure of which will constitute 85% fall of asset with historical high of $19,500.
What’s next? We understand already in the beginning of the new year – and here’s why.
Among the news, don’t miss statements by Nasdaq about the launch of the futures on Bitcoin (BTC) in the first quarter of 2019 in partnership with VanEck. It is the profit from the instability of cryptocurrency has become a hallmark of this company at the offices of the investment. So wall Street does not change its strategy.
In addition, in late January, cryptocurrency platform Bakkt will also have to run your BTC futures with physical settlement, and VanEck continue to attempt to obtain the SEC approval for the launch of a Bitcoin ETF. Plus, is ready to launch custody services for institutional investors.
Such a vast kaleidoscope of news gives an indication that the drawdown Bitcoin (BTC) was only a “trick” of the market before imposing momentum of demand in January 2019. In this lies the paradox: the lower the price of digital assets at the beginning of the new year, the higher possible demand big capital and retail investors.
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Alexander Kuptsikevich Companies,
Analyst
FxPro