Expert: the exchange Rate of bitcoin can be sent to 7 700$

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The stock market has formed a downtrend, in which the main cryptocurrency in the environment continue to fall in price, and the exchange rate of bitcoin broke below the $ 8,000 level and could fall to $ 7,700.
According Libertex, bitcoin to 12.100 per day fell by 4.15% to 7832 dollars in capitalization in 133,7 billion. The Litecoin exchange rate has weakened by 6,50%, to $ 124,5 capitalization of 7.1 billion dollars. Ethereum has declined at 12.00 at 5.4% – up to 615,9 dollar, its market capitalization has reached the 61.8 billion. The Ripple rate fell by 7.58% to 0.61 per dollar of capitalization at 24.2 billion dollars. The total market capitalization amounted to 344.2 billion.
Important news for the stock market was the news that yesterday the state Duma adopted in the first reading the bill on the digital economy. The bill introduces the concept of “digital money”, but admits that legal tender they are not.
In the future days, we can expect that cryptocurrency will continue trading lower in the part formed on the market downtrend. The rate of the Ripple may drop below 0.6 of the dollar, Ethereum may fall below the level of 610 USD, and Litecoin has the risk to fall to $ 120. Bitcoin, most likely, will fall in price to $ 7,700.
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Ivan Marchena,
Analyst
GK Forex Club