The exchange rate of bitcoin fell below $ 6,000, experts say the beginning of the end

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The exchange rate of bitcoin (BTC) broke through the important psychological level of $6k, and at the moment the reference cryptocurrency trading below $5,900.
Famous “Wolf of wall Street” Jordan Belfort stated that the current process is the beginning of the end, as the market of bitcoin “over the fools”. Whatever it was, the chorus of opponents of bitcoin is now very loud. Recently a similar statement was made by the head of Alibaba Jack MA, who proclaimed the era of blockchain, has launched on its basis, remittances from Hong Kong to the Philippines, but negatively expressed about the reference cryptocurrency in General.
If until now, the bears feared a new cycle of corrective rally, now smelled of blood and again dared to push bitcoin below the important psychological mark. However, to start panic selling in the market it is important is not the achievement of a certain mark, but a sharp movement of Bitcoin’s rate in the 10-15% range (currently it does not exceed 5% within the day).
Bitcoin does not help, and rumors that an influential mining community will not allow the rate to fall substantially below $5,900, since it is almost the cost of obtaining a single bitcoin.
Leading 3 cryptocurrencies is not just similar dynamics: at the moment they overlap one to one with a decrease of -3.82%. Other cryptocurrency in the top 10, losing 6%-7%.
A few positions in the top won a controversial stablon Tether. Recently it became known that the accounts of the company $250 million that had the potential to give impetus to the whole market, but that did not happen. It is likely that investors want to come in on the lower courses, and ahead we can see an increase of negative background and the drawdown of all cryptocurrencies to more acceptable to buy levels.
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Alexander Kuptsikevich,
Financial analyst,
FxPro