The situation in the cryptocurrency market has changed dramatically, and instead of waiting for new heights, investors are beginning to prepare for a deep drop.
According to a leading trader United Traders Alexei Markov, the pressure on Bitcoin is through the roof, “And it seems that there is still a lot of pain and frustration. Do not be surprised if in time we will see $5000 before the end of summer. But the subsequent return of $7500 for me to be an incredibly strong signal to zakupkam. Now, almost anything with a briefcase do not do, quietly waiting,” – said Markov.
As stressed by the Director of development of the exchange EXMO Maria Stankiewicz, falling below $8000 is unlikely, says RBC.
“The most important factors suggests that the position of Bitcoin as a hedge will grow. So the market and the price will grow,” she said.
As said analyst Dmitry Lavrov, the downward movement will continue, if in the near future Bitcoin will not be able to rise above $10 000.
See also”redo record”: the expert has predicted the exchange rate of bitcoin”In this case, you should pay attention to the behavior of market participants in the area between $8000 and $6000, where the market forms a support zone based levels, round numbers and moving averages with periods of 100 and 200. Reversals in these areas can be a good signal for opening long positions. The market will be ready to return to an upward trend”, – said Lavrov.
IAC senior analyst “Alpari” Vadim is not recommended to make long term investments in Bitcoin, noting “nature bubble” and high volatility. According to experts, these factors make asset the most attractive for short-term investments, but in the near future the rate may drop to $7400.
Read takeastand predicted the death of the dollar and the dominance of bitcoin
“At the moment, the bitcoin price has already broken the support at $9600 and fell below $9300. We believe that the nearest target for decline will become the level of the beginning of June to around $7400. The highs bitcoin, followed altcoins is possible. However, these UPS and growth targets to predict will not, for bubbles is a very little predictable”, – said the expert adding that the first cryptocurrency is unlikely to again reach $20 000.