Over the last 5 days, from February 1, cryptocurrency market has remained relatively stable at about $114 billion, and the price of bitcoin has stabilized at $3500.
Some analysts expected that the bitcoin will recover to the resistance level of $4000 after a rebound from low in the region of $3,300.
The main cryptocurrency was trying to show signs of short-term recovery and experienced three months of consecutive sales.
Well-known cryptocurrency trader Crypto Dog said that as the market reaches the final phase of the bear market, it may be reduced to the lowest levels.
The trader said it would not surprise price of $1800 BTC and $50 for ETH, which is a 50% decline from current prices.
I was not surprised rates $1800 per BTC and $50 for ETH. I don’t know whether we will reach such prices or not. If you keep the PTS for a long time, DCA. If you learn to trade, just to survive. Keep your risk low, profit will ever be easier
Some of the traders admitted the possibility of reducing the prices of bitcoin to $1200, then he would have been decreased to max 2013.
But, considering both technical and fundamental factors, additional decrease of 65% after bitcoin suffered an 83% drop is unlikely.
As he said Dan Morehead (Dan Morehead), CEO of cryptocurrency hedge Fund Pantera Capital, the fundamental basis of the cryptocurrency sector has improved significantly over the past few years.
The largest financial institutions in the world, in particular ICE, Nasdaq and Fidelity, are moving to strengthen the infrastructure and will support the new asset class.
Potential catalysts such as the possibility of the entrance of institutional investors into the cryptocurrency market in the second half of 2019 through proxies of custodians, such as Fidelity and Bakkt, unable to prevent the bears to reduce the bitcoin to the levels of 2013-14.
For many years everyone is talking about the coming wave of institutional money that will go into the cryptocurrency markets, and I think that now we have the necessary conditions for this. Institutional investors do want to have a known and adjustable Keeper, and we really did not have a significant name, which would be needed to get institutional investors.
In December, Crypto Dog argued that while bitcoin will remain in the range of $3000 to $5400, the cryptocurrency market is still will be on the final stage of a bear market.
Traders such as mark Dow (Mark Dow) suggest, when the PTS will be key resistance levels above $6000, then only can be confirmed a trend reversal.
Even after the establishment of the proper bottom, it is expected that bitcoin will take several months of consolidation, which may leave the asset relatively stable in the low price range until the second half of 2019.
Experts and industry executives believe that crypto-winter will last from 12 to 24 months, possibly before the end of the year.
Some, including Ethereum co-founder and founder of Cardano, Charles Hoskinson (Charles Hoskinson), had previously stated that bitcoin may need to wait more than ten years to recover up to $20,000.
A positive indicator in a bear market is the high level of activity in the sector.
Recently, on 4 February, cryptocurrency exchange Kraken has been carried out?? multi-million dollar deal in the cryptocurrency sector. She acquired Crypto Facilities worth more than $ 100 million to offer futures and index products as a fully regulated operator in Europe.
The company also intends to conduct a funding round to raise $4 billion, officially becoming the second billion-dollar cryptocurrency company Coinbase after.
Binance is estimated at nearly $10 billion after reaching a net profit of $1 billion in the first quarter of 2018, but until its official capitalization remains unsolved.