Bitcoin crashed. Where is the cryptocurrency rate heading?

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Last week, bitcoin rose to unprecedented heights this year — the rate approached the $ 14,000 mark. It seemed like an unthinkable achievement, because since last autumn, the cryptocurrency has never tired of upsetting investors. Only in May, Bitcoin was able to return to the values of September last year. In June, the situation changed radically. The crypto market began to grow rapidly. Bitcoin updated one maximum after another and almost doubled in price in a month. And now the crypt is losing ground again, and the rate rushed to the level of 10,000. — Now a correction has just begun on the market, — reassures the vice-president of the Russian Association of Cryptocurrencies and Blockchain (RACIB) Andrey Grachev. — This is an absolutely normal process, since the rapid growth of more than 200% in three months could not be endless. Some players fixed their positions at the level of 12-14 thousand, which caused a decrease in prices. Now bitcoin is actively traded, and a new wave of growth awaits us in the near future. As before, I expect a price of 25-35 thousand this year. However, not all analysts are so optimistic. Bitcoin is, indeed, primarily influenced by the mood of speculators, and they are very volatile. Senior analyst at Alpari Vadim Iosub believes that Bitcoin will not reach the high of last week for a long time. According to his estimates, in the near future the leader of the crypto market will fall to 10,200 and will continue to decline to 7400. A similar forecast is given by Grigory Melkumyan, a trader-analyst at Erarium Group. According to him, bitcoin is aiming at the level of 9-10 thousand dollars and, as soon as it reaches these marks, it will move towards 7 thousand. Leading Forex Optimum analyst Ivan Kapustyansky, in turn, suggests that the fall in bitcoin began after a large player left the market, which began to accelerate the rate of the coin in the spring. True, he believes that in the future, such surges in the crypto market will be repeated (and more than once). “Given the high volatility of the cryptocurrency rate, such bursts of growth and decline are absolutely natural,” said Gaidar Hasanov, an expert at the International Financial Center. — On the other hand, when bitcoin was at its maximum, a purely psychological moment could well have worked. Investors were simply afraid of losing money buying cryptocurrency at such a high rate. This led to a decrease in demand. Now an important level of support for Bitcoin prices is the $ 10,400 mark. If the cryptocurrency can hold on to it, then growth will begin. If not, the decline will continue to 8800. Even if bitcoin drops below 10,000, it will not be long. This opinion was expressed by the expert of the Academy of Finance and Investment Management Gennady Nikolaev. In his opinion, bitcoin will quickly recover from recent losses. He believes that the very fact of the long absence of negative news inspires optimism in traders.

Source: https://life.ru/1226323

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