Bitcoin at 3000? A new crisis will hit the cryptocurrency rate

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In the summer, bitcoin began to skyrocket. At the end of June, it approached the $ 14,000 mark, but failed to gain a foothold and began to fall again. By the end of July, the rate dropped below the psychological mark of 10,000. A crisis began on the crypto market. Investors hoped that digital currencies would rise in price after the launch of the Facebook project for the Libra cryptocurrency. But then Donald Trump expressed his opinion about him. He criticized both Libra and cryptocurrencies in general. The head of the Fed, Jerome Powell, was of the same opinion. These statements dashed the last hopes of the optimists. The regular news about hacking of crypto wallets and theft of coins from crypto exchanges also affected. — The previous growth was due to the artificial pumping of demand for bitcoin, — says the vice-president of the Russian Association of Cryptocurrencies and Blockchain (RACIB) Valery Petrov. — It stopped immediately, as soon as the speculators achieved the values they needed and began to take profits. It is clear that the distribution of bitcoin among large holders allows manipulating the market, which we have seen in the last two or three months. Even small fluctuations in supply / demand significantly affect the value of the coin. Bitcoin is moving towards the usual range of 3000-6000 dollars, says Gennady Nikolaev, an expert at the Academy of Finance and Investment Management. At this level, he kept the entire second half of last year and at the beginning of this. — Of all the possible growth drivers that are now being actively discussed in the community, it is worth seriously considering only halving (reducing the remuneration of miners for a mined block from 12.5 coins to 6.25 coins), says Gennady Nikolaev. — And even then not because of the emission limit, but because of the banal speculations on the upcoming event. In the next month, the bitcoin bubble will continue to deflate, says Vadim Iosub, a senior analyst at the Alpari information and analytical center. According to his forecasts, by the beginning of August the cryptocurrency will fall to 9000, and by the end of the month — to 7400. Leading analyst of Business Insider LLC Anar Ismailov also believes that the rate will drop to 9000. However, according to his estimates, Bitcoin will be at the same level fluctuate for a month. In his opinion, the reason for the fall in cryptocurrencies could be the exit of a large player from the market. The analyst does not exclude that the big speculators are the same financiers who are selling high-risk assets amid the instability of the global economy. “In August, bitcoin may still rise to 12,000, but closer to autumn it will still fall below 5,000,” says Evgeny Udilov, head of the education department of the Phoenix Institute for Trading and Investments. — So now there is still a good opportunity to sell bitcoin, which many are doing. These are the investors who waited out the winter in the hope of selling cryptocurrency either with minimal losses or with a small but profit. In the future, the market will decline. The crypto industry is still being persecuted by regulators: look what difficulties and obstacles even Libra faces from the Ministry of Finance and Congress. But this is a project of such a giant as Facebook. However, RACIB believes that it is too early to write off bitcoin. According to the forecasts of the executive director of the association, Alexander Brazhnikov, in August-September it will remain at the values of 11,000 — 12,000 dollars per coin.

Source: https://life.ru/1231611

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