The market of cryptocurrency this week had a strong impact. All the leading digital assets fell, some by more than 15%. However, this is not the end of the bearish trend, the depreciation will continue.
For all traders who used technical analysis, the collapse of the cryptocurrency market was not a surprise. Indicators pointed to a bearish trend, however, its power and speed has surprised many. The price of Bitcoin fell 10% in just a couple of hours, the reason for such a sharp drop is unknown. It is logical to assume that we are witnessing the implementation of a planned scheme of dump.
What to expect in the future?
If the Bitcoin exchange rate until the end of this week, not to exceed $6.000, then the downward trend will continue. As long as the price of BTC is less than $6.500, the market would be dominated by bearish trend. Let us recall the euphoria in December 2017, when BTC rushed to the historical high of $20.000. Now the situation is reversed, and the dynamics of the course, and the mood of investors.
None of the technical indicators do not indicate a change of trend in the near future. Wait for a miracle does not make sense, we suggest to sell Bitcoinuntil the price of the coins fell even more. The only factor that can have a positive impact on the value of Bitcoin is the exchange traded funds (ETFs). But the resolution on their opening will be received until early 2019, so the fracture line of the bearish trend this year is not going to happen.