The short-term future of bitcoin explained by analysts

The short-term future of #bitcoin explained by analysts

According to the site #CoinMarketCap, which evaluates the average price of cryptocurrency on more than 20 stock exchanges, at the end of Sunday trading bitcoin rose 3.74% to 6,874 dollars. At the largest currency exchange, Binance, bitcoin has risen by 3.32% to 6,748 dollars.
Artificial transactions

Several experts have pointed to the decline in interest in bitcoin trading by some investors and the likelihood of "artificial transactions" in #cryptocurrency.

"Retail investors are losing interest in the market as they grow in institutional investors," says Igor Zartdinov, head of Enigma and co-founder of the ICG cryptocurrency fund.

For example, the European Investment Fund announced that it would start working with cryptocurrencies, Switzerland is currently working on the proposal of bank accounts to companies working in the cryptocurrency sector, while Malta is studying the blockchain industry regulation.

Constantin Ordov, professor at the chair of financial management at the Russian University of Economics Plekhanov, discusses the probability of artificial transactions. "The apparent calm on the bitcoin market is an excellent camouflage for the actual scale of operations with cryptocurrencies. In recent days, bitcoin quotes have been limited to the $ 6.400-6.800 range, "he says.

The analyst of Alpari Vladislav Antonov is of the same opinion. "There are no buyers, otherwise the price would already exceed $ 8,000. I think that the actors involved are using upward fire (via robots) to intimidate the sellers so that they do not aggressively sell bitcoins, "he thinks.
A moderate rise

Igor Doganov, chief analyst of Tokenbox and portfolio manager at The Token Fund, notes that last week had "attempts to assert itself at the level reached during the retreat," and that the price of bitcoin approached the resistance level of $ 6,800.

This is also the opinion of Vladislav Antonov. "According to Alpari's estimates, the market will not be ready for a rally above $ 7,000 before July 17 ... The price has come up against the resistance of $ 6,800 - the maximum of June 20. To fly to 7.800 dollars and more, the price must be corrected, "says the expert.

Igor Zartdinov points out that the cryptocurrency market is currently showing "some stability, even if it is at a relatively low level of $ 6,700 the BTC". "If, at the end of last year, the normal price of bitcoin was 12,000-14,000 dollars, today is half the price, so do not look for a fair price. There is a price for which you are willing to buy or sell, and the current price reflects it, "he says.
"Now the market has the opportunity to surpass the $ 7,000 bitcoin mark to reach the goal of $ 7,500. But keep your hand on the pulse because the market remains fragile, and in case of slight negative movement everyone starts selling short because the bitcoin is not yet out of the downward trend Adds the expert.

Timofeï Fortounatov, director of communication for Tugush Blockchain, also thinks: "Bitcoin is likely to maintain its cautious rise in the coming days."

"I think users have started to receive more negative news on the market more calmly, viewing it as a pretext for thinking and not for panic. Knowing that the rise of bitcoin above 6,500 dollars in the beginning of last week has left hope for continuation of the positive momentum ... I think that this lateral trend is likely to continue this week in the absence of any very positive information. or negative on the market, "he says.

The prognosis of Constantin Ordov is less positive. According to him, there is little indication for the moment of an upcoming rise in the price of bitcoin. "This week could continue with a consolidation for bitcoin, but below $ 6,400, because the bar of $ 6,700- $ 6,800 can not be crossed," he assumes.