George Shnurenko

Positive Monday For Bitcoin Price, LTC, NEO, Monero Still Negative

Bitcoin price still has some room for further growth until the closest resistance level
Positive Monday For Bitcoin Price, LTC, NEO, Monero Still Negative

Bitcoin is starting the week positively as bulls got a momentum. The Bitcoin price still has some room for further growth until the closest resistance level. Litecoin and NEO follow almost the same scenario. As for Monero, the cryptocurrency seems to remain under pressure.

BTC/USD

BTC/USD still goes upwards on the Daily chart as it fluctuates along the upside trend line and is testing it today. Depending on the results of this testing, BTC/USD is likely to either fall below the trend line, looking for a major support line, which lies around 7,000 area or to resume its growth towards the resistance line, which is close to 11,500 level.

Generally, BTC/USD price fluctuates within a large horizontal channel established by the above-mentioned support and resistance levels. There are no candlestick signals currently.

As for the Ichimoku indicator, Bitcoin price went above the upper side of the cloud demonstrating bulls commitment to change the tendency and reach the closest resistance line in the medium term. However, BTC price returned to the upper Ichimoku cloud line in order to test it (which is natural for this kind of indicator). If the line resists and gives support to Bitcoin price, bulls will probably have a good chance to reach their mid-term goals. Otherwise, bears have a chance to gain momentum again.

As for the hourly chart, BTC/USD still has the same direction, going along the upside trend line. There were two chances yesterday to open short-term long positions from the trend line. Bitcoin price has a correction now as we can see the Shooting Star candlestick pattern. We expect the correction last until the upside trend line, where BTC price is able to reverse again towards the resistance line, which is close to the 9,500 area.

As for the Ichimoku indicator, BTC/USD is below its cloud but is likely to meet it today. If Bitcoin price enters the cloud, there will be opportunities to trade from its borders (channel trading).

LTC/USD

Litecoin goes the same direction as Bitcoin does, but Litecoin price is close to the resistance line. Bulls were trying to assault the resistance at 180.00 last week, but they had no luck and enough power to break through this line. Litecoin price jumped off 180.00 and went towards the upside trend line, where it stays now, waiting for bulls and bears to take active steps. If LTC price breaks through 180.00, the next midterm target will be close to 240.00 area.

As for the Ichimoku indicator, Litecoin price resides within the cloud and rejected its upper side. Now it has two ways- to go downwards and to test the lower side or try the upper side again (the trend line may support bulls and help them to stop the correction, which is clearly seen on the chart at the moment).

The situation is favorable for short-term bulls as LTC price goes along the upside trend line and rejected it twice already. However, there is a high probability for a downside correction now, which is able to aim the upside trend line. The closest target for LTC/USD on the hourly chart is 171 area, where the resistance line lies.

When we look at the Ichimoku indicator, we can see that the bulls still try to break the situation and to gain momentum. However, LTC/USD fluctuates below the cloud, which means that bears still have some power. We expect the currency pair to reach the Ichimoku cloud today and to test its lower line.

XMR/USD

Monero is still under the pressure as it fluctuates below the downside trend line. Midterm bears drive the currency pair even further downwards and their next target seems to be close to 175.00 area support line.

Monero shows no sign of a tendency reverse. Monero price has recently jumped off the downside trend line and is slightly going down.

Bulls are able to make a counter attack either now, when Monero price is still close to 250.00 area resistance line or close to the 175.00 support line area.

As for the Ichimoku indicator, Monero fluctuates within the cloud. Monero price rejected the upper side and is going downwards to test the lower line which is also not far from 175.00 level.

Monero price is close to the resistance on the hourly chart. Bears still have power as they do not allow bulls to make any further steps above 235.00. However, if we take a look at the whole picture, we can see a kind of reversed head and shoulders formation and if it is real, we are in the neckline area now. The next resistance area will be close to 242.00 level.

Monero enters the Ichimoku cloud but does it quietly, with no momentum. Short term traders should pay attention to what is going to happen in the nearest future. If Monero goes through the Ichimoku cloud, it may gain momentum and reach 242 area even today. As for the alternative scenario, Monero price is able to reverse towards the lower line of the Ichimoku cloud.

NEO/USD

The currency pair went above the support line but is still testing it. NEO/USD is currently trying to go upwards as it has started an upside tendency on April 2018. If the test of the support line results in nothing, we expect the currency pair to go further towards the resistance line, which is close to 114 level.

NEO price stays within the Ichimoku cloud and is quiet. The volatility is low. There are no clear signals currently.

Short term NEO/USD traders may rely on profits from long positions, as NEO price continues to go upwards and has already broken through the resistance level at 80.00 area. The next target lies higher close to the 84.00 area (current resistance level). Bears still able to test the support line but bulls look stronger at the moment as they have gained momentum already.

NEO/USD is able to meet the lower side of the Ichimoku cloud in the nearest future. Here NEO price may stay for a while or may skyrocket higher beyond the cloud. In the second case, we can see NEO/USD touching resistance level even today.

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Andrew Strogoff

Bitcoin, Ethereum, Ripple, EOS, NEM Grow, Bulls Smash Bears and Drive Markets Higher: Price Analysis July 2

Bitcoin and altcoins grow sharply, bulls finally make their counter attack
Bitcoin, Ethereum, Ripple, EOS, NEM Grow, Bulls Smash Bears and Drive Markets Higher: Price Analysis July 2

Buyers have finally made something significant as the whole crypto market rose Saturday. There was a kind of correction phase Sunday, but there are signs of further growth that may happen Monday.

We think that the main reason for such a growth is the fact that Facebook has almost totally changed their minds towards cryptos. We have already mentioned in our previous reviews that Facebook administration is going to accept crypto ads.

Additionally, Facebook is going to acquire Coinbase and issue its own cryptocurrency. This U-turn may be the beginning of huge changes within the community.

As for news, Russia has delayed crypto law adoption putting it off until the end of summer. Russian policymakers asked for more time to make their decisions.

Bitcoin (BTC/USD) Price analysis, July 2

btc

Bitcoin has added less than one percent in the past 24 hours, but the most important events happened on Saturday, when BTC price made a huge upside burst breaking through a couple of resistance areas. BTC/USD seems to finally find its support and thanks to news from Facebook the whole crypto market is positive currently.

btc Looking closer at the hourly chart we can see that BTC/USD has jumped over the resistance areas at $6,071 and $6,329. The currency pair stays above $6,329 in the moment of writing, we have a clear flag pattern, which means the probability for Bitcoin to develop its upside tendency.

We think that BTC/USD is going to grow higher targeting the closest resistance area at $6,510, where we have put the green flag. If buyers successful there, they will be able to drive the currency pair even higher targeting the next resistance at $6,943.

The less probable way for BTC/USD is to fall down towards the next support area at $6,071. The flag pattern will be broken in this case.

Ethereum (ETH/USD) Price analysis, July 2

Ethereum

The whole crypto market celebrates Facebook decision as Ethereum has made his way upwards on Saturday following Bitcoin. ETH/USD has almost no changes in the past 24 hours, but the momentum during the weekend was huge. The currency pair seems to change its moods to positive.

Ethereum

When we look closer at the hourly chart we can see that Ethereum has crossed $417.28, $431.42 resistance areas and is currently testing $453.24 resistance area. We have a flag pattern here as well-meaning bulls have chances to drive the currency pair even higher, targeting the next resistance at $473.29.

If buyers will be able to reach this green flag area, they will test it and once successful, they will be able to drive ETH/USD higher.

However, we advise paying attention to the red flag as well. If the flag pattern fails to develop, ETH price will fall towards the support area at $431.42.

Ripple (XRP/USD) Price analysis, July 2

ripple

Ripple has added more than one percent in the past 24 hours. The currency pair changed its moods on Saturday following important news from Facebook as famous social media makes a U-turn towards cryptos. Ripple has found support finally. The currency pair looks positive and is able to develop its success.

ripple

When we look closer at the situation on the hourly chart we can see that Ripple has jumped over the resistance area at $0.4495 and tested the resistance area at $0.4744. The currency pair forms a flag pattern currently meaning there are chances for buyers to develop their progress in the nearest future. We have set the next target for Ripple at the resistance area at $0.4918.

XRP/USD needs to jump over the closest resistance at $0.4744 naturally in order to get our short-term bullish targets. However, if buyers fail, bears will be able to take control and push XRP/USD lower, targeting the next support area at $0.4232.

EOS (EOS/USD) Price analysis, July 2

eos

EOS followed its rivals during the weekend showing growth towards the next resistance area. The currency pair seems to change its moods and is able to develop its upside progress in the nearest future. However, in contrast to other allies, EOS seems to stay within the large range.

eos

Let’s get down to the current situation on the hourly chart. EOS price forms a flag pattern meaning buyers have chances to develop their upside success. EOS price has jumped over the resistance area at $7.65 on Saturday but was stopped at $8.29 on Sunday.

We have placed our green flag at $9.03 as we think this is the next closest target for EOS/USD in the nearest future if buyers are able to jump over the closest resistance at $8.29. However, if the flag pattern breaks, EOS price is likely to move toward the red flag at $7.10 support area, meaning EOS will return to its local lows.

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NEM (XEM/USD) Price analysis, July 2

nem

NEM’s buyers celebrate Facebook administration decision as well. XEM price jumped off local lows on Saturday and went upwards. The situation changes to bullish as NEM looks promising.

nem

Having a closer look at the hourly chart we can see that the currency pair has crossed the resistance areas at $0.1529 and $0.1682. XEM/USD is likely to move towards the next bullish targets at $0.1873 where we have placed our green flag. This is the main scenario for the nearest future.

However, if XEM/USD falls below the current support area at $0.1682, there will be a probability for NEM to reach the local lows at $0.1459 again (the sellers need to jump over the closest support at $0.1529 in this case).

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Vaido Veek

BTC Bearish Breakout, NEO Between the Trendlines, XEM On the Upwards Channel: Price Analysis, Oct. 3, 2018

Bitcoin made a bearish breakout, NEO is between the two important trendlines, NEM looks good compared to other altcoins
BTC Bearish Breakout, NEO Between the Trendlines, XEM On the Upwards Channel: Price Analysis, Oct. 3, 2018

*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin made a breakout downwards from the triangle

Yesterday we got a breakout from the triangle. It was enough that the four-hour candle closes below the trendline, below the EMA's and the movement downwards be able to continue. This was almost a perfect breakout trade, we got a candle close below the triangle trendline. In the one-hour time frame, BTC price made a retest and bounce-back after it touched the breakout area.

The daily candle close was above the $6,500, but currently, on the four-hour chart we have a close below the round number, and the price is again on the strong support area (blue line). Last week this area played a significant role when we discovered the "Inverted Head & Shoulders" pattern, and again we are 'hanging' above $6,460, and the bulls hope that the strong support level holds the price. If it breaks (four-hour candle close below the line), then it will probably mean that the bearish momentum will continue and the next stop is around $6,330-$6,350. There is currently the major counter trendline since Sept. 8. If we fall even lower, there are two strong support lines which will stop the price. To stay on the market is a bit risky because we don't know how strong this bearish momentum could be. However, the breakout from the triangle and candlesticks layout indicates that we might see another leg downwards (confirmation is the candle close below the blue line at $6,460).

NEO (NEO/USD) is between the triangle trendlines

NEO has been respecting both triangle trendlines. Recently, it tried to break above the upper trendline which works as a resistance but didn't manage to push through from there. There were several attempts to break through the bottom trendline which is also the major counter-trendline (it works as a support), but this level has held us pretty nicely.

Currently, as BTC breaks through the round number area, NEO breaks below the strong support area, which has been historically a good support and resistance level. Now, NEO price is on the on the edge, at the moment this is our last support before the September low level at $16.15. If NEO price drops below that strong trendline, then the next critical zone is the September low where we have to watch what BTC does. So, currently, if BTC drops below the $6,469, then NEO drops below the major counter trendline (counter, because the overall trend is down).

To be bullish:

1. This trendline has to hold the price

2. We have to break above the strong area (blue line)

3. We have to break above the triangle upper trendline (trendline and the blue line makes a crossing area so, this level is very hard to beat).

If it happens, then the first target would be the round number $20 and the strong area at $20.7

NEM (XEM/USD) is technically good compared to other alts

Currently, NEM is trading on the channel. It has been respecting those channel trendlines, and it has made pretty good profit opportunities. (after we mentioned that XEM will explode, it made a 27 percent gain)

After BTC broke out from the triangle downwards, XEM has also come down pretty quickly but it is still on the channel, and it has an opportunity to make the higher low. At the moment, the price is a very strong support area, support criteria:

1. The round number $0.1, which works as a support

2. EMA 200 is exactly on $0.1, and it also works as a support

3. The Fibonacci golden ratio 62 percent matching with the criteria mentioned above

4. Plus if we drop just a little bit lower, then there is the 50 & 100 EMA's and the channel bottom trendline

So, currently, we think that if we see a break and close below the round number, then it's the first sign that NEM might go downwards, and the full bearish confirmation would be when we see a candle close below the trendline.

If BTC finds the support from the current level at $6,460, then NEM has technically a very good platform to go higher levels, but it all depends on what Bitcoin does.

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Andrew Strogoff

Bitcoin, Ethereum, Ripple, EOS, NEM Remain Flat, No News to Shake Markets: Price Analysis, June 28

Bitcoin and other cryptos remain flat, but the situation may change at any moment
Bitcoin, Ethereum, Ripple, EOS, NEM Remain Flat, No News to Shake Markets: Price Analysis, June 28

What a terrible week for crypto traders! After establishing new lows, the price remains flat as market participants seem to have no idea where to drive cryptocurrencies. The good news here is that there are no eternal flats, buyers and sellers will have to take steps in the nearest future and break the balance. The bad news is that nobody knows currently the possible direction of a new trend.

As for the news and events, there are some interesting ones that are worth your attention. The latest UK research shows that young men and women prefer to invest in cryptos and shares rather than buying property even when the price of assets is too volatile. Young generations do not consider property as a safe way to save their money.

Bitcoin is treated as one of the most convenient source for investments as one can buy the cryptocurrency from his or her mobile.

Another interesting news comes from Facebook. The famous social media is ready to accept crypto ads, but advertisers need to make an application in order to prove its eligibility to Facebook’s administration.

Bitcoin (BTC/USD) Price analysis, June 28

BTC/USD Hourly General

Almost no gains and no losses for Bitcoin in the past 24 hours. However, the general situation remains bearish as BTC price is below the descending trend line. There was nothing interesting in Wednesday’s fluctuations, but market players hope for better days in the nearest future.

BTC/USD Hourly Closer

Let’s zoom in to the current situation on the hourly chart. As we have previously mentioned, Bitcoin price reached the resistance at 3.618 after testing 4.236. Bitcoin remains within this range. BTC price is below the descending trend line but is likely to test it in the nearest future. The possible ways for BTC/USD are the following:

1.    Red scenario (bearish). The currency pair will test the support area at 4.236 and if successful, the price will develop its downside progress.

2.    Orange scenario (neutral). This is the most likely scenario for Thursday if there is no important breaking news. BTC price will stay within the current range without significant changes.

3.    Green scenario (bullish). Bitcoin will cross the descending trend line and the resistance at 3.618, targeting the next resistance at $6,510.

Ethereum (ETH/USD) Price analysis, June 28

ETH/USD Hourly General

Ethereum “feels” a bit better than Bitcoin does, but the currency pair still has no clear direction as it fluctuates within a range on the hourly chart. Ethereum price is above the descending trend line meaning the downtrend has ended, but bulls are unable to take control over the market.

ETH/USD Hourly Closer

What can we see on the hourly chart zooming in to the price? Ethereum tried to go lower on Wednesday, but ETH price failed to confirm the breakout of $431.42. ETH/USD fluctuates close to this level currently. The possible scenarios for ETH/USD are the following:

1.    Red scenario (bearish). The currency pair will break through the support area at $431.42 to move lower, targeting the next support at $417.28.

2.    Orange scenario (neutral). This scenario is likely to be the winning one today as we expect ETH price to stay within the current price range. We also think that it is able to move towards the upper side of the range at $453.24.

3.    Green scenario (bullish). If buyers have enough power, they will be able to jump over $453.24 targeting the next resistance at $473.39.

Ripple (XRP/USD) Price analysis, June 28

XRP/USD Hourly General

Ripple has added almost two percent in the past 24 hours, but still looks neutral as the price is within the range without any direction. Ripple price is above the descending trend line meaning bulls have chances to change the situation in the nearest future.

XRP/USD Hourly Closer

When we look closer at the situation on the hourly chart we can see that Ripple is trying to test the resistance area at $0.4744, but still in vain as XRP price retreats from this level. Even though Ripple looks bullish now, it has to jump over this resistance in order to develop its upside progress. The possible scenarios for XRP/USD are the following:

1.    Red scenario (bearish). The currency pair will move towards the closest support to test it. If bears are able to move below $0.4495, they will develop their downside progress.

2.    Orange scenario (neutral). This one is the most likely for Thursday as we think Ripple price will stay within the current range without significant changes.

3.    Green scenario (bullish). Ripple will jump over the resistance at $0.4744 to move higher targeting the next resistance at $0.4918.

EOS (EOS/USD) Price analysis, June 28

EOS/USD Hourly General

EOS has almost four percent in the past 24 hours being a true leader of the top 20, but in general, the currency pair shows no direction on the hourly chart. It is consolidating currently. EOS price is above the descending trend line.

EOS/USD Hourly Closer

When we zoom in the hourly chart we can see that Ripple has tested the resistance area at $8.29 again on Wednesday but failed to jump over it. The price remains neutral and approaches the support area at $7.65 in the moment of writing. The possible ways for EOS/USD are the following:

1.    Red scenario (bearish). EOS will make a breakout of support area at $7.65 and move lower targeting the next support at $7.10.

2.    Orange scenario (neutral). We think that this one is the most probable for Thursday as EOS price is likely to stay within the current range.

3.    Green scenario (bullish). EOS/USD will jump over the resistance at $8.29 and move higher, targeting the next resistance at $9.03.

NEM (XEM/USD) Price analysis, June 28

 XEM/USD Hourly General

The currency pair remains almost unchanged in the past 24 hours. There is no trend currently on the hourly chart as NEM is consolidating. XEM price is above the descending trend line.

XEM/USD Hourly Closer

Let’s look closer at the hourly chart and the price. NEM has tested the resistance area at $0.1539 but failed to jump over it and stays close to this level in the moment of writing. The possible ways for XEM/USD are the following:

1.    Red scenario (bearish). The currency pair will decline towards the closest support area at $0.1459. We think that this is the most appropriate scenario for Thursday.

2.    Green scenario (bullish). XEM/USD will jump over the resistance at $0/1539 targeting the next resistance at $0.1682.

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Bitcoin Price Falls to $9,400 But Monday Promises Recovery As Altcoins Outperform Bitcoin

Smooth landing: cryptocurrency market continues to fall, but the rate is decreasing.
Bitcoin Price Falls to $9,400 But Monday Promises Recovery As Altcoins Outperform Bitcoin

Last weekend was another nerve-racking one for cryptocurrency investors: the market continued to fall, although the rate of asset price decline slowed significantly compared to the middle of the week.

On Sunday we watched again as the bulls timidly attempted to change the situation, but their indecision precluded a clearly defined turnaround. So now, by the beginning of Monday, some positions have finally “turned green,” while total market capitalization grew to $435 bln, which is $15 bln higher than on Friday.

Good trading volumes are vital for reversal

Common sense does not allow us to declare a full reversal of the bearish trend just yet, but our regular readers know that the first signs were already noted a few days earlier. Now, the issue of principal concern is that of trading volumes, which are not manifesting yet.

The market continues to be carried down by momentum, and support can only come from buyers with renewed strength. Perhaps help can be expected from China, where the New Year celebration is coming to an end.

Altcoins outperform Bitcoin

Analysis of the top 10 currency prices allows us to draw the following conclusions: altcoins are again attempting to show a quicker turnaround than Bitcoin, the price of which hardly changed during the day and stays around $9,600.

Litecoin is in first place with a gain of 13 percent. February has been eventful for this asset: its hard fork was completed a week ago, and the launch of the payment system LitePay, which we discussed earlier, is planned for the end of the month. The coin stays in the news cycle, which helps its growth.

Cardano is in a distant second place, having grown by five percent, and the trio of leaders is rounded out by NEO, with two percent growth. It seems that investors are losing patience and while Bitcoin is cooling its heels, they are shifting attention to other assets. This is a sure sign that the market is ready for a trend change. And there’s no reason to be concerned about Bitcoin; it will definitely regroup in due time.

BTC/USD

The framework we sketched out earlier remains relevant. We can see that the $9,400-$9,600 zone has become a tangible obstacle for bears, and even after breaking through the resistance it returned again to the upper boundary of the range. Another piece of good news, the recent downtrend from Feb. 20 has been broken and can no longer constrain buyers.

pic

At the time of writing, Bitcoin price movements are forming the “bullish pennant” figure, in case of its activation, the critical resistance level at the boundary of the long-term descending channel could be re-tested. However, first, it will have to overcome the mirror level at $10,500 which halted growth over the weekend. We estimate the odds of moving to growth as three to two. In case of negative developments, the next support is located at $8,900-$9,000.

LTC/USD

Litecoin has become a frequent guest in our reviews, but we cannot ignore it, the price fluctuations and the attention of the crypto community are too significant. The reversal combination of Japanese “hammer” candles worked perfectly on Friday, Feb. 23 and prices did not fall below $182. Over the following three days, prices rose by 25 percent and now the asset is trading around $230. In an unstable market, such buyer perseverance indicates the great investment potential of Litecoin.

pic

The first prospective growth target is $250, which coincides with the previous high for the last month. It is followed by $280, indicated by the 2.618 Fibonacci extension, based on the correction of Feb. 5-6. Finally, the third target is located in the $300 zone, formed by the 1.618 level of the "fresh" Fibonacci grid. The nearest resistance on the way to the indicated targets can be encountered at the boundary of the $235-$240 range, where the strong mirror level is placed. Reliable support is on the boundary of the ascending channel. Given the support that Litecoin has received from buyers recently, increasing long positions in limited volumes can be considered from the $208 level.

ETH/USD

If we were asked, which asset is most inclined toward triangle formations, we would certainly choose Ethereum. And now, the charts are showing a bullish triangle, the activation of which can push the price to $920. Meanwhile, ETH is preparing a springboard for further growth at the $840 mark, where the maximum volume of trades has been made over the last few days.

pic

The nearest resistance is located on the boundary of the younger descending channel and approximately coincides with the $880 mark. We believe that if the global market reversal is confirmed, overcoming this resistance will not be impossible for buyers. In the event of negative developments, price supports can be expected at the level of $820, mentioned earlier, as well as $790.

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Bitcoin’s Sunset and Sunrise Within a Year. What Happens Now?

This November is different as BTC’s price has plummeted to the recent level of $3,800 from around $18,000 in January 2018, having lost about 78% of its value
Bitcoin’s Sunset and Sunrise Within a Year. What Happens Now?

Bitcoin had an amazing price action in November of 2017, as its price went from $5,300 in early November of 2017 to almost $12,000 by end of November 2017, and one month later during December 2017, the price reached its all-time high around $20,000.

This November is different, though, as its price has plummeted to the recent level of $3,800 from around $18,000 in January 2018, having lost about 78% of its value. So, from sunset to sunrise, in this article we will analyze the main factors that caused this huge decline on a yield-to-date basis.

Bitcoin’s Monthly and Weekly Charts

Bitcoin’s Monthly and Weekly Charts

Bitcoin’s Monthly and Weekly Charts

Top Factors Influencing Bitcoin’s Price and Value

  1. There is not an easy way to calculate the intrinsic value.
  2. Taxation and regulatory challenges.
  3. Artificial, very large demand for energy, environmental issues.
  4. Economic effects and slow transactions.
  5. Long-term security concerns of its hashing algorithm and huge transaction fees.
  6. Security concerns against theft.
  7. Not an easy way for financial transactions to people who are technologically-savvy
  8. Requires knowledge about computer security
  9. It is slow and not very practical in daily retail transactions
  10. Lack of protection against fraudsters, scalability problems

What are the business prospects of Bitcoin now?

This collapse of Bitcoin’s price within one year reflects the change in the perception of investors, traders, and business acumen about the true prospects of the cryptocurrency. Its main competitive advantage includes being the first decentralized online digital currency and no need for a central bank. An alternative to traditional fiat currencies has failed to persuade the global investing and financial community so far, and this is solely based on its price reflecting the supply and demand levels.

The main concept that Bitcoin would be a revolution or an evolution in the global financial system has yet to materialize, and it is now very uncertain whether this scenario will ever occur.

Lack of regulation creates a very risky business and financial environment

The lack of regulation and very volatile trading price action makes Bitcoin not a suitable form of investment for many types of investors or investment funds. “Due to the lack of regulatory oversight, scams and market manipulation are commonplace.”

Legislators have a lot of work to do to avoid any fraudulent situations in the future, and due diligence in an extensive form is a requirement in the cryptocurrency market for a sophisticated investor.

What is the key problem for Bitcoin?

All the mentioned factors are very important for the future of Bitcoin. But the transition from its sunset to its most recent sunrise is due to one major factor, related to business and economic reasons: Its lack of broad acceptance and ease of use in daily business and retail transactions.

The elementary economic law that explains at first the price of any financial asset is the law of supply and demand. As of January 2018, and up to now, history has shown that there is excessive supply and no demand for Bitcoin. Technical analysis reflects this fundamental principle. For Bitcoin to move to significant price levels, this imbalance between supply and demand must change. Otherwise, any rallies will be vulnerable to speculative trends and profit taking.

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