Can Bitcoin fell below 6,000 USD?

caseystubbs (42)in #steempress • 8 years ago

The Bitcoin value will most likely continue to decline this week and for the first time since November 2017 it will fall below the psychological limit of 6,000 USD, according to experts from the sector. On Sunday, June 17, the price of the cryptocurrency fell by 0.60% to 6,525 USD, according to data from the CoinMarketCap portal. The Bitfinex downgrade was 0.57% to 6,489 USD, in GDAX the decrease was 0.38% to 6,495 USD.

Last week the Bitcoin lost 4% of its price and fell to 6,12 USD on Bitfinex. This is the minimum level reported as of February 6, 2018.

A major event last week, influencing the cryptocurrency, was the decision of the US Securities and Exchange Commission (SEC) not to recognize BTC and Ethereum (ETH) for securities.

"It's unclear why market participants have responded to the news after SEC chief Jay Clayton said this on June 7 in an interview with CNBC", said the analyst of Alpari, Vladislav Antonov. He remembers that on June 9 was the technical launch of the third generation of cryptocurrency EOS. On Saturday, June 16, a "freeze" of transactions at global level was registered. The EOS/USD course then fell by 4.5% and dragged along the Bitcoin.

Last week, the Korean Exchange, Coinrail, reported that hackers have stolen digital money worth over 37 million USD.

Another event with a negative effect last week was Western Union's refusal to work with cryptocurrencies, which was announced in New York by CEO Hikmet Ersek on Wednesday, June 13th.

A favorable event for the cryptocurrency market was the start of trading with Bitcoin, Tether and TrueUSD in pair with a dollar on Friday, June 15th. The service will initially be available to residents of the US states of California, Washington, New York and Montana.

The last week's downward impact on the income came also from cryptocurrency mining, as the profitability does not cover costs.

The experts agree that this week the cost of the Bitcoin will continue to decline and will not just reach, but will fall below the psychological limit of 6,000 USD.

Posted from my blog with SteemPress : http://financeandmarkets.com/can-bitcoin-fell-below-6000-usd/

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