Bitcoin

The Bitcoin (BTC) rate will reach a minimum of $ 5,700 in the short term before recovering

Recognized in the world of a digital currency analyst of digital assets, Willie Wu recently said that the bitcoin (BTC) rate is likely to fall below $ 6,000 in the short term. Since mid-May, bitcoin has faced difficulties in testing an important support level of $ 10,000, all kriptonok as a whole continues to fall. Most of the tokens and small crypto-currencies followed the price trend of bitcoin and ether.

On May 25, Wu noted that the bitcoin (BTC) rate could settle below $ 6,000 and test $ 5,500 - $ 5,700 within the long-term support level. In past reports, it was noted that the threshold $ 6,500 is an important level of resistance, from which BTC was able to rebound since the beginning of January. In the short term, it is likely that bitcoin will fall below $ 7,000 and test $ 6,500, failing to keep above this level is likely to push BTC to the lower $ 6,000, and potentially to the upper $ 5,000 limit.

In October 2017, after almost doubling during the 3-month period, the bitcoin rate reached $ 5,700. Nevertheless, now kriptonok significantly differs from October. The volume of orders has become much larger, while the infrastructure of companies such as Coinbase and Gemini is unprecedentedly larger than the platforms that existed in early 2017. Given the differences in volume and structure of the market compared to 2017 and the past, Wu and other analysts agree that the next bull rally or the growth cycle could return to the third quarter of 2018.