Bitcoins remain relatively stable at over $ 6,000, with slight variations ranging from $ 6,300 to $ 6,700. But over the past five days, bitcoin has struggled in both fronts between price increases and decreases, mainly due to the low daily volume of Bitcoin.

Commenting on the trend of bitcoin in the next few days, the possibility that in the short term a rally below $ 6,300 would seem more likely than a rally to $ 7,000. Why? The answer is lack of volume.
Still weak

In the past 24 hours, bitcoin's daily trading volume has dropped from $ 4.6 billion to $ 3.9 billion, or 15%. The ether's daily volume, the e-currency of the Ethereum block protocol, has also fallen a large percentage, down more than 31%.

Meanwhile, the daily volume of tether transactions has increased 10% to $ 2 billion, indicating that investors on electronic trading platforms such as Binance have begun to protect the value of assets. Digital big compared to the value of the US dollar through stablecoins.

On July 2, bitcoin prices remained relatively stable in the region of over $ 6,000, recording slight fluctuations in the range of $ 6,300 to $ 6,700. But over the past five days, bitcoin has struggled in both fronts between price increases and decreases, mainly due to the low daily volume of Bitcoin.

In the short term, it is likely that the bitcoin will fall below $ 6,000. While the upward momentum above $ 7,000 is unlikely at this time. Neither the BTC nor the ETH failed to secure a price surge after a strong rebound.

But in the medium term, if a major break above the downtrend line since the end of December could happen, investors could expect a strong rally. The CEO of BitMEX, Arthur Hayes, said that a major breakthrough in regulations for electronic money or the approval of digital assets was publicly traded, which would likely cause bitcoin and the entire market. Crypto guarantees a big rally in terms of price increases.

CypherSpook, a bitcoin analyst, said bitcoin prices could reach $ 50,000 by the end of the year, similar to Arthur Hayes's prediction, "Bitcoin prices will outpace declines since December. last year and a spike in volume. "
Volume is a top concern

In the past bitcoin, the price of the BTC increased back to the main support at $ 10,000 and $ 12,000, the volume of BTC easily exceed $ 7 billion and fluctuate around from $ 9 to $ 10 billion.

However, it has been past, at present, the volume of the BTC is struggling to maintain over $ 4 billion and it is showing a mass equivalent to the volume of Tether (USDT). While most investors remain convinced that the price of the MOF will rise significantly in the fourth quarter of 2018, it is difficult to forecast when the market is likely to start the next bull run, due to the uncertainty. Daily trading volume of the market.

Similar to the correction in 2014, the entire crypto market will need to undergo a stabilization and recovery phase, before rising to $ 500 billion in November. And so, the full recovery November and December will likely take at least a few months, even if countries around the world accept electronic money, as well as a major change in the legal framework for electronic money.