Analyst ICB Fund: Bitcoin will continue to look for an equilibrium in the range of $ 30-42 thousand. Look at least a month


The cryptocurrency market is well held, but the re-test of the minimum on May 19 remains the main scenario of the development of the situation. While Anthony is recipient with reference to Glassnode and Bloomberg write about the strengthening of whale positions, retail mainly sells and does not change positioning.

As the Chinese journalist Colin Wu, created by chaos regulators, can last during a week-month. It is hard to disagree with him, and this means — an increased uncertainty that will not contribute to the restoration of quotes.

China, whether in the please of the United States, with whom he continues commercial / ideological confrontation, or simply against the background of circumstances, decided to actualize the struggle against cryptocurrency. These relationships and so we were not easy since 2014, although the recent statements of the representative of the People’s Bank of China Whether the fact that Bitcoin can be recognized as an alternative tool, they still gave rise to at least a truce.

However, attacks on miners and cryptocompany demonstrated that at least it is not so at the current stage. Refusal from registration of HuoBi’s new users from China and the suspension of the activities in this country of the mining pool along with the high activity of the sellers of digital assets on OTC-stocks showed that more serious sanctions may follow the rhetoric of the authorities.

Incidental occupies an essential role in the cryptocurrency ecosystem, so once again, as before, the market passes through the critical stage of its development. Only now the United States has been added to this that expect to «configure» the industry in such a way as not to lose the control levers on taxpayers and prevent violations of the UND / CFT. In May, all financial departments were intensified in this direction.

For this reason, the Bitcoin market will continue to look for an equilibrium in the range of $ 30,000 — $ 42,000 at least in the next month. Restoration on Monday, despite such a concerning newspaper, you can perceive as a sign of the market forces. At the same time, hardly, regulators are dried out the stock of new initiatives to build the rules of the game, so the current success may be short.

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