The cryptocurrency market approached the May minimum due to the capitulation of buyers


On Tuesday, the cryptocurrency market approached the May low after the exit on Saturday the price of Bitcoin from the triangle down and confirm the truth of the breakdown day before.

Buyers surrendered and, according to the latest summaries of GlassNode,

Technically, the path to lower the price of Bitcoin to $ 25,000 — 30,000 is opened. In other words, the potential of falling another 6-20%. With its implementation, all achievements will be finally leveled from the beginning of the year, and the candle for 2021 will become even more «bearish». But strategic investors are not afraid. Michael Sailor from MicroStrategy wants to attract already $ 500 million through convertible bonds. The company’s investment is still in plus (by 31%).

On Tuesday, energy moved down information about the success of the FBI in returning part of the redemption paid by the COLONIAL HACERA Pipeline operator. The market saw in this increased opportunities of investigators, which somehow managed to get a private key to the wallets of intruders and a serious risk for themselves due to the ambiguous perception of digital assets at present. The market is now emotional, someone could spend parallels with the confiscation of gold in the United States in the 30s after refusing from the Golden Standard. So dramatize, of course, it is not worth it. But in general, the news background is still not favorable to buyers.

Regulatory pressure is preserved. Cryptovolyuts have already become interested in the Basel Committee, which may affect the plans of those banks that planned or have already become introducing new services for customers. In Sichuan, local Mainera recommended to stop operations after September, when local hydroelectric power plants will cease to generate excess electricity. Among the investors reigns Skepticis — Goldman Sachs noted the «unattractiveness» of investments in cryptocurrency in current conditions following the survey of representatives of 25 major hedge funds.

Over the past 24 hours, the market loss has reached double-digit values. Altcoins demonstrate an average higher rate of decline than digital gold. Such a disposition may be preserved. Ethereum is able to chef to $ 1900-2200.

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