Six weeks after reaching a historical maximum near $ 65 thousand. Bitcoin fell more than doubled, pushing many cryptoin investors. However, in such a key, the event developed in the past, after the completion of the bull market in 2017. Now the fundamental picture looks like an example better, and the refund of «cryptosims» is now not actively discussed in the community. Nevertheless, we still have patience, most likely, still have.
The market went far ahead in its expectations of active penetration cryptocurrency into our lives, and the technical picture signals the possible consolidation within a month or two before more confident attempts to return to the growth trajectory. It is necessary to secure above $ 42 thousand, which will not be easy, and the option of re-movement to $ 30 thousand. For residual sales, will cause much less resistance.
The reasons for the April-May correction lies not only in the «betrayal» of the mask — its cooling to Bitcoin threw a shadow on the prospects for the first cryptocurrency by other corporations and its mass implementation as a payment option. Before the tweet of the head of Tesla market participants upset the comments of the new chapter of the SEC Gary Gencer, which could not be interpreted in favor of ETF approval this year.
Earlier, US President Joe Biden voiced plans to increase taxes on wealthy persons. It all happened in the context of the Campaign of the Tax Service to identify non-payers.
The combination of these factors could be an impetus for fixing profits, because retail investors for a new impulse still need to wait, and the current profits can be lost.
So dramatic development of events that took place
On the other hand, traditional markets are «launched». The race of inflation can knock them out of the saddle, and cryptocurrency on this background will already be able to be perceived as an alternative in the context of the ratio of profitability / risk.
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