Today the Bitcoin exchange rate rose by 3 percent at the time of this writing, the first cryptocurrency is trading at the level of 6.47 thousand dollars. However to rejoice early — interviewed by “RIA Novosti” , the analysts predict a decline in the cost of the first cryptocurrency in the near future.
According to the Director for investments of the international network of experts and investors for the digital economy Cryptolife.World of Mansur Guseynov, Bitcoin has entered a phase of consolidation. In other words, the price of a coin is within a certain narrow range.
The forecast of exchange rate of Bitcoin for a week
Bitcoin has stabilized, reaching previous lows, and is trading at 6.4 thousand dollars. Apparently, this consolidation and the next move with high probability will again be pointing down.
Huseynov added that the first cryptocurrency is in a better position compared to other coins, but this does not mean that in the short term it will be strengthened.
Previously analyst and partner of investment company Distributed Global Jonathan Cheeseman was named five reasons behind the current fall of Bitcoin. Among them are macroeconomic instability, the dominance of speculative capital, regulatory uncertainty, the predominance of short sales and fraud.
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