Forecast: this week the Bitcoin expect reduce

Last week the exchange rate of Bitcoin for the first time since the end of may has exceeded 8 thousand dollars. The coin values influenced the decision of the SEC to defer the consideration of the question of ETFs and the refusal of the approval of open investment funds of the Winklevoss brothers. However, the first cryptocurrency quickly played the fall and returned to values above 8.2 thousand dollars.

This week Bitcoin is waiting for the decline — the reason for this will be a correction after reaching the psychologically significant level of 8 thousand dollars. This was stated by the experts interviewed “RIA Novosti”.

What will happen to the Bitcoin this week?

The main event for the industry last week, analysts called the reaction of the SEC on the proposal of the Winklevoss brothers. According to PR-Director of Blockchain Capital Tugush Timothy Fortunatova, the actions of the Commission demonstrate that Bitcoin is no longer evolves by itself.

The refusal of the SEC reminded observers that Bitcoin is not a completely independent financial unit. Moreover, it is actively trying to adjust and should not expect that these attempts will stop in the near future.

According to the Professor, chair of financial management, Plekhanov Russian University of Economics Constantine Ordova, this week the price of Bitcoin will drop a bit, but it will all depend on the news. In the case of a positive decision of the regulators of the coin can take a new line — up to the bar in 8.8 thousand dollars.

Next week the market is likely to be consolidation in the range of 7.9-8.4 thousand dollars. If positive news can be seen and 8.8 thousand dollars, as the level of support for 7,9 thousand dollars has already been tested.

Analyst “Alpari” Vladislav Antonov believes that the decline of Bitcoin will occur from 1 to 23 August.

Depending on the pricing model of the terms can be moved. If the Bitcoin exchange rate will fall below 8 thousand dollars, some go up to 8.48 thousands of dollars can be forgotten in a month. During the correction I expect the drop rate to 6.8 thousands of dollars.

Let’s hope that if the correction happens, it will be short-lived. And then Bitcoin will fly up.

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