Bitcoin decreases again

During today’s trading, Bitcoin’s price went down, falling to almost $ 10,000.00 per coin. Following Bitcoin, other leading crypto-currencies also declined, while the total capitalization of the market declined by about 10% and currently stands at about $ 511 billion. The main pressure is caused by the tougher trade in crypto currency and regulation of the market as a whole.

Chairman of the Bank of Canada Stephen Poloz in his interview for CNBC, announced his intention to begin the process of regulating the market of crypto-currencies. At the same time, Poloz noted that the crypto-currency, it is not an asset, perhaps it can be attributed to securities, but in particular bitcoin internally has no value, and its rate is speculative.

Technical Analysis: Despite today’s decline, Bitcoin’s price is within the flat range between $ 9,900.00 and $ 11,700.00. At the moment it’s hard to say how the price of the crypto currency will behave in the future, only after leaving the channel it will be possible to talk about the further movement of Bitcoin’s price.

Fig. BTC/USD. The current price is $ 10,225,420.

Alexander Sivtsov