Bitcoin retains a positive attitude. Regulation of the crypto currency market can add a positive note!

During today’s trading, Bitcoin’s price has updated its maximum value for the last 7 days, reaching $ 11,486.76. At the end of 2017, the price of Bitcoin and other crypto-currencies went down significantly, which was caused by the threat of tougher regulation of the market for crypto-currencies. Today, world regulators are increasingly talking about regulating the crypto-currency market, while noting that the introduction of regulatory measures, primarily aimed at protecting investors and reducing the likelihood of illegal financial transactions using crypto-currencies.

On March 2, the head of the Bank of England, Carney, called on the authorities to regulate crypto-currencies, and not to ban them. Carney noted that crypto-currencies do not pose a threat to financial stability, since their popularity is not yet so global. Carney believes that the crypto currency should be included in the financial system using the same regulatory measures as to the fiat money. The introduction of regulatory measures not only minimizes money laundering, but also investment risks in respect of crypto-currencies.

Technical analysis: Most of today’s trading price of Bitcoin moves in a narrow range in anticipation of new catalysts for market movement. In the event that Bitcoin’s price resumes growth from the current positions and is fixed above $ 11,700.00, one should expect its further growth to the level of $ 12,500.00. The main support levels, which should also be considered for purchases of crypto currency, are considered at $ 10,700.00, $ 10,400.00, $ 10,000.00.

Fig. BTC/USD. The current price is $ 11,409.450.

Alexander Sivtsov