The crypto-currency market in anticipation of new catalysts for the movement
The state of the crypto-currency market has improved slightly over the past 24 hours, in particular, Bitcoin’s rate today demonstrates an increase of 6.00%. Despite some growth on Wednesday, the price of major currencies remains at the level of the average values of the trading week. The toughening of the trade rules in crypto currency from South Korea and the fear of imposing a number of restrictions by other countries hamper the recovery of prices for digital currencies. The popularity of the use of blockchain technology provides support to the crypto-currency market.
Yesterday in Davos, was launched the International Economic Forum, which is attended by representatives of more than 100 countries. The forum will discuss the development of the crypto-currency market and participants will try to answer the question about the “bubble” in this market. It is possible that, based on the results of the forum, a new catalyst for the change in the price of digital currencies will appear on the crypto currencies market, which can significantly increase volatility in the market.
Technical analysis: Bitcoin price moves in the flat range of support at 9 900.00 mark and resistance at 11 700.00 mark. Trading from these levels is very dangerous, given the repeated test of the price by them, the further movement of the Bitcoin price will determine the breakdown of one of the boundaries of the flat range.
Fig. BTC/ USD. Current price – $ 10,771.880
Alexander Sivtsov