Bitcoin is preparing for a new wave of growth

The price of the most popular crypto currency in the world grew slightly during the European session. The market was supported by the decision of the US federal judge Jack Weinstein on the recognition of the currency exchange commodities. In turn, despite Weinstein’s decision, uncertainty remains in the rules for regulating digital currencies. At the same time, it should be noted that this recognition of the US federal judge can positively affect the investor sentiment regarding the regulation of the crypto-currency market. It is worth noting that the possibility of tightening trade with the crypto currency is less and less frightening for investors, and market regulation can make it safer.

Technical analysis: Despite the decline, Bitcoin’s price keeps uptrend in the short term, finding support at 10,400.00 mark, confirming my yesterday’s forecast. See “Crypto-currency prices are falling. Tighter regulation is hampered the recovery of the market. ” At the moment, I consider the main support levels at $ 10,400.00, $ 10,000.00. In the event that Bitcoin’s price continues to recover from its current position and is fixed above $ 10,700.00, one should expect its further growth to $ 11,300.00, $ 11,550.00.

Fig. BTC/USD. The current price is $ 10 593.90.

Alexander Sivtsov