Bitcoin is growing. Is correction completed?

Over the past 24 hours, the price of the most popular crypto currency in the world has grown by about 10% and reached $ 15,880.45, having previously found support at $ 14,000.00. Additionally, see “Bitcoin hesitantly recovers. Ripple broke into second place.“

2017 was marked by a significant increase in demand for crypto-currencies, and in connection with this, more and more comments appeared on the network that the bitcoin rate is speculative and its significant growth is nothing more than a soap bubble. In turn, it is worth noting that by the end of 2017 a number of countries began to create a regulatory framework for working with crypto-currency to take control of this market. Against this background, one can conclude that bitcoin has already taken its place in the global payment system, against which the possibility of a bubble explosion is significantly reduced.

Technical analysis: The bitcoin price keeps upward potential and is approaching a significant level of resistance at $ 16,400.00. The breakdown this level can be considered as a signal of a possible reversal of the downtrend in the short term and further recovery of lost positions.

Fig. BTC/USD. The current price is $ 15,766.670.

Alexander Sivtsov