Bitcoin is inactive. South Korea puts pressure on the crypto currency market

The price of bitcoin keeps a fairly low-key dynamics during Friday trades, adding to the quotations about 2.00%. Yesterday, bitcoin, like most other crypto-currencies, held trades under pressure of continued profit-taking by investors and stabilization of the market by the end of the year. Also, pressure was exerted by another statement of the South Korean authorities about plans to limit speculation by crypto currency. In South Korea, approximately 20% of all bitcoin transactions occur. The country’s authorities forbidden the opening of anonymous accounts in the crypto currency, and it is also planned to develop a regulatory framework that will allow regulators to close cryptographic exchanges in case of need.

Technical analysis: The price of bitcoin moves in a downtrend in the short term. If the price of the crypto currency is fixed below the level of $ 12,800.00, one should expect further price reduction to $ 11 600.00; $ 11,000.00. In case of a price increase and its consolidation above $ 16,445.50, one can talk about a possible reversal of the short-term trend and a price increase to the level of $ 18,000.00.

Fig. BTC/USD. The current price is $ 14,307,120.

Alexander Sivtsov