Interest in crypto-currencies is decreasing. Bitcoin fell below $ 7,000.00.

On Friday, most of the world’s major crypto-currencies continue to decline, amid continued fears of further tightening of digital currencies, while the total capitalization of the market has dropped to $ 264.40 billion. The pressure is exerted by the announcement of the People’s Bank of China on tightening the regulation of the crypto-currency market. According to the deputy head of the PBC, Fan Yafei said that the digital currency is one of the three biggest risks to the integrity of the Chinese yuan.

Technical analysis: The price of bitcoin keeps a downward trend in today’s trading, almost reaching the level of $ 6 600.00, thereby confirming my yesterday’s forecast. For more details, see “Capitalization of the Crypto-Currency Market Drops Below 280 Billion.“

At the moment, Bitcoin’s price is trying to gain a foothold below the downlink support line on H1, as a result of which the downtrend may accelerate. In the event that the Bitcoin price decline continues and is fixed below $ 6 600.00, it may be further reduced to a minimum of the year, at $ 5 800.00.

Fig. BTC/USD. The current price is $ 6,951.20.

Alexander Sivtsov