The crypto currency market is decreasing. Bitcoin fell below $ 10,000.00

The market of crypto-currency remains under pressure during trades on Thursday amid reports that the Japanese regulators have imposed penalties on 7 crypto-exchange exchanges. Penalties were imposed in connection with the lack of mandatory internal control systems. BitStation and FSHO exchanges were ordered to suspend work for a month. Also, pressure continues to be exerted by Chinese regulators on blocking work with crypto currency in the country. On Wednesday in China, the accounts of currency exchange in social networks were blocked.

The regulatory measures continue to put pressure on the crypto-currency market. However, Ripple CEO Brad Garlinghouse said on Wednesday that cooperation with regulatory bodies is necessary for the development of the crypto-currency market.

Technical analysis: Bitcoin’s price on the chart H1 has formed a “double bottom“, which is a signal of the recovery of the price of the crypto currency. In case the price is fixed above $ 10 000.00, one should expect its further growth to $ 10 400.00.

Fig.1 BTC/USD. The current price is $ 9,824,910.

On the D1 chart, the price has formed a “Double top“, the possibility of its development is quite low, since the figure is formed not at the top of the trend, but, in the case of development of the figure and fixing the price below $ 9,200.00, the further reduction of it to $ 7 600, 00 is possible.

Fig.2 BTC/USD. The current price is $ 9,824,910.

Alexander Sivtsov