The crypto-currency market has decreased again. India comes into play

On Monday, amid fears of tightening the work with crypto-currencies on the part of regulators, the world’s major crypto-currencies again fell in price and maintained a negative attitude. The catalyst for reducing the cost of crypto-currencies was the decision of many of the largest banks in India to freeze the accounts of crypto- exchanges in order to tighten trade. Also on Monday, the news was sounded that this year the South Korean government is going to introduce a corporate income tax and corporate tax for crypto-exchanges of 24.2%. Due to a new wave of fears that the work with crypto currency has become tougher over the past 24 hours, leading crypto-currencies have fallen in price by about 9.00%, and the total market capitalization has fallen to the level of 522.00 bln.

Technical analysis: Bitcoin’s price moves in a predominantly flat in the short term with the nearest support level at $ 9,900.00 and resistance at $ 11,700.00.

The main recommendations: The main recommendation will be selling Bitcoin from the resistance at $ 11 700.00. Purchases from the main support levels have not yet been considered, since if the price is fixed below $ 9,000.00, it is worth waiting for the resumption of the downtrend in the short term.

Fig. BTC/USD. The current price is $ 10,376,700.

Alexander Sivtsov