Bitcoin subsided in the market: an expert told what is happening with cryptocurrency
The long lull in bitcoin price activity continues and this is due to several factors
This was stated by the senior cryptanalyst of the market at Oanda Craig Earlam, reports the thematic edition of MyCrypter.
According to him, previously, one of the main reasons for the inability of digital assets to perform the function of a means of payment or accumulation was the high volatility of prices.
However, the result of complete calm in the crypto-currency market was the achievement of the lowest level of volatility in two years by the bitcoin price
The value of bitcoin price change in the previous 30-day period was the lowest since December 2016. Currently, the price of the main digital currency fluctuates around 6500 dollars, and its prospect remains unclear.
"It is difficult to analyze the behavior of bitcoin, because every day it is a copy of the previous one. If we see a breakthrough, it could lead to a strong impulse movement. However, we would be interested to know when it will happen — the specific time of the beginning of the market revival," Erlam said.
Erlam also noted that the cryptocurrency community should use the time of consolidation to work on more efficient technologies related to digital currencies.
"Only time will tell if they built something more sustainable," he said.
Also, Politika reported that the authoritative company Bloomberg decided to find out what the future awaits the crypto currency. In particular, representatives of the company decided to ask citizens what they think about the digital currency. Specialists created a simple online survey, which was conducted in real time and consisted of only three questions.
What will happen to the crypto space in the next 2-5 years. Every second Respondent believes that the cryptocurrency is waiting for a steady growth. 28% of respondents are sure that cryptocurrency rates will collapse, and 8% of people predict that the value of digital currency will soar.