Equilibrium
With the latest news received on regulatory issues, exposed by the US Securities and Exchange Commission (SEC) and the Futures Commodity Marketing Commission (CFTC) at a meeting held on Tuesday, February 6. The written testimonies of Jay Clayton and J. Christopher Giancarlo, the presidents of the SEC and the CFTC respectively, have been made available to the public.
The users of BTC and cryptocurrencies are gradually returning to the market, we have seen a growth in the market cap going from $ 330 billion dollars to $ 402 billion, a growth of 17,9% in 72 hours.
Market capitalization
The price of Bitcoin has gone from US $ 6,000 to US $ 8,500, what does it tell us? that there is new reception and trust is returning, of course it is very slowly and in a phased manner. The expectation is that there will be a breakeven point when it exceeds the US $ 11,636 mark, where we will see a greater confidence in the public and in the investors, the growth of BTC will be gradual, many expect to see it again on the US $ 20,000 price that goes to Take time to arrive. in the graph we see a possible price projection from today until February 22, point where it could be said that we enter a zone of equilibrium.
At this moment we go slowly, recovering ground, to return again to the maximums of the beginning of the year. The climb will be gradual in altcoins as well as in BTC. I expect the breaking of the resistance zone in 8800, to be able to define an upward trend, otherwise I would go back to 7900 and it would keep oscillating in those prices until February 12, where the definitive escalation could be. Time to take long positions.
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