On the afternoon of May 19, the bitcoin rate fell sharply by almost a third, to $ 30 thousand, after which it began to recover. At the time of writing, the first cryptocurrency is traded on the Binance crypto exchange at around $ 39.2 thousand.It became known that during the fall, the asset was bought up by large players, and after that a large outflow of bitcoins from trading floors was noticed, writes RBC Crypto.
The technical picture rather suggests that the rebound will turn into growth – apparently, the news of the ban in China has already been played out, explained Nikolay Klenov, financial analyst at the Raison Asset Management investment company. On May 18, Chinese financial institutions were banned from providing services related to cryptocurrencies. After that, the price of bitcoin began to fall sharply.
“In the long term, I would not sell now, but bought in parts in accordance with risk management. I see bitcoin in the future for $ 100 thousand and more, since the world needs an asset protected from emission, but a lot depends on the actions of regulators. Outlawed bitcoin will lose very much in value, and this must be remembered, ”Klenov warned.
Vladimir Smetanin, CEO of the financial company Newcent, agreed with him. According to the expert, if there is no further negative news, the market will stabilize at about $ 35-43 thousand and go up. This price makes it attractive for new players to enter, Smetanin explained.
The opposite opinion is shared by the CEO of Xena Financial Systems Anton Kravchenko. He is confident that the current moment in the market is a Bull Trap, which means a positive period after a short decline, followed by an even stronger decline.
“I think that the price of bitcoin can drop to $ 25-30 thousand, it is categorically early to buy now,” Kravchenko said.
Bitcoin did not go to update historical highs, Nikita Soshnikov, director of the Alfacash cryptocurrency exchange service, is sure. In his opinion, now there are no prerequisites for continued strong growth.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
