On Friday, June 11, Bitcoin is trading at $ 36.8 thousand.The coin continues to recover after three days ago, its quotes fell to a local minimum of $ 31 thousand.However, experts warned that the market may again move to a downward trend next weekend , reports RBC Crypto.
“The weekend won’t bring drastic changes”
Director of the cryptocurrency exchange service Alfacash Nikita Soshnikov
Bitcoin in the coming weekend is unlikely to be able to overcome the pressure of bears and jump to $ 40 thousand, especially to exceed this mark and gain a foothold above it. It seems unlikely to me that the rate will drop below $ 30 thousand in the coming days: for this, it is necessary that institutions that are actively buying on Bitcoin drawdowns abandon this tactic and, instead of the current accumulation of bitcoins, go to the sale. So far, this has not been observed.
If bitcoin drops to $ 30 thousand, then there will be a buy-back on the placed orders, and the rate will bounce back. I believe that the weekend will not bring us any radical changes, and the cryptocurrency will continue to trade between $ 31K and $ 35K.
“The external background remains negative”
Head of the analytical department AMarkets Artem Deev
Most likely, the downtrend will continue, and the gradual slide of bitcoin (followed by other coins) will continue. The external background remains negative for the market. Countries are actively developing the topic of their own digital counterparts of fiat currencies, and therefore cryptocurrencies represent competition for them. The increase in regulatory pressure will continue, which will determine the trends in the digital asset market.
It was started by China, which the day before continues its attack on the crypt: in the PRC there were massive arrests of suspects in laundering illegal proceeds using cryptocurrencies (more than 1,000 people were arrested). But at the same time, China is actively developing the digital yuan project and promoting it among the population and business. And the central banks of France and Switzerland have begun testing cross-border transfers using their digital currency.
We should expect further negative statements for the cryptocurrency market from regulators or businesses, which will be the reason for a sharp drop in bitcoin (below $ 30 thousand). Without such news, the coin will be in the range of $ 34-37 thousand.