Cryptocurrency assets continued to trade with a slight change at the end of the previous week. The Bitcoin/US Dollar pair failed to break through the $4150 level. The single hope for cryptocurrency investors can be only the fact that for almost the whole week the main crypto pair hasn't gone below $ 4000, which let us to continue to talk about an uptrend in the virtual currencies market, though weakly. Bitcoin fell to around $ 4020, Ethereum was trading around level 137, and XRP dropped to $ 0.3085.
Bitcoin continues flat around the $ 4000 level. During the previous week, the average price of Bitcoin, according to CoinMarketCap, was moving in the range of $4000- $4095. The market capitalization for the week almost did not change (-0.3%) and is still held at around $ 140 billion.
Somewhat alarming is the fact that Bitcoin did not receive a growth impulse after overcoming this round mark. As a rule, if after such a bold act there does not come a period of strong uptrend, all this reinforces the skepticism of the market. Part of the bull speculators first out of purchases, if the asset does not receive growth momentum.
During the previous week, the Bitcoin rate was in a narrow range of 4000-4100 dollars. According to CoinMarketCap, on Friday the trading volumes of Bitcoin and steyblokina USDT updated local maximums and reached 11 billion and 10 billion, respectively. The capitalization of the market is kept at 140 billion dollars.
Center for Information Technology of China has published 11 rating cryptocurrency. The TOP3 positions - EOS, Tron and Ethereum - have not changed. Bitcoin dropped two positions from last month and ranked 15th. All the presented digital currency projects have been evaluated on the basis of several categories including basic technology, and applicability.
In our forecast for Monday, we expect Bitcoin to decline to 4000, 3950 and 3900 dollars, Ethereum to 135, 132, 130 marks, and the XRP price to support 0.3075, 0.3050 and 0.3020 dollars.
The next week, the Bitcoin/US Dollar pair will probably not fall lower $ 3900, but will surely try to overcome the resistance of $4200 level. However, in the transition to the medium-term forecast, the balance of power changes, and here, as before, 70% of analysts side with the bears, voting to reduce the pair during the spring below $ 3000.
The media again sounded forecasts for Bitcoin for $ 250K, on the other hand, talking about falling to new historical minimums, or meaninglessness and zero value of the industry as a whole. However, somewhere in the middle: the demand for cryptoactive assets is indeed growing, but not strong enough to show at least half of the highs reached earlier, however, the growth in daily trading volumes clearly indicates a return of interest, and it is he who will not give the market a final “blown out”.
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