On Thursday, Bitcoin was trading at $3570,00, according to a leading analyst RoboForex Dmitry Gurkovsky.
On the 4 hour timeframe Bitcoin observed a corrective decline after a rapid growth momentum and changing trends. Having reached the level of 38.2% according to Fibonacci, the market has developed and continues to develop the short-channel reduction.
The purpose of the decrease may be located on the support line, approximately $of 3500.00. After the test of this level we can expect new growth to the local resistance of $3632,00, breaking which the quotes will be able to rise to the level of 50.0% ($3786,00) on a scale Fibonacci.
1-hour chart shows Bitcoin protracted testing the correctional level of 38.2% of Fibonacci. The completion of this trampling is likely to be expressed by a continued decline to the levels of 50.0% ($3524,00) and 61.8% ($3481,50).
Among the interesting for the cryptocurrency market news information about the outcome of 2018. So, in Texas, USA, the state Council securities has closed 16 projects related to digital currencies and fraud.
It is known that scammers have used the factor of anonymity to spread within their projects tokens of unregistered companies. For investors operated various schemes, which was supposed to attract Finance for projects.
Cleaning of the cryptocurrency sector, these efforts – it is rather a plus than a minus. However, it is understood that a number of American States have taken a tough stance against native cryptocurrency projects only under pressure from the SEC, the Commission on securities and stock exchanges of the USA.
In addition, we cannot ignore the comments of the member of the Commission on securities and exchange Commission, SEC, Robert H. Jackson (Robert J. Jackson). According to him, the SEC will approve the Bitcoin ETF as soon as the tool will meet the requirements and standards of the regulator. Meanwhile, the coordination of the new tool will not be easy, it is also necessary to understand. It will be a difficult path, but sooner or later will be approved.
The chances of individual companies that submitted previously an application to open a Bitcoin ETF, Jackson has not commented. However, it clearly suggests that the probability of entry of new instruments would be higher.
Moreover, the SEC rejected the application because of the high risk of fraud and the chances of market manipulation. Later, when changes were made, the documents are “stuck” due to the U.S. shutdown.
Forecasts financial markets are private opinion of their authors. The current analysis is not a guide to trade. RoboForex is not responsible for the results that can occur when using trade recommendations submitted reviews.