Bitcoin price virtual currencies are now more volatile because recently some bad news has been published. Since january 2018 major cryptocurrencies price has dropped. Bitcoin could not break 10000 dollars since 2018-03-07 according to bitfinex. Last crypto market decline was 2018-06-10. Bitcoin price was 15 days ago 7480 USD that day there were some bad news.
But recent price felled due to japanese authorities warn the crypto exchange to raise their drill against financing of terrorist and money laundering. Bitflyer one of them japanese finance moderator said they are not taking enough action against finance of terrorist and money laundering and bitflyer said we will stop adoption to take new business means new account.
Few days ago bithumb biggest crypto exchange was hacked 31$ million dollar but they recovered money their users from fund despite it was not affected in bitcoin price. Bitcoin price today fell 5,800 the lowest level of 2018 has reached.
But today we can see market sell off has stopped and price is 6,170USD while i am writing. Market sensibility has changed and we have to wait more some time for buying using stop lose because investment of crypto is risky.
Now let see the analysis of bitcoin which all crypto follow the price of BTC. Today, Bitcoin price according to bitfinex : High : 6,259.0 LOW : 5,755.0
From 2018 till now bitcoin continue to bear in downtrend channel. But its still possible for bullish movement if fail to break uptrend then we will see 6,000$ to 4,000$ level.
If bitcoin break the price 6,700 Or 6,800 level then we can assume the price 8000 to 9000 level. Support level is 6100 to 6140 must use the stop lose. If the price falls below 6000 or 5900 USD our guess is price will be 5100 Usd level.
Our advice :
this is the buying opportunity long term for altcoin. if anyone want to trade with bitcoin just wait one or two day. Must keep remember crypto market is now under heavy sell off. The safer level is trading over 6700 USD if price reaches. Read our COTI ICO Review