Crypto-market movement in recent days struck even the most enduring investors. The drop in capitalization from more than $800 billion at the beginning of the month to the current level of 440 billion on January 18th provoked a panic among the community. The Bitcoin for the first time was below $ 10,000 since December 2017.
At the moment, it is worth estimating the situation on two possible vectors for further development. The first vector assumes a further decline. This is facilitated by strong bearish actions in the market, and world news. The eyes of most investors are directed towards China and South Korea, where regulators are trying to “cover up the bench.” Given that the Korean market accounts for almost a third of the world’s transactions with the cryptocurrency, closing the market can be fatal for the entire industry.
The second possible direction is the market turn in the coming days. There are also prerequisites for this. As some analysts believe, the price for Bitcoin is artificially understated due to the timing of the delivery of the cryptocurrency for the December futures. As for a technical analysis, support levels of $8500 and
$8200 on the BTC chart can be noted, presumably from this mark the purchase of cryptocurrency will begin. The altcoins, led by Stellar, have already started moving up today. If you take as a basis the beginning of investments in January, May, August and September of last year, then investors have nothing to worry about and it is worth holding Bitcoin. And maybe now there is one of the best moments for 2018 to enter the market.