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BTC: what to expect this week


Bitcoin grew by 6.3% last week, rising above $ 6 800 and strengthening for the second week in a row. The global positive news is gradually giving confidence to market participants.

The American regulator SEC is quite loyal to the registration of Exchange-traded funds (ETF) based on Bitcoin. South Korean authorities are planning to weaken measures to regulate the market of cryptocurrencies in accordance with the recommendations of the group of countries participating in the G20.

The Coinbase Exchange is implementing the Coinbase Custody service, aimed at supporting large cryptocurrency companies. A similar service Custody Solution, on attracting large institutional investors to cryptomarket, introduces and Japanese bank Nomura, – writes forknews.

The European Investment Fund announced the beginning of work with cryptocurrencies, Switzerland is actively working to provide bank accounts for companies engaged in digital assets, and Malta is studying the regulation of the blockchain industry.

What to expect for the current week from the cryptocurrency market? Most experts believe that bitcoin will continue to grow at a moderate pace this week, and may soon exceed the $ 7,000 mark.

“Now the market has the opportunity to overcome the mark of 7 thousand dollars for bitcoin and go to the target price of 7,5 thousand dollars. But it’s worth keeping an eye on the pulse – the market is still thin, and with a small negative, everyone is actively selling. Bitcoin has not yet emerged from the trend to decline, “said Igor Zartdinov, co-founder of ICG.

“Users have become more and more calm about negative news on the market. Bitcoin has every chance to keep its cautious progress up in the coming days, and the main reason for this is the absence of any clearly positive or negative news on the market, “said analyst Timofei Fortunatov.

“So far, few signs indicate a rapid rise in the price of bitcoin. This week for bitcoin can continue consolidation, but already below 6.4 thousand dollars, “said analyst Konstantin Ordov.

“There are no buyers, otherwise the price would have been already above $ 8,000. I think that interested parties are shooting up (through robots), intimidating sellers so that they do not sell bitcoin aggressively. To the rally above 7 thousand dollars the market will be ready no earlier than on July 17, “- believes analyst Vladislav Antonov.

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