Experts expect reduction in the price of bitcoin this week

© RIA Novosti / Vladimir Astapkovich in fotobabbles. Archival photoExperts expect reduction in the price of bitcoin this week© RIA Novosti / Vladimir Astapkovich the image Bank

The cost of the most popular cryptocurrency bitcoin (BTC) this week is likely to fall in the absence of big news and the decline of interest on the part of market participants, according to respondents RIA Novosti experts.

According to the website CoinMarketCap, calculate the average price across more than 20 exchanges, according to the trading results of the resurrection of the bitcoin has risen in price on 0,13% — to 6,483 thousand dollars. On largest by volume cryptocurrency exchange Binance bitcoin had dropped in price by 0.22 percent to 6,481 thousand dollars.

According to CoinMarketCap, the market capitalization of crypto-currencies made up 209,342 billion dollars. The share of bitcoin had approximately 53.7% of the total cryptocurrency market.

Waiting for new drivers

As said the analyst «Alpari» Vladislav Antonov, the cryptocurrency market is currently «waiting for the new drivers». They may be messages from the world’s regulators.

«In the near future, the Commission on trade commodity futures U.S. (CFTC) should take the decision to allow bitcoin ETF (exchange traded Fund) or not,» he said. The interest of market participants and major players, according to experts, will cause and results of the investigation the CFTC schemes of price manipulation by the exchanges Bitstamp, Coinbase, Kraken and itBit.

Analyst social network for investors eToro in Russia and the CIS Mikhail Mashchenko, in turn, has provided a statement of the largest exchange holding ICE about starting in December, trading platform Bakkt. The main product of the company are futures contracts for bitcoin with a physical delivery of an asset, plan to use the cryptocurrency of digital repository ICE.

«ICE can be one of the most active buyers of bitcoins at the moment, because before running the tools the company needs to accumulate enough coins for delivery. There is a chance that commodity futures will be the instrument that will attract major investors,» he suggested.

Flight from cryptocurrency

Despite these expected events, the cryptocurrency market, particularly the price of bitcoin, did not show a big progress in trading.

«Over the past seven days, the change does not exceed 2.5%. Unfortunately, it also decreased the volume of trades. The cryptocurrency market is still, apparently, waiting for the revolutionary events», — said the chief analyst Tokenbox Igor Doganov.

The head of Enigma, co-founder of cryptocurrency Fund ICG Igor Nurtdinov believes that this is due to the decline in interest in the cryptocurrency.

«We see a General decline in interest in the cryptocurrency, and the capitalization of the stock market for more than two months hovering around $ 200 billion, which indicates a decline of interest of investors to bitcoin and the entire market as a whole. Return to former position may be the emergence of important news, which was not recently. Otherwise, the price of bitcoin will continue to move in a narrow range 6,325-6, 6 thousands of dollars with bearish strategies trade,» he said.

Antonov believes that if the price of bitcoin will not be able to hold at 6.9 thousand dollars, «the market expects a mass Exodus of digital coins and the first impressive point in this case, we will see the end of 2018.»

A similar forecast was made Mashchenko «the Current market environment is such that movement to 6 thousand dollars is much more likely than a rise to 6.7 thousand dollars,» he said.