But will the market be able to start a new uptrend? I think now it's rather difficult to predict. As Bitcoin market, like the whole crypto market, has very small capitalization, any solid buy can push the market upward. Any manipulation can be a reason for any price movements but if we talk about solid uptrend in long run, for this we need solid fundamental support. I believe that now, such fundamental support can be provided ONLY by institutional traders and companies. Such fundamental support can be provided by the news, telling about new infrastructure allowing institutional traders and companies take part in Bitcoin trading. I don't believe in the power of retail traders, small investors and crypto enthusiasts. If they could create hype in 2017 year, in this year they are not so strong and their abilities are limited.
That's why I would like to watch for the price action at important resistance zones and wait for positive news for the crypto.
The market still keeps the potential for moving below 3000.00 support or starting a new sideway movement between 3000.00 and 6000.00 levels. How it will be, we will see. But now it's not a time for rushing.
If you have another point of view, please share in comments. The same goes about your ideas, questions and suggestions!
I will be grateful for your LIKES if you think this information is helpful for you.
it is not garbage margin ! it is prefunded contract and very healthy for crypto market read more : https://bitcoinist.com/bakkt-not-bitcoin-margin-trading-ceo/
bakkt is promoting on NYSE twitter and ICE website remember that this is biggest news for crypto history