Bitcoin notes another small progress, which requires optimism to look into the future

12/02/2018

Stock data from Coinmarketcap shows that Bitcoin begins and closes the last seven days at around 8,300 USD, after dropping to 6111 USD on 6 February before reaching 9109 USD on 10 February.

The market is under the influence of regulatory activity in major trading markets, such as India and the US. Cointelegraph also reported throughout the week that the interest of the press in the Indian and American movements may contribute to certain instabilities.

In the social media, traders and commentators have predicted a positive reversal of Bitcoin’s fate, resulting in over $ 9,000.

Anticipating next week’s activity, Tone Vays – head of research at BraveNewCoin – on Friday suggested that currently around $ 10,000 “will be very difficult to achieve”. Then he added:

Bitcoin is reaching the price of USD 9,000, so it may turn out that the value of USD 6,000 may be the lowest in 2018. Are there any reasons to be nervous?

On Sunday, moderate losses were recorded in the 50 largest assets tracked by Coinmarketcap. Interestingly, the new Altcoin U.CASH, which increased by more than 1000% within 24 hours, thus gaining 33 place on the market with market capitalization of USD 645 million, causing a general trend disruption.