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Wednesday 14 March 2018

Bitcoin left in the middle of the corridor last weeks

The bitcoin is now close to the mid-line of the range of fluctuations of the last one and a half months (about 7-12 thousand dollars). The outset, perhaps in a narrower corridor, will still be preserved.
Why the price of bitcoin can't make a breakthru for several days in a row? The answer is very simple: the problem of scaling in bitcoin remains unresolved for the last three months. Therefore, from the point of view of fundamental analysis, while the bitcoin system can process an average of a maximum of 300,000 transactions a day, the fair price of bitcoin is estimated at between $5,000 and $7,500 per unit. Anything above this range can be considered overbought for bitcoin.
With the unresolved problem of scaling, if the price of bitcoin is above $7,500, then at any time it may drop even in the absence of any significant news. Therefore, we should not be surprised that in recent days the price of crypto currency has been adjusted.


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