A drastic decline of altcoins on Friday

Heavy week for the bitcoin and the other cryptocurrencies. The heaviest, however, was the last day of last week for the altcoins.
Bitcoin Gold, for example, lost 15% of its value, pointing to the psychological limit of $50. Many analysts believe that the depreciation of the cryptocurrency may continue to the next psychological level of 40 dollars per coin.
The latter level has proved to be a key level of support, and started the last rally.
The dash also overcome the psychological support level of $400 on Friday, and the cryptocurrency seems to have fallen further down to 350 dollars. Experts believe that the $420 level is a serious resistance and could limit the price of the digital coin.
The monero also experienced severe times on Friday, moving below the $200 psychological limit.
Otherwise, the ripple declined substantially, falling over the past week by over 20% and closing the week at 0.69 cents. Litecoin also fell seriously - to a level of 139 dollars per coin on the last day of the week.
The second largest cryptocurrency - the ethereum, ended at a level of 690 dollars per coin.
Otherwise, the bitcoin led the fall of the cryptocurrencies after dropping below the $9,000 psychological limit, where it traded for most of last week. On Friday, the bitcoin ended at $8,500 for a coin.

Next stop for the bitcoin - $10,000?

The bitcoin rose 4.8% last week, neutralizing its decline of 4.1%. The crypto currency, however, continues to face difficulties in registering two consecutive days of rise.
In spite of the fall of the bitcoin in the recent week, however, the currency gained 6.3% last week. And more importantly, it managed to get back at trading levels of over $9,000.
Now, according to analysts, the crypto currency can continue to grow to a level of $10,000.
The highest daily rate was $9,500 and the lowest equivalent value was $8,750.
The good news for investors is that the crypto currency retraced from 23.6% fibonacci correction, which was at $8,996 to recover to $9,342.9.
Bitcoin bulls expect the good times for the crypto currency to continue, heading for the $10,000 psychological limit.

Correction on crypto-markets

The main crypto-currencies on Wednesday are falling in price as part of the correction that began on the market to the rapid growth of the previous days, when bitcoin reached its monthly highs.
The bitcoin rate declined by 0.29% to $9,325 on Wednesday, with a capitalization of $158.9 billion. Other crypto-currencies suffered more serious losses.
Thus, the rate of litecoin fell by 6.66% to $152.7 with a capitalization of $8.6 billion. Ethereum has fallen in price by 8.20% to 641.5 dollars, its capitalization is 64.1 billion dollars. The rate of ripple fell by 10.71% to $0.84, with a capitalization of $33.4 billion. The total market capitalization of crypto-currencies by this time reached 409.2 billion dollars.
As a reason for the growth of the crypto-currencies in recent days, it is possible to designate the end of the tax period in the United States, when the participants of the crypto-markets paid taxes for operations with digital money. Now the market has matured correction.
On Thursday, we can expect that the bitcoin rate will go below $9,300, litecoin - below $150, ethereum will move to $630, and ripple will go to the level of $0.7.

Crypto-markets has risen sharply

Crypto-market actively grows on the good news about the possible creation of a European partnership in the field of blockchain. Bitcoin rose above $8,000.
The bitcoin price increased by 11.29% - to 8122 dollars with a capitalization of 116.2 billion dollars. The rate of Litecoin strengthened by 5.68%, to 130.3 dollars with a capitalization of 7.3 billion dollars. Ethereum at the same time increased in price by 12.00 to 10.88% - to 519.3 dollars, its capitalization was 51.1 billion dollars. The ripple rate climbed 13.85% to $0.65 with a capitalization of $24.8 billion. At the same time, the total capitalization of the market is 323.6 billion dollars.
Last week the crypto-currencies sharply increased in connection with the decision of some countries of the European Union to sign a declaration on the creation of a European partnership in the field of blockchain. They are ready to cooperate and exchange experience in the technical and regulatory sphere, as well as to prepare the launch of common applications using blockchain technology for the public and private sectors.
It is likely that the market has completed the period of corrective decline and has entered an upward trend.

Crypto-currencies: fall continues

The main crypto currency - bitcoin - is significantly cheaper, reaching yesterday below the mark of 7 thousand dollars and striving on Thursday to the level of 6700 dollars.
Other crypto-currencies also show negative dynamics with a decrease in capitalization. This occurs within the framework of the downward trend that has formed on the market, which was not broken by the short-term growth of the previous days.
Thursday morning, the bitcoin fell in price for a day at 2.53%, with a capitalization of $116.4 billion. Alternative crypto-currencies are also cheaper. Ethereum fell in price by 0.6%, with a capitalization of 37.7 billion dollars, Ripple - 2%, to 0.49 dollars with a capitalization of 19.6 billion dollars. The rate of Litecoin thus fell by 0.78% - to $120.03. The capitalization of Litecoin is 6.7 billion dollars.
The market has recently seen a decline in trading volumes, which leads to an outflow of speculative capital from the crypto-market.

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.

J. Gundlach: If you want to know where the market is going, watch the bitcoin

The popular investor Jeffrey Gundlach has a message to investors: if they want to know where the stocks and indices are going, look at the bitcoin.
Strangely, but the bitcoin seems to be a child of social and market moods, said Gundlach in an interview with CNBC's financial magazine. According to him, if the shares are headed for a new stroke, this will be preceded by a decrease in the cost of the bitcoin.
Earlier this week, we witnessed extremely volatile stock market volatility, which momentarily took the indices into a correction phase. These sales, however, were preceded by a depreciation of the bitcoin.
We had a vertical rise in the bitcoin, which started at 4,500 and led the cryptocurrency to levels of about $20,000. The bitcoin found its peak in December and then collapsed. This collapse, to a certain extent, predicted the forthcoming volatility of the stock markets. If the shares are expected to suffer a new serious drop, it would be preceded by a depreciation of the bitcoin, according to Gundlach.
Even strange, Gundlach defines this dependence as quite convenient to use to predict market movements. In fact, the sentiment on the bitcoin and other speculative assets can be used by investors to predict future market movements, according to the legendary investor.

M. Carney: The Bitcoin Has Failed

The bitcoin failed as a currency and is neither a way to preserve value nor a convenient way to buy things, said Mark Carney, the head of the British Central Bank.
According to him, it can be said that, to a great extent, the bitcoin has failed so far in terms of traditional aspects of money. It is not a means of preserving value because of its extraordinary volatility. No one uses it as a asset for goods exchange, said Carney to students at a London university.
However, crypto-technology that stands behind the bitcoin may still be useful as a way to verify financial transactions, Carney said, answering a question.
The head of the British Central Bank also said that in order to move as smoothly as possible to leaving the EU in March 2019, British regulators intend to give financial institutions the benefit of suspicion to the last minute.
The movements of the British pound are largely determined by speculation about the UK's leaving the EU's borders and how smooth this process will be.
According to Carney, everyone is focused on BREXIT. However, this is unlikely to be a difficult and legally binding process. Still, if 28 leaders unite for something that has a legal text related to it, what the exit agreement will be, then that will be good enough, said Carney.
Carney's comments became reality in a series of questions and answers, in a speech in which he called for financiers not to be motivated in their decisions, only driven by profits.

The bitcoin tested $10,000

In the last two days, the bitcoin and the other cryptocurrencies have risen. The largest in terms of market capitalization cryptocurrency went back over the psychological limit of $9,000 and was on the brink of testing the key level of $10,000.
From the outcome of this test will depend the future direction and movement of the bitcoin, according to market observers. On the one hand, an unsuccessful breakthrough and retention above $10,000 can restore the drop in full force.
On the other hand, if we see the psychological limit of $10,000, the increase in cryptocurrency may continue and even we could see $12,000 in the mid-term, according to technical analysts.
Otherwise, the bitcoin reached yesterday a 11-day peak, at a level of $9,725. After reaching the lowest value of just over $6,000 at the beginning of February, the cryptocurrency is in a sustained phase of increase.
Investors' concerns about potential interference and regulation of cryptocurrencies have lowered, which in practice has contributed to the rise of the bitcoin.
On Tuesday, Peter Boockvar of the Bleakley Financial Group was another investor who described the bitcoin as an "absolute bubble" in an interview with CNBC's financial magazine.
For other cryptocurrencies, the ethereum increased by 4.7% to 891 dollars, and the bitcoin cash was up 3.8% to $1,296. Lighthcoin was the biggest winner among the cryptocurrencies, after rising from 23 percent to 196.95 dollars, while the ripple added 3 percent to its value to 1.07 dollars.
Statistics, however, suggest that investors may have missed the rise of the bitcoin by nearly 50 percent of its bottom, given the record low trading volumes that are the lowest since July 2017.

Carl Icahn: The bitcoin and the other cryptocurrencies are ridiculous

The last expert to comment on the bitcoin and the other cryptocurrencies is investor activist Carl Icahn. He said, that the bitcoin and the other cryptocurrencies are ridiculous and he would not approach them.
"Maybe I'm too old for them," Icahn said. "But I would not have touched these things."
The negative comments of the billionaire investor became a reality in front of the CNBC financial magazine.
"I'm not playing the cryptocurrencies, maybe just because I do not understand them," added Icahn in the special TV interview. "How are these currencies regulated?"
"Maybe I'm too old for them," Icahn explained, "but I just would not touch those things."
The bitcoin recovered from its three-month minimum on Tuesday, reaching levels of about $7,000. Earlier in the day, cryptocurrency dropped momentarily below the psychological limit of $6,000.
Despite the great popularity of the bitcoin, more and more well-known investors and analysts are critics of the bitcoin and other cryptocurrencies.
During the Davos Economic Forum in Switzerland last month, the bitcoin was severely criticized by many business leaders.
Jamie Dimon said the bitcoin would never be a major competitor to the dollar. According to him, however, blockchain technology can serve for greater efficiency in financial transactions.
Last month, billionaire investor Warren Buffett said he believed that the recent madness of the bitcoin and the other cryptocurrencies would not end well.
At the end of last year, Icahn said that the bitcoin "looks like a balloon."

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T. Lee: 2018 may be the year of the bitcoin rotation

If you have missed the rally in bitcoin and other cryptocurrencies, maybe this year is good to target smaller cryptocurrencies like stellar and neo, according to strategist Tom Lee.
Tom Lee, was one of the most bullish analysts in the past year, predicting a $22,000 rallying price when the bitcoin traded at just $4,000.
Now, however, Lee thinks the other cryptocurrencies will increase their value much faster than the bitcoin this year, at a time that Lee calls the "Great Crypto Rotation."
"The rotation we are talking about will be on the smaller altcoins and the tokens of the big platforms," ​​Lee said.
Lee, however, does not believe that the upside potential of the bitcoin is exhausted. According to him, the most popular cryptocurrency, still has the potential to rise to $25,000 by the end of the year.
"We think the year 2018 will be the year of rotation," explains the expert in front of the CNBC financial magazine.
Lee is the founder and head of Fundstrat Global Advisors, as well as one of the earliest Wall Street investors in cryptocurrencies.
As smaller cryptocurrencies, Lee targets those with a market capitalization of less than $3 billion.
The bitcoin, though the most popular among the cryptocurrencies, suffered a heavy drop in the last month and a half. After reaching a record high of $19,500 in December, the cryptocurrency lost nearly half of its value, dropping momentarily below $10,000. Currently, the bitcoin is traded at levels of about $11,000 per coin.

GS: Cryptocurrencies and loans will overshadow US growth (2)

Goldman is not the only financial institution that warns of "red flags" in cryptocurrencies. JPMorgan Chase & Co. executive Director, Jamie Diamond, has already described the bitcoin as a "scam". He said the bitcoin is a "highly speculative asset".
The bitcoin was determined by Japanese central bank chief Haruhiko Kuroda as a speculative tool.
Positive impacts are expected to be in the direction of initial housing, which will continue to have a good impact on the labor market.
The growth in pay for US workers is expected to accelerate and lead to an increase in inflation. The latter is expected to rise from its current levels to 1.5% and to reach 2% target from the Fed.
Markets are expected to start betting for more rapid interest rates next year, GS said. At the moment, two interest rates are pledged, but over time, market participants can expect to see three. And the Fed can surprise them with even more aggressive actions.

Volatile crypto

The US investment bank, Goldman Sachs Group Inc., is preparing a trading desk to become a market maker for cryptocurrencies trading, according to sources.
Such an action would not be a big surprise, given the comments coming from the bank and related to cryptocurrencies, over the past few months.
According to the same sources, GS aims to enter the business with a bitcoin by the end of June next year.
Meanwhile, cryptocurrencies prices continue with their incredible volatility. The bitcoin lost nearly 15 percent of its value last week, the bitcoin cache also hit serious losses after it added 40 percent to its value and reached levels over $3,700 for a coin.
To a new historic record rose and the ripple, which overtook the psychological limit of $1, reaching levels of about $ 1.10.
With about 10%, the price of the lightcoin has fallen. It traded before Christmas at levels of about 280 dollars per coin. Pressure on the cryptocurrency appeared after the news that the lightcoin founder had sold all his coins.

Jamie Dimon: I'm open to cryptocurrencies... But regulated!

The bitcoin is everywhere in the news and in the media. Apparently this puts a serious strain on Jamie Dimon, who, apart from being terribly wrong in his forecast for the bitcoin (at least for now, claiming it is a balloon that will end up much worse than tulip mania) when it was 6000 dollars, said he would have fired each of his company, which traded with cryptocurrencies.
Goldman Sachs, which are expected to be one of the major market makers of the bitcoin and other cryptocurrencies, have benefited from this.
Dimon, said he was still skeptical about his bitcoin and its future, but he had definitely softened his tone.
Dimon's last comments are definitely far more different than before. About a month ago, he said that if you're stupid enough to buy it, you'll pay the price for it one day, when the price of the cryptocurrenciy was about $5,800.
Since then, the bitcoin has risen to more than $19,000, last trading at just over $15,000.
Although Dimon said in September that the bitcoin was a scam, he did not even deny that the cryptocurrency could safely rise to $100,000 before it reached its peak.

GS: The bitcoin is a raw material

The bitcoin is more like gold than the US dollar, according to Jeff Curry, head of the Goldman Sachs State Investment Bank unit, in a special interview for Bloomberg TV.
The bitcoin does not have the same amount of liquidity as gold, which is the main difference with the metal.
According to Curry, the price of the bitcoin is determined by the market and is not supported by a government, public or private company, just like gold.
Of course, the bitcoin is much more volatile than gold, and Curry explains that liquidity is the main reason for that. There are $8.3 trillion amount of gold worldwide, while the market capitalization of the bitcoin is close to $165 billion, making it much less liquid and more volatile.
Curry's comments come true after the cost of the bitcoin reached levels of more than $11,000, and then fell only a day later to less than $10,000. They come at a time when Goldman Sachs chief Lloyd Blenkheim said he is still considering the possibility of a bitcoin.
The meteoric appreciation of the bitcoin raised public interest in cryptocurrency to record levels.

Deutsche Bank: Watch out for the bitcoin

Deutsche Bank's traders warned their clients to avoid the bitcoin as an investment. Thus, the largest German bank was another major financial institution that indirectly declared war on the cryptocurrency.
Ulrich Stefan, chief investment strategist at the German bank, just would not recommend this to the daily investor, as he said  yesterday.
Stefan has argued that volatility or changes in bitcoin prices are too great, and the regulation of the instrument is too low. He added that German investors are not among the most active in cryptocurrencies so far, but the chimeras associated with the bitcoin are becoming more and more intense.
The bitcoin went beyond the psychological level of $8,000 for the first time during the weekend, and since then has traded permanently above that limit. Its latest trading levels are about $8,200. Increasingly, experts are expecting the cryptocurrency up to $10,000, or even more.
It should be borne in mind, however, that since the beginning of the year, the bitcoin has risen eight times. This has led to repeated warnings that the digital currency is a balloon, including renowned names in the financial world - like Jamie Dimon.
However, individual investors, as well as some hedge funds, are increasingly looking at the bitcoin.
The Swedish Central Bank, for example, is one of the organizations that look at the potential of block technology, its possible wider implementation.

L. Fink: Anonymity is at the heart of bitcoin's success (2)

Fink has defined the bitcoin as a very speculative investment. More importantly, however, this is one tool people use for money laundering, according to the expert.
Bitcoin value fell 29 percent from its peak on Nov. 8, at $7,888, after canceling the planned "hard fork" on the cryptocurrency. The rallying of the bitcoin has led many people to begin to say that the bitcoin is a balloon.
Part of their loss, the bitcoin neutralized on Monday. Even despite its decline, the cryptocurrency has risen more than six times since the beginning of the year.
Fink however warned that most investors with long time horizons that hold "record amounts" off the market should rather focus their attention on more traditional assets such as stocks and bonds.
The bitcoin is small in the financial markets, Fink says. The focus is too much on the bitcoin, the expert added. The financier spoke that he did not understand why all this media attention to the bitcoin was.

L. Fink: Anonymity is at the heart of the bitcoin's success (1)

One of the most influential financiers in the world - Larry Fink, CEO of BlackRock Inc., said o Monday that the anonymity lies in the basis of bitcoin's success.
The value of bitcoin fluctuated seriously in the last month, as it remains a "speculative investment," Fink said. In fact, Fink is one of the few Wall Street bankers who are not as negative about the cryptocurrency.
We can only recall Jamie Diamond's comments that the bitcoin is a fraud and a bubble that will not end well.
According to Fink, whose company manages assets worth $6 trillion, the reason for the exceptionally good performance of the bitcoin is its anonymity. Anonymity, coupled with the ability to cross borders. In the opinion of the financier, if the bitcoin is legalized, it will be known who is the counterpart, the question is how many people will use it if you need to identify yourself as a buyer or seller.

A 20% drop in the weekend for the bitcoin

The increase in the cost of bitcoin cash happened in an environment of sharp drop fro the bitcoin. The oldest cryptocurrency lost nearly 20 percent of its peak at $7,900, trading at the minimum of about $6,300 in the weekend.
Trade was tense for the other cryptocurrencies. The ethereum traded stabely at levels of about $300, unable to find a way up until the ripple returned some of the earned and exchanged just over 20 cents a coin.
Now the question is how the news about futures on bitcoin will be reflected on the currency and the fact that GS are clearly preparing to become market makers on the position ...
Will the bitcoin continue to rise, and how much will it cost to pay? When will the ripple start to rise?
Early on Monday morning, the bitcoin cash was traded at levels of about $1,200 for a coin.