Bitcoin traders sold during the trading session in early hours on Thursday and also today, as it will continue to drift much lower. The Bitcoin markets have struggled lately, breaking through several major barriers, this time breaking through the $7800 level, followed by the $7200 level and then major drop at $6600; and now trading at $6900.
During the last two days, it’s been seen that after every drop there comes a support level as shown in the graph. Still, it is predicted that Bitcoin will decrease below the line $5000. But, if we see the after the drop; it still maintains to be close to $7000 region. In this case the max rise will be seen at $7200. The market cannot seem to find solid ground, and because of this it makes sense that we will continue to favor selling rallies as Bitcoin has shown no strength of significance lately. The market has a certain amount of support near the $7200 level, but it is likely that we may even break down below there.
Few factors are affecting this price range; two cryptocurrency exchanges in Japan are reportedly set to cease operating amid growing scrutiny from regulators in the wake of a $500 million theft. Also, the banning of cryptocurrency ads on social media affected the market and created a panic.
CREDITS “CS” on KuCoin shows the stability and attracting the investors day by day. In this downtrend market “CS” is showing a good trade rate and a green signal to come and invest. Many funding organizations are now interested to be a part of CREDITS and secure their investments. In the past days, it shows the up trend and raise to 30% and still at the stability level. After the release of pre-beta version of the platform, CREDITS investors community is now showing more trust and keeping the tokens until the final release in near future.