Manoj B Rawal
Independent Analyst
- More than half market cap lost in first quarter.
- Key technical fight between bulls and bears would decide future trend.
Bitcoin the king, lost more than half of its market capitalisation in the first quarter of 2018 after a stellar 2017 that saw prices rise more than 2000 percent in a bubble like flare up. Can it regain its lost momentum or would it continue to go downhill is something a very technical question.
As reported by this author in the last two days, BTC has an epic battle between bulls and bears wherein it could easily lose half of its value from current levels or reach past its all time highs, all in quick time. (Read those stories here and here)
BTC is trading up 0.2 percent at $6,950 and facing resistance at $6,975 and $7,160 levels on the intra day charts while the supports are around $6,739 and $6,554 levels. For bulls, though $8,000 - $8,300 levels needs to cross to win over bears while for bears to gain control, $5,800 - $6,200 is key area.
BTC/USD daily chart:
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple Price Prediction: Whale accumulation sparks hope as rising exchange reserves signal caution
XRP sustains mid-week recovery as XRP/BTC flashes golden cross for the first time since 2017. Large volume holders increase XRP exposure, indicating rising demand and investor confidence.
Pi Network Price Forecast: PI eyes $0.66 as whale activity surges
Pi Network (PI) declines by nearly 4% on Friday, trading at $0.79 at press time. The technical outlook suggests a downward move ahead as the short-term recovery concludes with a trendline breakdown.
Bitcoin Weekly Forecast: BTC enters full price-discovery mode after seven straight weeks of gains
Bitcoin price stabilizes around $111,000 on Friday after reaching a new all-time high of $111,900 this week. Corporate accumulation, institutional demand, signs of easing regulations and fiscal woes in the US have fueled BTC’s rally.
Jupiter Price Forecast: JUP eyes $0.82 as Fluid backs Jupiter's upcoming lending protocol
Jupiter exchanges announced the upcoming launch of Jupiter Lend, powered by Fluid, on Solana this summer. With the announcement of Jupiter Lend, the JUP token surged 16% in the last 24 hours.
Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand
Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.