Categories: Crypto Review

Bit-comment: Bitcoin declines to USD and other altcoins

Bitcoin remains locked in the price range around $8.5K, while the impulses that allowed the benchmark cryptocurrency to bounce sharply from $7.5K have disappeared. No one hoped for China as a “good fuel” for the sustainable growth of the asset seriously, but the news in the form of a statement by the head of China turned out to be loud and bright.

Now China takes a controversial approach: on the one hand, it tries to increase the “crypto literacy” of the country’s residents by publishing articles, on the other hand, it reminds of a severe reaction in case someone decides to try crypto trade.

The Bitcoin dominance index declined further to 65.9% at the beginning of the new week. The process is entirely predictable, as in a broader perspective there are few reasons to expect a repeat of the summer highs test. Investors are diversifying their investments, as in the historical perspective, altcoins are at rather low price levels.

The FxPro Analyst Team

The FxPro Analyst Team

Our team consists of financial market experts. Our dedicated professionals prepare reviews on the foreign exchange market situation, Crude Oil, Gold and Stock Indices. All the analysts are regularly published in the world leading economic media.

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