Buyers stopped the decline in bitcoin at the threshold of $10K. On Thursday morning BTC trades around $10,100. The minimum level during the day was at $10,013, the maximum at $10,212. The dominance index reached 70% again.
Recently, Bitmain started selling 64 TH/s and 53 TH/s Antminer ASICs. The chips provide more power and consume less, so the BTC network power will continue to grow in the medium term, although it is already at its historic maximum.
As for the price of Bitcoin, leading experts point out that it may take longer to reach new highs, while the cycles themselves will become much wider and more stable due to increased market capitalization. Nevertheless, the crypto market will be able to gain the properties of the traditional one, attracting large players and getting a more favourable attitude of regulators, who will not consider it only from the point of view of the extremely volatile asset.
The FxPro Analyst Team
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