According to Arthur Hayes, CEO of the BitMEX, the Bitcoin exchange rate is likely to fall again to $3,000.
Hayes believes that the securities market can fall sharply, and pull along all other markets, including cryptocurrency. Given that the recent decline in Bitcoin on March 12-13 correlated with the securities market, the price of the first cryptocurrency could drop to $3,000.
Note that many analysts expect large-scale price fluctuations of Bitcoin. So, according to Chamath Palihapitiya, CEO of Social Capital, Bitcoin may well reach $1 million in the long term, but you should not expect it to replace fiat currencies.
Technical analysis of Bitcoin (BTC):
Over the past weekend, the price of bitcoin was volatile. First, it grew to the resistance level of $7,215, then it dropped to the support level of $6,560. Now, the price of bitcoin is $6,690. In the future, we predict the continuation of the negative movement. The nearest resistance levels are $6,900, $7,200, $7,450, $7,660, $8,000, $8,020, $8,140. The nearest support levels are $6,400, $6,100, $6,000, $5,780, $5,450, $5,000.
Technical analysis of Ethereum (ETH):
Over the past weekend, the price of ethereum fell to the support level of $152. Next, it rose to the resistance level of $164. Now, the price of etherem is $153. In the future, we predict the continuation of the negative movement. The nearest resistance levels are $153, $156, $161, $166, $169, $174, $176, $183, $200. The nearest support levels are $150, $142, $140, $137.
Technical analysis of Ripple (XRP):
Over the past weekend, the price of ripple fell to the support level of $0.1810. Next, it rose to the resistance level of $0.1950. Now, the price of ripple is $0.1820. In the future, we predict the continuation of the negative movement. The nearest resistance levels are $0.1860, $0.19, $0.1950, $0.2050. The nearest support levels are $0.1820, $0.1770, $0.1750, $0.1680, $0.1570.
