Market review, April 13, 2020

2020-13-04 13:25:13

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):

Market review, April 13, 2020

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):

Market review, April 13, 2020

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):Market review, April 13, 2020

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.

Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
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