Technical analysis of market rates of Bitcoin shows that the most popular cryptocurrency can collapse even more, up to 2.8 thousand dollars.
Graphs of the average 50-day and 200-day values can intersect, forming the so-called “death cross”. The latter represents a clear signal to a sharp decline. According to the analyst of the investment company Market Securities Dubai, Paul Dey, in comparison with the indicators of the end of February, the cryptocurrency should fall by 76 percent. At the moment, Bitcoin costs about 8100 dollars.
On March 14, Europe’s largest insurance company Allianz expressed the opinion that the bubble in the Bitcoin market would burst sooner or later. The insurer’s management believes that the real cost of Bitcoin is zero.
On March 13, investment bank Goldman Sachs warned that in the near future the cost of Bitcoin would fall below the February lows and could drop to a mark of five thousand dollars.
In December 2017, Bitcoin reached the highest mark in history – almost 20 thousand dollars, but in early 2018 all the cryptocurrencies began to drop sharply. Now it has stabilized at a level above eight thousand dollars.
Though the crypto market is still relatively new and lacks many of the traditional institutions of a civilized market, there are projects on the market that seek to indemnify or mitigate the associated risks that investors take when deciding to invest in projects. Cryptics is one such project that seeks to offer the necessary instruments for alleviating the situation with uncertainty. The concept behind it is to support market participants by providing liquidity on exchanges and a safety cushion for retail investors by creating a platform that connects market players and develops algorithms to predict changes in the value of cryptocurrencies. Such instruments based on highly advanced scoring models involving machine learning and AI are incomparable with human intuition that even the luckiest and most prudent investors could ever be endowed with. The multitude of factors involved in predicting a cryptocurrency’s rise or fall are all taken into account by the algorithms that Cryptics employs. Investors should consult such projects as the expense is well worth the ensured profit and peace of mind.