Bitcoing is seeing its new lows, both in terms of price against usd as well as trade volume, dropping about 16.9% in a continued trend.
Cryptocurrencies aregoing through a difficult period as the the Bitcoin Cash hard fork is talk of the town. Need to remind investors that other coins may take a similar course, leading to potentially larger losses in value.
Fewer and Fewer people are forecasting a positive picture and even if it did, it will take months before the recovery to last year's high. More and more persons are directing them towards altcoins. Miners are holding the head high and holding the currency.
On a positive side, BTC still remains as the benchmark of a cryptocurrency.
Resistances at USD 6200 and 5800 are predicted, indicating return of buyers, however trade volume does not increase too drastically.
NOTICE: Please take a professional advice prior to making investment decisions.
