Hello Dear Steemian,
This is to inform you that We have seen the Bitcoin bottoming out and it was clear hope to rise again. But it seems that it is fail to rise again.
It seems that Bitcoin will not reach new high this year
as there are so many reason for that-
- This Volume- The volume is the main reason seen in the market, as there is very thin volume in Bitcoin as well as the Alt coin Market specially on main exchanges.
- Second reason which seems to take the price back is Mining and Minors as the Bitcoin Price is very low and not rising- the Minors are blame to take them down*-
Ad the Mining cost is constantly going up and therefore they are taking the Bitcoin price down, if this will survive more one month then it looks very impossible to jump high this year.
- Low Retail Interest:
Bitcoin Price is mostly depend on retail Interest which is disappearing as the price of Bitcoin is most probably low and going down/
This affect the prices and not letting the bitcoin going up.
As the Retail Investors will come back this will again shoots up soon.
BITCOIN SPECULATION MARKET:
Since Bitcoin market has entered in the Future trade since that day Bitcoin is going down more than Up. Because BiG Institutional investors are playing this trade who are very strong and affect the Bitcoin price.
Because if the price goes up these investors make short sell in the market and let the price down again
