Bitcoin’s price continues its decline for the seventh day in a row. Strong economic data, which was published yesterday, pushed up BTC price a little but it’s too early to speak about the resumption of price growth.
After the slight decrease that we have seen over the past two days, the Bitcoin price returned to a level around $660. At the moment, this level supports the price and doesn’t let it to move down. The lack of sellers in the market, speaks to the imminent resumption of the uptrend.
Bitcoin price last week remained mostly stable, as small fluctuations up and down did not change the situation. Macroeconomic news, which gave a favorable backdrop for risky assets also did not affect the movement of Bitcoin price.
Altcoin trading activity on the markets is gradually reducing. Some investors believe that investment in risky assets such as altcoins is not justified in an unstable economy. Others fear that the majority of new altcoins subsequently will be scams and they will lose money.
Bitcoin price movement has gone quiet and isn’t moving neither up nor down. But today, the situation may change. Macroeconomic news from the US and Europe could cause fluctuations on the currency market and will give an impetus to Bitcoin price growth.