Zcash/Bitcoin Trading forecasts and signals

On the penultimate day of the working week, the cryptocurrency market shows a moderate decline. Bitcoin has been losing almost 5% over the past day and is trading around $33,500. Thus, the recent price rebound was almost completely compensated. The inability to overcome the threshold $40,000 dollars results in increased bear pressure. As before, the phrase “what does not grow – falls“ is extremely relevant for the crypto market. So far, the scale of the decline is not critical for the market, and a drop up to $30,000 will not mean a reversal of the broad trend. However, if we see a decline to $29,000 and below, this situation may well provoke panic sales. However, it is worth remembering: the more panicky we see sales, the more aggressive the purchases of hunters for discounts will be.The latest episode of the sale on the cryptocurrency market during the last quarter was associated with tough actions of regulators, the emergence of concerns about the possible curtailment of the incentive policy, loud populist statements regarding the non-environmental nature of bitcoin, as well as a decrease in institutional demand for digital currencies. Although sales have somewhat stabilized, the main cryptocurrency remains squeezed in the range between $30K – $40K.The hashrate of the bitcoin network has stabilized after a long period of decline due to the relocation of miners and the shutdown of equipment. Market participants assume that the most difficult moment after the statement of the Chinese authorities about the need for miners to curtail their activities in China has passed. At the moment, the computing power of the network is far from peak values. However, no one doubts that soon the miners will turn back on their equipment and the hashrate will begin to grow. This situation will bring the crypto market a more significant diversification of computing power, the distribution of mining plants around the world, but for China, the loss of control over the computing power of Bitcoin can turn into unpleasant consequences.Nevertheless, the country's authorities should have kept the competitor as close as possible, and not created conditions for even greater global attractiveness of the asset. After all, the more decentralized Bitcoin is, the higher its value in the long term. The relevance and need for Bitcoin is only growing as financial nuts are being tightened in all economies of the world. The world economy has very quickly gone from total globalization to a virtually global trade war. The policy of central banks gave birth to Bitcoin, which has undoubtedly become one of the iconic symbols of the new era and has the potential to turn into a separate ...