Bitcoin is expected to fall down to $7,800, Sweden wants to issue a digital crown, and halving of a reward may fail to meet bulls’ expectations

Will bitcoin drop down to $7,800? Expert’s opinion

Omkar Godbole, Coindesk portal’s chief analysists points out that the weekly chart indicators are calling a deeper drop. According to Godbole, BTC can fall down to $7,750.

Today bitcoin has lost about $130 in price and now is trading at the mark of $8,060.

Sweden is planning to issue a digital crown

Stefan Ingves, the Governor of the Central bank of Sweden said that the authority is considering launching a digital equivalent of a crown. They were urged to do that by the Facebook’s cryptocurrency Libra, which became an “incredibly important catalyst” and make the world’s central banks think about their activity, Ingves said.

The second reason is a dramatic decline in the use of cash in the country. The pilot project can be launched already this year.

Bitmain’s co-founder: halving can lead to bitcoin’s drop in price

Jihan Wu, co-founder and ex-CEO of Bitmain, is “pessimistic” about the prospect of a price surge after the halving in May 2020. According to him, people started to bet on the price growth in advance, and due to that the market can show the opposite effect.

Wu also pointed to Litecoin, that plunged two-fold after its halving in August this year.

Exchanger monitor

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store