01.08.201807:41 Forex-elemzések és áttekintések: Bitcoin analysis for 01/08/2018

Recent IW Capital research has shown that 38% of Britons do not know basic knowledge about cryptocurrencies. What's more, only 5% of the surveyed investors admitted that they actually made a profit. The general manager of the investment fund found this to be very worrying.

The report assumes that the vast majority of the community investing in the UK believes that investing in cryptocurrencies is a worse decision than investing in traditional markets.

The investment house was attended by 2,0007 respondents, 38% of whom said they did not understand cryptocurrencies. In addition, one-third of respondents have the impression that the alleged bitcoin bubble will soon break, while only 7% believe that cryptocurrency investments are better than traditional channels.

According to research, only 5% of cryptocurrency investors made a profit - statistics probably distorted by the fact that more than 2.5 million Britons carelessly invested in the crypt without a full understanding of investment, which is the fastest way to lose money, especially on the bear market.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has broken below the level of $7,752, which acted as a lower boundary of the consolidation zone and currently is heading towards the next important technical support at the level of $7,176. In a case of a breakout below this support, the next important level to keep an eye on is the level of $6,782. If this level is violated, then the impulsive scenario to the upside is invalidated and the market will continue to drop lower towards the swing low at $5,742.