The expert assessed the prospects of bitcoin in the coming weeks

Bitcoin has reached a key resistance zone that can determine the future direction of the market movement. If the cryptocurrency gains a foothold above the level of $ 63.5 thousand, the path to growth in the range of $ 68-70 thousand will open.. Otherwise, the current upswing risks remaining only a technical rebound. Kirill Komalenkov, Director of Strategic Communications at Bitbanker, told Izvestia about this on July 6.

According to the expert, after the rebound from the $57.8 thousand mark, buyers managed to return the price above $63 thousand, but it is the range of $63-63.5 thousand that is now the key for the market.

"If buyers can confidently gain a foothold above $63.5 thousand, the market will receive a strong bullish signal. In this case, the next target will be the $68-70 thousand zone," Komalenkov said.

Block whose: authorities will limit investments in "unfriendly" cryptocurrencies

The introduction of mandatory fees is being discussed for particularly risky assets — their issuers may block access to money.

At the same time, the expert considers it premature to switch to aggressively optimistic expectations. In his opinion, the current range remains attractive for profit taking and opening short positions.

If buyers fail to maintain the level of $ 63.5 thousand, the most likely scenario will be a resumption of the decline. In this case, the nearest targets for bitcoin will be $61 thousand and $58 thousand.

In the longer term, Komalenkov still allows for a decrease in the value of the first cryptocurrency in the region of $ 47-50 thousand. According to him, it is this range that can become a zone of formation of new interest in digital assets from both institutional and private investors.

Deputy Finance Minister Ivan Chebeskov announced on June 16 that unqualified investors in Russia will soon be able to legally buy bitcoin, ether and popular stablecoins. After almost 10 years of discussions and disputes, including the idea of a total ban, the authorities are moving to comprehensive regulation of the cryptocurrency market.