Bitcoin Forecast October 31, 2018
Bitcoin markets did very little again during the trading session on Tuesday, as we continue to dance above major support. The $6000 level is the beginning of rather massive support, so I think at this point it’s likely that we will continue to just simply bounce around in this area. Quite frankly, this is a market that has no catalyst to go anywhere and now there is talk about the FCA in the United Kingdom banning crypto currency derivatives. While that doesn’t necessarily affect trade on the exchanges themselves, it will drive down a lot of interest by retail traders, who overwhelmingly trade the CFD markets. In general, it will drive down volumes even lower, and while we have been hearing about all of the institutional money flying into this market, it’s obvious that it hasn’t brought a lot of volume with it, which makes me a bit suspicious at this point.
for more analysis: http://www.dailyforex.com