Btc forecast dec 2018

The month of November is now permanently etched in history of bitcoin as a dark page owing to historic decline in value since its debut. Multiple factors can be attributed to fall in value of crypto currencies; however the main reason for fall is huge volume of Bitcoin over the counter transactions by two parties who are at war over hashrate on BCH hard fork that took place at mid-November caused sharp slide in value which was further aggravated by after effects in form of regulatory crackdown, lack of retail activity and huge number of investors leaving the crypto industry in hordes which created a vacuum both in form of loss of volume and loss of activity in trading market eventually led to loss of over 40% in value in just single month.

BCH Hard Fork & Regulatory Crackdown Influenced Sharp Bitcoin Sell-Off

Trading session started for the month on neutral note as pair continued to move in range bound fashion above $6000 handle. Market volatility was already very low before the sharp decline in value of bitcoin. The price held steady within range of $6000 to $6500 handle for nearly 5 months and while there were several instance when prices climbed above $6500 mark the price action was never stable owing to lack of fundamental support which resulted in price coming back within above mentioned range limit. As investors grew tired of repeated price pattern which lacked opportunities for quick profit amid dull, long and slow paced consolidation, eager traders who are looking for new markets to push their funds into decided to limit fund flow toward bitcoin. Meanwhile lack of volatility also resulted in day traders and the speculators from last year’s crypto boom abandoning bitcoins owing to lack of investment and lack of market’s motivation to see bitcoin back near 2017 highs.