{"id":248427,"date":"2018-05-31T07:30:33","date_gmt":"2018-05-31T05:30:33","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=248427"},"modified":"2018-05-31T07:33:30","modified_gmt":"2018-05-31T05:33:30","slug":"bitcoin-could-fall-to-2800-by-the-end-of-the-year-analyst","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/248427\/bitcoin-could-fall-to-2800-by-the-end-of-the-year-analyst\/","title":{"rendered":"Bitcoin could fall to $2,800 by the end of the year: analyst"},"content":{"rendered":"
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The biggest cryptocurrency has renewed its flirtation with the $7,000 price level.<\/p>\n

The slide has helped to also send other digital assets into retreat, with Ethereum, Ripple and Litecoin all lower on Wednesday.<\/p>\n

Since failing to regain the psychologically important $10,000 level on May 4, it has closed lower in New York in 12 out of 17 sessions.<\/p>\n

The hype surrounding last year\u2019s hottest asset class have faded in 2018, with fewer online searches and more pressure for regulators, with technical analysts saying the decline replicates the pattern seen following the collapse of the Mt. Gox exchange four years ago.<\/p>\n

\u201cThe emotions are no different from the last time this happened, it\u2019s just a different set of people going through it,\u201d said Paul Day, a technical analyst and head of futures and options at Market Securities Dubai Ltd.<\/p>\n

\u201cWe could go down a long, long way.\u201d<\/p>\n

Bitcoin on Friday dropped below its average over the previous 252 days, roughly equal to the number of trading days in a year.<\/p>\n

This could mean that the next leg lower is already underway, with the price heading for $2,800 by the end of the year, Day said.<\/p>\n

\"\"<\/a><\/p>\n

\n

Read: Bitcoin bounce as it climbs from three-week low<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The biggest cryptocurrency has renewed its flirtation with the $7,000 price level. <\/p>\n","protected":false},"author":59,"featured_media":208605,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[5537,26],"class_list":["post-248427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bitcoin","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/248427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=248427"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/248427\/revisions"}],"predecessor-version":[{"id":248441,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/248427\/revisions\/248441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/208605"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=248427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=248427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=248427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}