Cryptocurrency prices post declines on Monday after Japan’s Financial Services Agency (FSA) announcedthat it may conduct on-site inspections of domestic cryptocurrency exchanges in response to Coincheck’s $530 million hack. The Bitcoin price led the retreat with a five percent decline, and most other top-tier coins followed suit .
And also this decline is caused by the announcement of Russia that it may regulated bitcoin and crypto durring this year .
Picture from Coinmarketcap
After reaching 12500 USD yesterday, Etehereum made a small correction today and now it's trading around 1190 USD, also Litecoin is traded around 182 USD,after being traded around 192 USD yesterday, also bitcoin cash is traded around 1683 USD right now, after reaching 1700 USD yesterday .
itcoin is a facing a strong resistance line at 12000 USD, if it break this resistance the next target will be 13000 USD, then 13500, the strong support level of bitcoin is around 10000 USD, if BTC fall below this level, the next support line will be 85000 USD, but the bearish signals are more then the bullish signals on the daily chart of bitcoin .
Here the events durring the next month that can cause another uptrend or downtrend for the price of bitcoin :
The expiration of contracts for bitcoin futures
CBOE
January is already closed, the following dates:
February 14, 2018
March 14, 2018
April 18, 2018
Proof: http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures
CME Last Friday of the month at 16:00 Chicago time:
January 26, 2018
February 23, 2018
March 30, 2018
April 27, 2018
Proof: http://www.cmegroup.com/…/bitcoin_contract_specifications.h…
❗️Why should we know these dates?
Its is important for you to know this dates because, these events can have a strong impact on the price of coins and the general market as a whole.
Remember the effect of the CBOE's futures contract expiration on the market and prices of coins last week. This event caused a decrease in the price of BTC by 34.5% and market cap fell by 50%, from 840 billion to 420 billion in the same period.
So it is better we take note of these dates so as to better position ourselves in future.
Bitcoin chart from coinmarektcap