Analysts note that Bitcoin and Ethereum can win back the fall within ten days and grow to $48500 and $3630, respectively, despite the ongoing investigation of the US Securities and Exchange Commission (SEC) and the problems in El Salvador. The current price of Bitcoin is $46180, Ether – $3407. According to forecasts, by the end of next week, the price of Ether may reach $3630, and the current price can be considered quite acceptable for purchase. In this case, the stop order should be placed at the level of $3250. Analysts emphasize that significant support levels have been reached in Ethereum, from which a new growing trend will be formed further. The decline in the cryptocurrency market observed this week was caused by several factors. Bitcoin sank by more than 10% after El Salvador declared this coin an official means of payment. This led to the fact that rating agencies lowered the country's already low credit rating, and pointed to increased risks in the insurance industry of El Salvador. Moreover, the World Bank supported the position of rating agencies and refused to provide support to El Salvador in the field of using cryptocurrencies. Another factor of pressure on the crypto market was the SEC investigation against one of the largest decentralized crypto exchanges, Uniswap. In addition, the SEC threatened the American cryptocurrency exchange Coinbase with a lawsuit due to the launch of the Lend lending service by the platform.
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