The expert announced the correction phase of bitcoin quotes after the peak of $ 123 thousand.

The correction phase continues in the bitcoin market after the quotes reach summer and historical highs at the level of $ 123 thousand per coin. Alexander Schneiderman, head of Alfa-Forex's Customer Support and Sales department, told Izvestia on September 26.

"The main factor in slowing down the long-term growing trend of bitcoin was the decrease in its overall dominance over other cryptocurrencies from 66% to 57%. The benchmark is becoming too expensive for average investors who remain optimistic about the development of the global crypto industry and are looking for an alternative to investing in top altcoins," said Schneiderman.

He added that the main growth drivers related to the intention of the new US administration to promote the development of the bitcoin market have now been played out. This encourages large market participants to take profits.

"Against this background, until the end of next week in early October, we expect continued fluctuations in quotations in the range of $ 107.5 thousand — $ 115 thousand with the risk of expanding the lower limit in the direction of $ 105 thousand," the specialist said.

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How can this affect the market and the number of players?

On September 25, it was reported that Russia is discussing the possibility of clarifying the legal regulation of judicial protection of digital currencies. As Marat Amanliev, managing partner of the Right Side law firm, told Izvestia, he filed a complaint with the Constitutional Court of the Russian Federation, challenging the refusal of judicial protection of the rights of owners of cryptocurrencies due to failure to notify the Federal Tax Service.

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