The expert predicted the growth of bitcoin to $ 68 thousand.

In the global cryptocurrency market, bitcoin may continue its gradual growth towards $65.5–68 thousand in the second half of July, provided that the key support level remains. Kirill Komalenkov, Director of Strategic Communications at Bitbanker, told Izvestia about this on July 20.

The forecast is based on the dynamics of the bitcoin price from July 15 to July 19 and technical analysis data. After the fall and subsequent recovery, the main cryptocurrency is trading around $64.2 thousand again, which the expert regards as consolidation after the correction. The key support zone is in the range of $63.8–64 thousand.

"If in the coming trading days the price of the main cryptocurrency can return and gain a foothold above $ 64.8–65 thousand, then the immediate goal is to retest $ 65.5—66 thousand," Komalenkov said.

According to him, as long as bitcoin remains above the level of $63.8–64 thousand, buyers retain the initiative.

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With increased pressure and a drop below $63.8 thousand, a rollback to $62.5–63 thousand is most likely, followed by a recovery. At the same time, in the second half of July, the technical picture remains neutral and positive: volatility persists, but there is still no deep decline in the value of the cryptocurrency.

"A confident breakdown of $66 thousand further opens the way to $ 68-70 thousand," the expert noted.

He called the price retention above $63.8–64 thousand, further consolidation and gradual growth to the range of $65.5–66.5 thousand the main scenario for the remaining days of July. With a favorable momentum, bitcoin can rise to $ 68 thousand.

To move to a full-fledged uptrend, bitcoin needs to confidently overcome the $68-70 thousand level and gain a foothold above it. Up to this point, there remains a risk of a deeper correction in the value of the cryptocurrency in the range of $ 55-60 thousand.

Deputy Finance Minister Ivan Chebeskov announced on June 16 that unqualified investors in Russia will soon be able to legally buy bitcoin, ether and popular stablecoins. After almost 10 years of discussions and disputes, including the idea of a total ban, the authorities are moving to comprehensive regulation of the cryptocurrency market.