Latest technical analysis on top 9 cryptocurrencies from an expert trader. The market data is provided by the HitBTC exchange.

A prominent economist, author of “When Markets Collide,” and “The Only Game in Town” Mohamed El-Erian thinks cryptocurrency is the future and that it will be government-backed. We believe that most top digital currencies will survive this bear market and the traders should view the current fall as a buying opportunity instead of fearing it.

Sygnia Asset Management, a major South African investment firm with $14.5 billion under management, is launching a cryptocurrency exchange in late 2018. It will also create a fund to invest in digital currencies on behalf of its clients.

We are clear that Bitcoin can be purchased on dips because it offers a great risk to reward ratio if purchased anywhere between $6,075 to $7,000. We believe that it is in consolidation, as long as it stays above $6,075.

A break of this level will be negative and will attract further selling. We had recommended buying the leading cryptocurrency on a sharp fall below $7,000 in our previous analysis, but the bulls held on to the $7,100 levels on May 28 and May 29. Read more from cointelegraph.com…

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