HelenRush

Bitcoin: recovery attempts attract sellers

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
After tentative recovery attempts, bitcoin is falling again. Today, the price dropped from $11,584 to a low of $10,228. Though the volatility has declined lately, and the cryptocurrency reacts to negative news not so emotionally as before, the market stays depressed overall, on the back of increasing pressure from regulators around the world.
As the latest sign of further crackdowns, Britain’s Prime Minister Theresa May has threatened to take drastic measures on bitcoin trading due to concerns that the virtual currency is being used by criminals. Moreover, the International Monetary Fund chief Christine Lagarde said action is needed on this front, citing bitcoin’s links to crime, while French President Macron called for regulating cryptocurrencies at the international level.
The governments’ and regulators’ tough stance on the digital currency market implies that the overall sentiment will remain subdued in the medium term. Therefore, any attempts to recover above the $13,000 threshold will likely further attract sellers in the nearest future. At the same time, the short-term bearish risk is limited as long as bitcion is trading above the $9,150 area.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out