HelenRush

Bitcoin can’t stop bleeding

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD is extending its bearish move on Friday, finishing March with losses of 40%. The downside pressure has intensified following a break below the $8,000 mark, and after failed attempts to regain this threshold, the bulls had to give up. The price was testing early-February lows below $6,600 in the morning, now and attempts to cut losses and climb back above $7,000 which is the immediate local resistance.
The regulatory pressure on the industry has increased substantially recently. In another bearish sign, two more Japanese crypto exchanged had to cease their operations this week as both companies failed to secure a license from the nation’s Financial Services Agency. And more to come, with the regulator issues warnings to other trading platforms. The “Japanese factor” is a substantial blow for the cryptocurrency market as this is one of the countries that fuelled the crypto mania last year.
Twitter’s decision to block crypto ads following similar steps from Google and Facebook , and Bank of Montreal’s resolution to ban its customers from using accounts to transact with cryptocurrency merchants, add to the gloomy short-term picture. Against this background, the downside risks for BTCUSD persist. At the same time, bitcoin will hardly severely extend its current bearish wave as some buyers may start to emerge and prevent it from crashing below $6,000 where fresh early-February lows lie.
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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out