HelenRush

Bitcoin: another stab in the back

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Cryptocurrencies continue to retreat at the start of a new trading week following sharp losses on Friday, with bitcoin             is trading dangerously close to fresh November 24th lows below the $8,000 threshold. Any attempts to regain the upside potential face strong headwinds amid the never-ending woes in the volatile market.
In another blow for bitcoin             , major US credit card companies have banned cryptocurrency purchases with credit cards in an effort to decrease legal and financial risk. These banks are JP Morgan Chase, Bank of America and Citigroup             . Citing the same reasons and crypto market volatility , the UK banking giant Lloyds Bank has also banned its credit card customers from buying cryptocurrency. Many institutions threatened to restrict some operations with digital assets before, but the real steps by the leading banks with a huge customer base can’t but further reduce the appeal of bitcoin             which is particularly vulnerable lately.
From the technical point of view, the key on the upside in the $8,000 mark as its loss triggered even a more aggressive sell-off on Friday, and now this level is the immediate local resistance. Should the price regain this barrier, the trader focus will turn to $10,000 again. However, in the short-term, the downside risks continue to prevail, and failed recovery attempts signal that investors are not ready to buy bitcoin             yet. Therefore, the next bearish target is the $7,500-$7,200 zone.
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
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder 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