BTCUSD risks falling to 6000.0 in nearest days if the minor support level at 6425.0 will not hold. BTC's retreat from the weekly high of 7500.0 not only marks a lack of interest from the bulls keepold the prices above the key resistance of 7250 (March 8 low), but also draws a breakthrough of the local Bullish Trend Line, which was supporting the upward momentum since 01.04.2018.
Today forecast: Trading in 6425.0 – 7000.0 zone; A fall to the 6000.0 levels in case of a breakthrough of the 6425.0 support.
Latest news:
Today forecast: Trading in 6425.0 – 7000.0 zone; A fall to the 6000.0 levels in case of a breakthrough of the 6425.0 support.
Latest news:
- Analyst Tom Lee reckons cryptocurrency selloff motivated by $25 billion capital gain hit. Top industry analyst and the lead researcher at Fundstrat, Tom Lee reckons that the current tax filing deadline in mid-April has been a contributor to the falling prices of digital currencies and tokens. Similarly, the investors who have been doing well betting on digital tokens are currently selling off to file $25 billion required for capital-gains levies. Bitcoin price has fallen by over 40% in the last month while it recorded 1.2% loss on Thursday 4. Lee says, “This is a massive outflow from crypto to dollars,” He wrote. “Historical estimates are each $1 of USD outflow is $20-$25 impacts on crypto market value.”
- MT. Gox's former owner Mark Karpeles claims bitcoin cannot 'keep up'. Bitcoin has fallen overnight to $6,544 as confidence continues to drop and speculative investors gradually walk away. The controversial former CEO of Mt. Gox has written on Reddit that he is no longer a BTC believer. Mark Karpeles said: "The technology is definitely here to stay, but bitcoin may have trouble evolving and keeping up." The former CEO also called bitcoin’s one-tie rival, ethereum, “too untested” for any kind of serious use.
- SEC Puts Bitcoin ETF Proposals Back on the Table. The US Securities and Exchange Commission (SEC) has quietly begun considering two Bitcoin ETF proposals, public documents show. According to SEC documents dated March 23, the agency has instituted formal proceedings to determine whether to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares. ProShares Bitcoin ETF and ProShares Short Bitcoin ETF would each hold Bitcoin futures contracts, providing retail investors with the ability to indirectly invest in the flagship cryptocurrency — or bet against it — through a familiar investment product.
