It's no secret that the opinion of the largest investors in the traditional assets of the cryptocurrency market, such as Warren Buffett and his associates, who are extremely negative about the currency. The main reason is, first of all, the lack of regulation by the state and clear understandable laws within which the sphere should work and develop according to the opinion of the "whales" of the investment world.
The other day the market received interesting information from China, which since last year is one of the main culprits of negative sentiment. At the end of last year, National Bank of China banned the "ICO". Recently, the Chinese law enforcement services start monitoring the activities of stock exchanges that moved their business abroad.
All this exerts pressure on bitcoins and the whole the crypto market, but recently positive news came from China, which can be seen as an increase in China's loyalty to the crypto-currency market. During the annual meeting of the legislative bodies of China, it was proposed to establish a national exchange in the country and organize regulating bodies for the crypto industry. In my opinion, this can be regarded as positive news for the further development of the sphere of the cryptocurrency, which in turn will attract the interest of the institutional and professional investors in the Asian region.
Now bitcoin is traded within the rising channel between (11200 - 11600), which can hardly be called a growing trend. This is more like a struggle between buyers and sellers in which buyers are losing by a slight margin. According to the schedule, now bitcoin tested the lower border of the channel (11200) and indicators of technical indicators indicate a good moment for speculative purchases with the aim of arriving at the level of 11750 - 11950.
Also, this news can be used as an excuse for finding new and interesting coins for yourself in the investment portfolio. In the top gainers for several days now there are CREDITS ("CS") with the highest trade volumes from the coins which recently passed the listing. Today the company is going to list on the Chinese stock exchange KuCoin, which will be the first centralized exchange with large volumes of trades. Earlier, the "CS" coin has already shown growth of 400% and it is likely that growth will continue with the arrival of new investors from the Asian region.
The other day the market received interesting information from China, which since last year is one of the main culprits of negative sentiment. At the end of last year, National Bank of China banned the "ICO". Recently, the Chinese law enforcement services start monitoring the activities of stock exchanges that moved their business abroad.
All this exerts pressure on bitcoins and the whole the crypto market, but recently positive news came from China, which can be seen as an increase in China's loyalty to the crypto-currency market. During the annual meeting of the legislative bodies of China, it was proposed to establish a national exchange in the country and organize regulating bodies for the crypto industry. In my opinion, this can be regarded as positive news for the further development of the sphere of the cryptocurrency, which in turn will attract the interest of the institutional and professional investors in the Asian region.
Now bitcoin is traded within the rising channel between (11200 - 11600), which can hardly be called a growing trend. This is more like a struggle between buyers and sellers in which buyers are losing by a slight margin. According to the schedule, now bitcoin tested the lower border of the channel (11200) and indicators of technical indicators indicate a good moment for speculative purchases with the aim of arriving at the level of 11750 - 11950.
Also, this news can be used as an excuse for finding new and interesting coins for yourself in the investment portfolio. In the top gainers for several days now there are CREDITS ("CS") with the highest trade volumes from the coins which recently passed the listing. Today the company is going to list on the Chinese stock exchange KuCoin, which will be the first centralized exchange with large volumes of trades. Earlier, the "CS" coin has already shown growth of 400% and it is likely that growth will continue with the arrival of new investors from the Asian region.
Trade active:
The general situation in the market of crypto-currencies today is not in favor of buyers due to negative messages, for example, such as:
- Brazilian regulator banned investment in mining bitcoin
- The authorities of South Korea de facto forbade officials to own and trade in crypto-currencies.
Today Bitcoin is trading in the red at 5.24% after its price failed to pass the resistance level at 11,600 and fell below a strong support level of 11,000.
The negative also affects the price of CREDITS (CS), which today is the first day traded on the KuCoin exchange in a downward trend. Trading on the exchange started at a price of 0.0010 and after rising to a level of 0.0014 the price fell at the level of 0.0080 where it is currently trading. This correction is caused by profit-taking by speculators who could enter at low prices at Idex and Tidex at the end of last week. This decline should be considered as a time correction and the opportunity to buy coins at better prices, which will probably be used by large investors for the medium-term strategy in long.
- Brazilian regulator banned investment in mining bitcoin
- The authorities of South Korea de facto forbade officials to own and trade in crypto-currencies.
Today Bitcoin is trading in the red at 5.24% after its price failed to pass the resistance level at 11,600 and fell below a strong support level of 11,000.
The negative also affects the price of CREDITS (CS), which today is the first day traded on the KuCoin exchange in a downward trend. Trading on the exchange started at a price of 0.0010 and after rising to a level of 0.0014 the price fell at the level of 0.0080 where it is currently trading. This correction is caused by profit-taking by speculators who could enter at low prices at Idex and Tidex at the end of last week. This decline should be considered as a time correction and the opportunity to buy coins at better prices, which will probably be used by large investors for the medium-term strategy in long.
Trade closed: stop reached