On March 19th and 20th 2018 in Buenos Aires ( g20.org/en/press-kit-19-20-march-2018)two discussions are scheduled wich are likely to effect short and long term prices of Bitcoin and all other crypto currencies:
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"The G20 is set to hold two separate discussions on cryptocurrencies next week in an effort to seek what representatives call a "common response" on regulation. A media representative for next week's summit, to be hosted by Argentina, which currently holds the G20 presidency, said that the first meeting will take place Monday. The talks will feature Argentina Treasury Minister Nicolás Dujovne and Organisation for Economic Co-operation and Development (OECD) Secretary-General José Angel Gurría, among other stakeholders. A second discussion will happen on Tuesday, the rep told CoinDesk."
BTC chart is showing the drop from 11,8k down to latest low @ 7,2k wich BTC has seen in the past 24 hours. This are the reasons: :
"Finance officials from the U.S., Germany, France and Japan have all called for the discussions to take place in the months leading up to the G20 summit. U.S. Treasury Secretary Steven Mnuchin said his concerns revolve around the use of cryptocurrencies in illegal activities like money laundering, while French and German finance officials co-wrote a letter in February that sounded the alarm on potential risks to investors." Quelle: coindesk.com/g20-delegates-will-seek-common-response-crypto-talks/
Same time sentiment is as worse as last time seen in 2011 (Please click on the chart to load facts & figures):
Technically BTC is showing a short term buysignal now - once more - after rising again above the downtrend line. Since March 6 all similar signals failed. So lets see how it runs this time.
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Remark: Sentiment view - longterm: Please click on the chart to load facts and figures
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BTC @ 8.500. Break above downtrendline needs to be confirmed by more upside momentum. BTC failed several times in similar pattern last weeks.
BTC @ 8.420 @ downtrendline: Pullback to 7,6k bis 7.8k could build a solid bottom and cause new longterm upside momentum.
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BTC @ 8.560 - Bitcoin moves above $8,400 after news that 'could have been worse' from G-20 regulators
Bitcoin prices moved higher Monday as global regulators took a tempered approach to cryptocurrency regulation ahead of the G-20 meeting this week. Financial Stability Board Chairman Mark Carney took a cautious approach in responding to calls from some countries to crack down on digital currencies in a letter Sunday. "The G-20 news over the weekend helped crypto prices. Or at least, the G-20 news could have been a lot worse," says Bart Stephens, co-founder and managing partner at Blockchain Capital. cnbc.com/2018/03/19/bitcoin-moves-above-8400-after-news-from-g-20-regulators.html
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BTC @ 8.450: Bitcoin following precisely trendlines. If BTC might drop slowly along the downtrendline this would be positive to form a tripple bottom.
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UNCH BTC @ 8.490: Bitcoin following precisely trendlines. If BTC might drop slowly along the downtrendline this would be positive to form a tripple bottom.
Alt-coin bear market is over, but bitcoin is still the best bet: Wall Street's Tom Lee
Bitcoin bull Tom Lee says the alt-coin bear market is over. But he still recommends investing in bitcoin. "Whether regulations change around security tokens and registration, bitcoin sits in its own sphere," he says. Lee said he expects the lesser-known, smaller coins will remain in "purgatory" and not begin rallying until at least the middle of August, if not mid-September, due to regulatory uncertainty. cnbc.com/2018/03/20/alt-coin-bear-market-is-over-but-bitcoin-is-still-your-best-best.html
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Trade closed @ 8.720: Since Dezember 2017 BTC was unable to close more than 4 consecutive days higher by a larger green candle. Thisfore traders should remain carefull about longer views - unfortunatelly.