Bitcoin fall back towards the early morning low likely to lead to another day of heavy losses, investors having very little incentive to come off the side lines with Bitcoin and the broader market facing so much regulatory uncertainty.
For an asset class created to free the world from the grip of governments, central banks and financial institutions, the very same have ultimately contributed to Bitcoin and the broader market’s slide from all-time highs and there may be more to come.
Bitcoin, Sprit of cryptocurrency world, which managed to break out for sometime & gave a false signal on the upside moment and has now broken down of a critical long term support line which would mean prices breaking lower of the recent lows.
XBT/USD is trading $6310 more than 2 percent range for last 24H but see in last 7 days changes it is near to -12.74% which is the negative that can not be taken out of this breakdown for the bulls, the fact that volumes and volatility is higher in this breakdown.
But if this breakdown indeed proves right, then in all likelihood recent lows of the largest crypto won't hold but it may still try and find support around the long term support line that has been rescuing bulls from the jaws of death.
Let's see What New Investors (ETF) think about Bitcoin future ?
Thanks
YoCryptoManic
For an asset class created to free the world from the grip of governments, central banks and financial institutions, the very same have ultimately contributed to Bitcoin and the broader market’s slide from all-time highs and there may be more to come.
Bitcoin, Sprit of cryptocurrency world, which managed to break out for sometime & gave a false signal on the upside moment and has now broken down of a critical long term support line which would mean prices breaking lower of the recent lows.
XBT/USD is trading $6310 more than 2 percent range for last 24H but see in last 7 days changes it is near to -12.74% which is the negative that can not be taken out of this breakdown for the bulls, the fact that volumes and volatility is higher in this breakdown.
But if this breakdown indeed proves right, then in all likelihood recent lows of the largest crypto won't hold but it may still try and find support around the long term support line that has been rescuing bulls from the jaws of death.
Let's see What New Investors (ETF) think about Bitcoin future ?
Thanks
YoCryptoManic