To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more




TOP STORIES
Starbucks is not accepting Bitcoin, but builds an exchange

It will generally allow the crushed and boiled crypto investments to be converted to the crushed an...



The rebound of Bitcoin's prices may start to disappear



The rebound of the bitcoin-dollar exchange rate (BTC / USD) seems to have stalled.



22.Sep.17 2:01 AM
By Daria Zaytseva
Photo Toinnov.com

   210

The rebound of Bitcoin's prices may start to disappear
After rising from a recent low of 2.980 dollars this week, bitcoin again trades below $ 4,000, which raises doubts about the continuation of the rally. According to CoinMarketCap, the cryptocurrency was trading at $ 3,850 during the press - a decline of 1.68 percent in the last 24 hours.

Week-on-week, the BTC grew by 19 percent. On a monthly basis, the BTC decreased by 3.7 percent.

However, the assumption that China's crypto trading crackdown will not have a long-term impact seems to have weakened. This can be seen from the analysis of price action, which indicates a bullish depletion of about $ 4,000 and the absence of a substance for the rally from $ 2,980.

This goes against the response to a knee-jerk sell-off in bitcoin earlier this week, when, after China suppressed the cryptocurrency trade, the market quickly saw a sharp increase.

Based on this momentum, on September 15 bitcoin put a solid rebound from the 100-day moving average following the index of the relative oversold force.

But while a similar price action in July gave a record rally to a level of $ 5,000, September is unlikely to be able to repeat the history.



Back to the list


Related Information: