Major Bitcoin selloff - Something is happening in China
Something is happening in China. As you can see above there is definitely something going on in China. More than 5000 Bitcoins have been traded in less than 60 seconds and there seems to be a massive downtrend. Some have asked us if the Bitcoin exchange Huobi is closing. We are looking into the case and will update this post whenever we have any more information. We have written an analysis today that might be of interest: Bitcoin Price Fails at Major Resistance. UPDATE: the Bitcoin price seems to have stabilized now. The Daily Competition. We are celebrating our enormous growth by....
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For the time being, it remains unclear what this announcement means for bitcoin. China is planning to introduce some major changes in terms of market regulation. By the year 2020, China wants to address fake goods, food, and drug safety issues. Moreover, the government wants to impose more consumer protection measures, as there is a severe lack right now. An intriguing development, as this news goes to show some big changes are happening in the financial department. It remains unclear if this will have an impact on bitcoin in China, though. It is evident China wants to strengthen its....
Bitcoin has come a long way from where it was just under one year ago, with the March 12th selloff sending the cryptocurrency to lows of $3,800 – from which point it has seen exponential upside growth. One analyst is now noting that BTC’s days seeing sharp selloff events like this one are over, with its […]
Bitcoin price suffered a sharp decline, which might be a sign that the climb is over and that further losses are underway. Bitcoin Price Key Highlights. The recent sharp drop in bitcoin price turned out to be an omen for an even larger selloff, causing a break below the ascending channel support. This breakdown suggests that a reversal from the previous uptrend could be in the cards, possibly taking it down to the lows near $700. News from China combined with strong dollar demand triggered the huge selloff. Technical Indicators Signals. The 100 SMA is still above the 200 SMA on this time....
Bitcoin saw a strong overnight selloff that caused its price to erase most of the gains incurred throughout the past couple of days This selloff came about at a crucial resistance level, with the selling pressure at $13,800 proving to be significant This is a historical level, as it is where BTC rallied to before facing a strong rejection in the summer of 2019 The rejection here was grave, but the cryptocurrency still has multiple […]
The day after Christmas saw quite a slide in the price of Bitcoin as it slid to a low of USD $415 early Saturday morning. A massive selloff in CNY pushed the digital currency’s value down 10% over the 24-hour chart within roughly 8 hours and has currently remained steady at $425 at press time (December 26, 2015). Volume in China has remained quite....