Bitcoin sheds $2.5K amid warnings of a repeat BTC price dip
BTC price action reminds traders of the initial dip in May as rejections characterize attempts to break higher. Bitcoin (BTC) fell precipitously on Friday after a rejection above $35,000 sparked a rout toward familiar support.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin heads back toward $30,000Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it shed over $2,500 during trading on Friday.The pair had hit local highs of $35,400 overnight before abruptly reversing trajectory to fall below $33,000. For popular trader Crypto Ed, the situation was....
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On Friday, the cryptocurrency community discussed a report stemming from China’s 51st meeting of the Central Financial and Economic Affairs Commission that reiterated warnings about bitcoin mining. The following Sunday, reports disclosed the cryptocurrency operation Huobi has suspended its cloud-mining operations and other crypto services to customers in mainland China. Rumors of China and Bitcoin’s Uneasy Relationship Continue It was said on many occasions in 2017 that bitcoin (BTC) was resilient to negative news from China, after the tumultuous year of bad news from China....
Top financial regulators in England and Japan have independently issued warnings on Binance for offering crypto exchange services to residents of the two countries without being registered with the regulators as required by law. Japanese Regulator’s Warning Japan’s top financial regulator, the Financial Services Agency (FSA), issued a warning notice to Binance Holdings Ltd. and CEO Changpeng Zhao on Friday. The notice states that Binance has been providing crypto exchange services to Japanese customers without registration. Under Japanese cryptocurrency regulation, companies....
Dogecoin is set to complete its most bearish first quarter of the year in seven years with a quarterly loss of around 46%. This has raised the possibility of the foremost meme coin witnessing a repeat of the 2018 price action, when it recorded its worst Q1 loss ever. Dogecoin Set To Complete Most Bearish […]
Authorities in Russia are continuing their work to establish a comprehensive legal framework for crypto transactions. The efforts, which started before the military invasion of Ukraine, go on amid warnings that Moscow may use cryptocurrencies to evade expanding financial sanctions.
Expert Council Meets in Russia to Discuss Law ‘On Digital Currency’
Attempts to legalize and regulate operations with cryptocurrencies are ongoing in Russia, despite the situation surrounding the military assault the Kremlin launched in neighboring Ukraine. An expert council supporting....
The price of bitcoin has declined more than 11% already today, a development that comes amid a week of high market volatility. The movements are the latest in a week of trading that has seen the price of the digital currency nearing all-time highs before falling nearly $200 in a matter of hours and later recovering. At press time, the price of bitcoin is averaging $899.00 across global exchanges, according to data from the CoinDesk Bitcoin Price Index (BPI). The news also notably follows a decision by the People's Bank of China (PBoC), China's central bank, to publicly disclose that it had....