Bitcoin Today: Et tu, Bing?
Price
BTCUSD had a dip again, this time the pair went to the Bullish Trend Line and found support only there, around 8200.0 level. The dip appears to be related to reports that Microsoft’s search engine, Bing, has followed in the footsteps of tech giants Facebook, Google, and Twitter by banning crypto-related advertising. Still, as the price holds near the 8500.0 level, above the Bullish Trend Line – overall overview stays positive for now. Nonetheless, too long stay below the 8500.0 level will eventually lead the price below the Bullish Trend Line, which gradually goes up, hence could bring more negatives to the price pattern. Support levels zone is 8000.0 – 8300.0. From the upside, 8800.0 level should be pierced to continue upward movement.
Today forecast
Lateral trading in the 8200.0 – 8800.0 zone.
Latest news
BTCUSD had a dip again, this time the pair went to the Bullish Trend Line and found support only there, around 8200.0 level. The dip appears to be related to reports that Microsoft’s search engine, Bing, has followed in the footsteps of tech giants Facebook, Google, and Twitter by banning crypto-related advertising. Still, as the price holds near the 8500.0 level, above the Bullish Trend Line – overall overview stays positive for now. Nonetheless, too long stay below the 8500.0 level will eventually lead the price below the Bullish Trend Line, which gradually goes up, hence could bring more negatives to the price pattern. Support levels zone is 8000.0 – 8300.0. From the upside, 8800.0 level should be pierced to continue upward movement.
Today forecast
Lateral trading in the 8200.0 – 8800.0 zone.
Latest news
- Microsoft’s Search Engine Bing Says It Will Ban Crypto-Related Ads By July 2018. Microsoft-powered search engine Bing has joined other internet giants in announcing it will ban cryptocurrency-related advertisements on its network by July 2018, according to an official blog post today, May 15.
According to the statement, the main reason for the company’s decision to ban “advertising for cryptocurrency” and “cryptocurrency related products” is the current unregulated status of cryptocurrencies, which allegedly increases risk for Bing’s users:
“Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.” - EU Adopts Rules to Reduce Anonymity for Crypto Users. A directive affecting the crypto sector in Europe has been adopted by the EU Council. The document updates the anti-money laundering legislation of the European Union to address, among other issues, “the risks linked to virtual currencies.” The new rules aim to reduce anonymity for both users and transactions with requirements for know-your-customer procedures that crypto platforms will have to implement. Meanwhile, a high-ranking ECB official has called for segregating the crypto business from traditional finances.
- Amazon Makes Big Blockchain Move For AWS. Amazon’s cloud computing division is making big moves in the blockchain space, CNBC reported: It is partnering with Kaleido to give AWS customers access to the blockchain.
“They can focus on their scenario and they don’t have to become PhDs in cryptography, we give them a simple platform to build their company on blockchain,” Steve Cerveny, a Kaleido founder, told CNBC.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.