Bitcoin Today: after-fall depression
Price
The market still recovering from the weekend fall, trading in extra narrow boundaries above the 6650.0 level, where the fall found support on Monday. To consider turnaround we need to see a strong increase in volume and a significant upward momentum, which will break above the Bullish Trend Line and return the price in the 7600.0 zone. For now, while we do not see volumes and upward momentum, even if the price will hold above 6650.0 support – the probable scenario is prolonged lateral movement. From the below, we have 6600.0 support and 6000.0 psychological level in case of another one dive.
Today forecast
Trading in the 6600.0 – 7000.0 zone. High risk of further fall-down.
Latest news
The market still recovering from the weekend fall, trading in extra narrow boundaries above the 6650.0 level, where the fall found support on Monday. To consider turnaround we need to see a strong increase in volume and a significant upward momentum, which will break above the Bullish Trend Line and return the price in the 7600.0 zone. For now, while we do not see volumes and upward momentum, even if the price will hold above 6650.0 support – the probable scenario is prolonged lateral movement. From the below, we have 6600.0 support and 6000.0 psychological level in case of another one dive.
Today forecast
Trading in the 6600.0 – 7000.0 zone. High risk of further fall-down.
Latest news
- SEC Chairman: Bitcoin is the only Cryptocurrency that is not a Security
In the United States digital assets ecosystem, the Securities and Exchange Commission (SEC) exhibits the most significant regulatory influence. In the latest development, SEC Chairman Jay Clayton made it clear that bitcoin (BTC) is the only cryptocurrency that does not fall under the securities category since the pioneer cryptocurrency can function as an alternative to sovereign fiat currencies.
Clayton noted:
“Where I give you my money and you go off and make a venture […] and in return for me giving you my money, you say, ‘You know what, I’m going to give you a return.’ That is a security, and we regulate that. We monitor the offering of that security, and we regulate the trading of that security.” - Apple bans cryptocurrency mining on iPhones and iPads
During Apple's Worldwide Developers Conference last week, the company released new App Store guidelines that ban cryptocurrency mining on both iOS devices and Mac. AppleInsider first spotted the changes to the policy on Monday.
This is the first time Apple has offered a clear stance on its policy on cryptocurrency apps. It comes amid explosive interest in cryptocurrencies like bitcoin, which are "mined" when people use multiple devices to solve complex mathematical problems that lock and unlock information in the blockchain. They're rewarded as each transaction is secured.
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