Trading volume on South Korea’s Bithumb exchange has plummeted since it temporarily stopped offering new account registrations.
CoinDesk
Bitcoin Retains Bull Bias Despite Price Drop to Below $8K
The bitcoin charts retain a bullish bias today, despite a pullback in prices to a three-day low of $ 7,848.
CoinDesk
Bitcoin Price to Drop to $4,000 Before Bouncing to $10,000 According to Senior Analyst
As Bitcoin price continues to decline, senior analyst Todd Gordon shares his take on the current market conditions – and where the price of Bitcoin will go from here.
Todd Gordon, founder of TradingAnalysis.com, appeared on CNBC’s Stock Draft on June 22 during which he predicted that Bitcoin (BTC) will fall to $ 4000 before experiencing a rebound that will take it to over $ 10,000 by 2019.
Bitcoin Price Watch: Is the Recent Drop Part of a Bigger Picture?
At press time, bitcoin is retaining its $ 6,100 price from yesterday. The currency fell to this position from $ 6,700 after Japan’s Financial Services Agency (FSA) sent notifications to more than five digital currency exchanges saying that they must heighten their security measures against money laundering after noticing weaknesses in their infrastructures.
Bitcoin has continued to suffer drops over the past week. Its initial slump to $ 6,700 occurred after hovering at the $ 7,600 mark for some time, and now the price is just $ 100 away from its February low. While bitcoin did drop below $ 6,000 during yesterday’s evening hours, things didn’t last, and the coin quickly pushed itself back up to $ 6,100, where it has been ever since.
Bitcoin Recovery Stalls Raising Risk of Price Drop
Bitcoin will likely drop below $ 6,000 this week, with bearish indicators still littering short- and long-term charts.
CoinDesk
Bitcoin Price Drop To $3200 Would Still Continue Uptrend, Fundstrat Confirms
The price of Bitcoin may be heading down to $ 3200, new research has warned — as the first and foremost cryptocurrency fails to find support at its April lows of $ 6450.
The Bigger Picture
In a detailed transaction analysis released June 13, Fundstrat Global Advisors concluded that — due to the lack of support — BTC/USD could hit February’s $ 6900 low before rebounding and subsequently falling further to somewhere between $ 5000 and $ 5500.
The findings begin:
Bitcoin Price Drop: Is this the Best Time to Buy?
By 2 PM (EST) on June 11, 2018, Bitcoin, the number one cryptocurrency, had dropped almost $ 1,000 from its price, trading at $ 6,700. BTC is now trading at its lowest value since the middle of March 2018. One of the most significant questions remains what to do next – join the selloff brigade, hodl, or buy more Bitcoins?
Getting the Facts Straight
First things first, the facts need to be straightened out. Market manipulators most likely triggered the present sharp price dip. Retail cryptocurrency investors have shown that they have “thin skins” when it comes to weathering negative market signals. The response is usually the same – a massive dump which invariably sends prices tumbling.
Japan Could Pressure Exchanges to Drop Monero & Dash: Reports
A Japanese regulatory working group focussing on cryptocurrencies has suggested exchanges should not be “allowed” to trade certain altcoins including Dash and Monero.
FSA Suggests Altcoin Squeeze
As Forbes reports citing a meeting of the group, which consists of industry experts organized by Japan’s regulator the Financial Services Authority (FSA), the anonymity options such altcoins present could be grounds to banish them from the country’s burgeoning exchange sector.
“It should be seriously discussed as to whether any registered cryptocurrency exchange should be allowed to use such currencies,” an unnamed member said April 10.
Japanese Regulator Pressures Exchanges to Drop Privacy Coins
Japan’s Financial Services Agency, tasked with monitoring the country’s cryptocurrency exchanges, has quietly been pressuring platforms to delist privacy coins. Coincheck has already done so in the wake of the $ 400 million NEM hack. If fellow exchanges follow suit, it could signal the beginning of the end for privacy coins such as zcash and monero on Japanese and possibly even global exchanges.
Also read: Bitcoin Cash Adoption Continues: Crypto Cafebar, Gold Vendor, Concealed-Carry Clothing
Crypto Funds Drop 29.2% in March Reveals Hedge Fund Data Specialist
In theory, hedge funds employ complex investment strategies that should allow them to achieve high returns both in bearish and bullish markets. In practice many fail due to short term thinking and over-leveraged trading. These can be especially costly and not suitable for the young and volatile cryptocurrency market as any long time bitcoin HODLer can tell you.
Also Read: Indian Exchange Takes Central Bank to Court Over Bank Ban