Things Will Only Get Worse For Bitcoin Claims Analyst

Written by:
Guest
Published on:
Jun/08/2018

“This cryptocurrency had a very ugly May and it looks like things will only get worse,” said market analyst Jani Ziedins of Bitcoin in a Friday blog post.

“This is a long-term downtrend and lower lows are still ahead of us. Breaking $7k support will trigger to another wave of selling, but the fear won’t strike in earnest until we undercut the $6k lows.”

A break of the $6,000 low represents another 20% fall.

MORE BITCOIN NEWS

Korean Crypto Exchange Coinone and 20 Traders to Face Charges Over Margin Trading - The South Korean police are reportedly preparing to charge Coinone's executives, including its CEO, and 20 of the exchange's members. This follows a 10-month investigation on allegations that the exchange provided gambling services through its crypto margin trading program. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Coinone's Investigation Concludes South Korea's Cybercrime Investigation Unit of the Southern Provincial Police Department announced on Thursday, June 7,...READ MORE

Virtual Currencies to Become “Part of the Economic Practices” of All Nations – CFTC Commissioner - United States Commodities Futures Trading Commission (CFTC) commissioner, Rostin Behnam recently gave a speech in which he predicted that “virtual currencies […] will become part of the economic practices of any country.” The CFTC commissioner predicted that cryptocurrencies will have a transformative effect in providing financial services to unbanked populations, and undermine corruption through increasing financial transparency.  READ MORE

- Aaron Goldstein, Gambling911.com

Business/Financial News

Japanese Police Crack Down on Some Cryptocurrency Users

Japanese Police Crack Down on Some Cryptocurrency Users

Say what?Japanese Police have been cracking down on users of remote mining software apps, such as Coinhive, without their website visitors’ consent....

Sports Betting Software Arizona

Sports Betting Software Arizona

Sports betting software is available to those bookies and agents residing throughout the state of Arizona with major metropolitan areas including Phoenix, Tuscan,  and the Grand Canyon region.

Stress Test for Bitcoin Cash is Coming

A real world stress test is nearing for bitcoin cash with millions of transactions to be thrown its way in an effort to prove the digital currency can hold up to all the hype.

Cryptocurrency Prices Slumping Again, Attibuted to Japan Demands

Cryptocurrency Prices Slumping Again, Attibuted to Japan Demands

A slumping market across most cryptocurrencies is being blamed on Japan's Financial Services Agency (FSA) requring exchanges to make improvements to the Japanese trading platforms' anti-money laundering practices. 

'Enormous Assets' to be Returned in Mt. Gox Debacle

“This is the first time in Japan legal history,” attorney for the creditors, Daniel Kelman, stated, “that a liquidation has ever converted into a rehabilitation —it’s always the other way around after a rehab fails. This sort of also made legal history as well.”

Syndicate