0
πŸ“° News
2482 views

Bitcoin Price Prints Massive Red Candle After Failing to Break Above Key Resistance Level

  • Alex Dovbnya
    πŸ“° News

    Bitcoin price witnesses a sharp drop after the $8,800 resistance level was brutally rejected

Bitcoin Price Prints Massive Red Candle After Failing to Break Above Key Resistance Level
Cover image via www.123rf.com

The Bitcoin price recently attempted to break above its key resistance level at $8,800 but miserably failed to do so. The top coin by market cap has shed $300 of its value in mere minutes.

At press time, BTC is changing hands at $8,453, dipping by 1.33 percent over the last 24 hours.          
 

Bitcoin price

πŸ‘‰MUST READ

Bakkt's Trading Volume Picks Up Steam While Bitcoin Price Surges to $8,600

 Bakkt's Trading Volume Picks Up Steam While Bitcoin Price Surges to $8,600

Prior to that, cryptocurrency trader Josh Rager pointed out that $8,800 would be "an important area" for Bitcoin to close above.

However, it now seems like it's out of reach for the bulls (at least in the short-term). 

It's once again an uphill battle for Bitcoin given that its price is now in serious danger of dropping below $8,000 once again. The market is waiting for the coin's next move with bated breath. 

Subscribe to News.U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry β€” from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
0
πŸ“° News
125 views

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
    πŸ“° News

    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

β€œIt is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings