Things Will Only Get Worse For Bitcoin Claims Analyst
“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
