The consolidation range is narrowing. In most cases, the direction of exit from such a consolidation is not subject to classical technical analysis. The probability of a breakthrough is possible in both directions. However, we will try to identify support and resistance levels.
As a result of another hacker attack that occurred in early September, a group of cryptocurrency exchange operators are planning to tighten self-regulatory measures that must be observed when managing client assets.
Nigel Green, CEO of deVere Group, one of the largest independent financial advisory firms, believes that the price of Bitcoin will rise sharply towards the end of the year due to FOMO.
A decreasing amplitude of fluctuations in a sideways range indicates an upcoming strong market movement
Today, news sources offer us various rumors, assumptions and statements. In particular, they say that the Tether startup may face serious problems. Another Chinese exchange is also believed to be falsifying trading information. In addition, the Maltese official claims that mass adoption of Bitcoin is inevitable.
CoinText.io is a service that allows you to send BCH cryptocurrency to anyone with a mobile phone. Today the company announced that it has begun providing its services in six more countries - Germany, France, Austria, Portugal, Estonia and the Czech Republic.
Noble Bank, which makes most of its revenue from servicing Tether, said it has no cash. While Tether traders are unsuccessfully trying to get rid of large amounts of coins, the bank is frantically looking for funding. Recently, Noble Bank approached one of the major stablecoin holders with a request for a loan, but was refused.
According to Chainalysis's recently updated annual study, "long-term investors sold about $24 billion of Bitcoin to new speculators between December 2017 and April 2018, with half of the sales occurring in the month of December alone. This unprecedented injection of liquidity is responsible for the price decline during that period." Obviously, when holders sell a financial product, its price falls, and it can fall quite significantly.
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