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Bitcoin has been difficult so far this year, but the last bull run, which saw the price of bitcoin rise by about 200% in just six months, could end.
The price of bitcoin, which now stands at just under $ 10,000 per bitcoin, has increased so far this year, mainly due to the expectations of the world's largest technology companies, led by social media giant Facebook, could be about to dive head first into Bitcoin and cryptocurrency.
Now, it seems that bitcoin could experience a sharp drop, with technical data suggesting that the price of bitcoin could be on the verge of dropping sharply.
The price of bitcoin has risen sharply since the beginning of the year, but many traders and investors are concerned that the market is heading for a sharp correction.
LightRocket via Getty Images
At the beginning of the year, Bitcoin exceeded its 50-day moving average, which could mean that the price of bitcoin increased from less than $ 4,000 per bitcoin at the beginning of the year to nearly $ 14,000 .
Bitcoin price data also show that trade is below the lower limit of the GTI Vera Band indicator, which is closely monitored, was reported for the first time by Bloomberg, a financial press wire.
The price of bitcoin began to rise earlier this year, as the Apple iPhone manufacturer, Twitter microblogging platform, and Facebook has seen bitcoin and crypto-currencies as a potential new source of revenue.
However, the rally was halted in his tracks after Regulators around the world have put cold water on Facebook's ambitious plans to issue its own cryptocurrency, Libra, next year.
It is now believed that regulatory issues could completely derail Facebook's Balance project, although it affirms its commitment to working with lawmakers around the world to make Balance a reality.
"There can be no badurance that Libra or our badociated products and services will be made available in a timely manner, if at all" & nbsp;Facebook said.
"Bitcoin" is at a key technical turning point, said Matt Maley, equity strategist at Miller Tabak + Co., quoted by Bloomberg. "An in-depth regulatory review" will become an even bigger issue (much more important) once we have pbaded the summer break for Congress and get into the heart of the 2020 election cycle. "
Bitcoin was put in the spotlight earlier this month by US President Donald Trump has unleashed a scathing attack on bitcoins and crypto-currencies, calling them "unregulated badets" in a series of tweets.
Following the Trump attack and warnings from other global regulators, the BTVK & nbsp;warns that bitcoin and crypto "wild west" may soon come to an end, global regulators are getting closer to bitcoin and cryptocurrency following the spotlight brought by the Libra project on Facebook.
Some US presidential candidates, however, said that they would support bitcoin and the creation of other cryptocurrencies to rival the US dollar, potentially transform bitcoin and crypto into a 2020 election outcome.
The price of bitcoin has risen so far this year, but the last rally may soon come to an end.
Coindesk
Earlier in the day, US lawmakers toasted experts in bitcoin, cryptocurrency and blockchain on how the balance of Facebook could upset the US economy.
"It is clear that digital badets do not really fit into our current financial system, as the current regulatory framework is poorly distributed between bank regulators and market regulators," said Christine Trent Parker, partner at the firm. Attorneys Reed Smith, at the end of the hearing.
"It is unfortunate that today's hearing made it clear that Congress was not going to fix the problem as soon as possible and that, in fact, the lack of clarity and consistency could undermine US consumers have access to these technologies. "
Some badysts of bitcoin and cryptocurrency remain optimistic, despite regulatory fears.
"Volumes continue to decline in the cryptography market as the slowdown seems to be over," said Mati Greenspan, senior market badyst at eToro, in a note to clients.
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Bitcoin has been tough since the beginning of the year, but the last bull market, which saw the price of bitcoin rise by around 200% in just six months, could soon come to an end.
The price of bitcoin, which now stands at just under $ 10,000 per bitcoin, has risen to now this year, mainly because of the expectations of the world's largest technology companies, led by the media giant Facebook, could be about to embark on bitcoin and crypto-currencies.
Now, it seems that bitcoin could experience a sharp drop, with technical data suggesting that the price of bitcoin could be on the verge of dropping sharply.
The price of bitcoin has risen sharply since the beginning of the year, but many traders and investors are concerned that the market is heading for a sharp correction.
LightRocket via Getty Images
At the beginning of the year, Bitcoin exceeded its 50-day moving average, which could mean that the price of bitcoin increased from less than $ 4,000 per bitcoin at the beginning of the year to nearly $ 14,000 .
Bitcoin price data also show that trading is in the lower limit of the GTI Vera Band indicator, which has been closely monitored, was first reported by Bloomberg, a financial newswire.
The price of bitcoin began to rise earlier this year as manufacturers of iPhone, Apple, the Twitter and Facebook microblogging platform, turned to bitcoin and cryptocurrencies as a potential new source of revenue .
However, the rally was halted after regulators around the world put an end to Facebook's ambitious plans to issue its own cryptocurrency, Libra, next year.
It is now believed that regulatory issues could completely derail Facebook's Balance project, although it affirms its commitment to working with lawmakers around the world to make Balance a reality.
"There can be no badurance that Libra or our badociated products and services will be made available quickly or at least," said Facebook.
"[Bitcoin] At a key technical stage, Matt Maley, equity strategist at Miller Tabak + Co., was quoted by Bloomberg. "[Greater regulatory scrutiny] will become an even bigger issue (much more important) once we have pbaded the summer break for Congress and get into the crux of the 2020 election cycle. "
Bitcoin was put in the limelight earlier this month by US President Donald Trump, who unleashed a scathing attack on bitcoins and crypto-currencies, calling them "unregulated badets" in a series of tweets.
Following the Trump attack and warnings from other global regulators, the BTVK accounting firm warned that bitcoin and wild west crypto could soon come to an end, as global regulators closer bitcoins and crypto-currencies exchanges following the highlighting of Facebook's libra. project.
Some US presidential candidates, however, have stated that they would support bitcoin and the creation of other crypto-currencies to compete with the US dollar, potentially transforming crypto-bitcoin and crypto into an election issue in 2020 .
The price of bitcoin has risen so far this year, but the last rally may soon come to an end.
Coindesk
Earlier in the day, US lawmakers toasted experts in bitcoin, cryptocurrency and blockchain on how the balance of Facebook could upset the US economy.
"It is clear that digital badets do not really fit into our current financial system, as the current regulatory framework is poorly distributed between bank regulators and market regulators," said Christine Trent Parker, partner at the firm. Attorneys Reed Smith, at the end of the hearing.
"It is unfortunate that today's hearing made it clear that Congress was not going to fix the problem as soon as possible and that, in fact, the lack of clarity and consistency could undermine US consumers have access to these technologies. "
Some badysts of bitcoin and cryptocurrency remain optimistic, despite regulatory fears.
"Volumes continue to decline in the cryptography market as the slowdown seems to be over," said Mati Greenspan, senior market badyst at eToro, in a note to clients.
