Bitcoin weathered a challenging week. Ethereum did not. And a new report out of Europe warns of the dangers of not regulating crypto….
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Bitcoin (BTC) trading sideways may be boring for those trying to profit from the price swings, but it is far from a new thing for the original cryptocurrency to do (relatively) nothing….Read More: Sideways Markets Not a New Thing for Bitcoin: An Overview of Bitcoin Consolidations…
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Bitcoin price recovered above the USD 28,500 zone. BTC attempted an upside break but struggled above USD 29,000. It is currently (11:50 UTC) struggling and might continue to move down towards the USD 27,500 level. Besides, most major altcoins are showing bearish signs. ETH settled below USD 1,800 and might test USD 1,700.
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After much talk in recent years about an increasing correlation between stocks and bitcoin (BTC), a ‘decoupling’ between the two has been observed in May, as BTC has fallen significantly more than stocks. But according to an observer, bitcoin could find support as soon as the stock market closes for the week….
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The US Federal Reserve (Fed) has “limited firepower” to raise interest rates due to high oil prices and a threat of recession – and this could lead to higher bitcoin (BTC) prices, the crypto research and investment firm CoinShares has said. Meanwhile, others also remain positive for the long-term, saying bitcoin’s network effects make it likely to succeed….
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Bitcoin price failed to stay above the USD 28,500 support zone and declined to USD 27,500 before there was a recovery wave. It is currently (04:05 UTC) consolidating losses near USD 29,000 and is down almost 3% in a day and 4% in a week. Besides, most major altcoins gained bearish momentum but are not trying to recover losses.
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But the central bank chief said she still wouldn’t go near digital assets….
Continue reading on https://decrypt.co/101442/ecb-chief-bitcoin-critic-christine-lagarde-son-trades-crypto
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