[2018-06-25] Bitcoin & Co. Chart Analysis - Off Multi-Month Lows

[ruthbabe]

Bitcoin Hits a Seven-Month Low... Bitcoin traded at a new seven-month low of $5,769 on Sunday as sellers continued to dominate. The BTC price has picked back up to currently trade around $6,1 50, but the seven-month low at $5,649 remains in sight and is likely to be tested again on the short-term. If this level is broken convincingly, prices are likely to dip below $5,000 with the September 15 low at $2,970 the eventual target.

The latest sell-off was sparked by news that the Japanese Financial Services Agency (FSA) demanded that six domestic cryptocurrency exchanges to strengthen money laundering controls and internal accounting. Japan's largest exchange bitFlyer announced that it is suspending new accounts until it makes all the necessary changes.

More here... https://www.nasdaq.com/article/bitcoin-ether-ripple-litecoin-chart-analysis-off-multi-month-lows-cm982612

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[richardsNY]

I was reading about a significant amount of value in futures to have been liquidated on OKex which might have caused, or at least contributed to Bitcoin diving below the $6000 level. From all the reasons and ties this seems the most plausible contributing factor to the decline that we experienced. Either way, I'm happy to see that no one here could ever figure out what made Bitcoin go down. It makes people on this forum as knowledgeable as all the self claimed wannabe experts and gurus. In this market if you don't have a financial advantage, you are equal to most of the others in this market....