Price
On Thursday the fall stopped at the Bearish Trend Line, near to the major support zone 6250 - 5750. After the stop, the price went sideways in a narrow corridor. For now, the bulls will wait while the price confirms whether the zone 5750 – 6250 still have enough support, so the probable forecast is further sideways movement with testings of the 6250 support. For the bulls, until the price will not come back above the 100-days EMA, there is no reason to plan any bullish strategies. The main concern of the traders now is for the support zone to hold on.
Today forecast
Trading in the 6250 - 6600 zone. Fall below 6250 - 5750 – bearish sign.
Latest news
On Thursday the fall stopped at the Bearish Trend Line, near to the major support zone 6250 - 5750. After the stop, the price went sideways in a narrow corridor. For now, the bulls will wait while the price confirms whether the zone 5750 – 6250 still have enough support, so the probable forecast is further sideways movement with testings of the 6250 support. For the bulls, until the price will not come back above the 100-days EMA, there is no reason to plan any bullish strategies. The main concern of the traders now is for the support zone to hold on.
Today forecast
Trading in the 6250 - 6600 zone. Fall below 6250 - 5750 – bearish sign.
Latest news
- Goldman CFO: the story about us dropping Bitcoin trading was ‘fake news’
Earlier this week the news that Goldman Sachs was planning to drop a plan to build a Bitcoin trading platform, was named one of the reasons for the recent bitcoin crash. But today, at TechCrunch Disrupt, the CFO of Goldman Sachs described the story as “fake news,” and said that in fact, the bank is still considering how to offer services that involved physical Bitcoin, but that it has not yet set a timeline for it.
“I was in New York yesterday and I was co-chairing our risk committee, and I saw the news article,” said CFO Marty Chavez, referring to the report yesterday. “It wasn’t like we announced anything or that anything had changed for us… I never thought I’d hear myself actually use this term, but I’d really have to describe that as fake news.”
As Chavez described it, Goldman Sachs had been building a Bitcoin trading platform modeled on the commodities futures trading platform, where there is never any Bitcoin traded, but more the promise of how the currency might move. Though, the CFO specified that the company has no timeline for when its own offering might be ready.
- SEC new member – a well-known supporter of ETFs
According to some experts, the chances for the appearance of bitcoin-ETF will significantly increase due to the appointment of a new member of the Securities and Exchange Commission (SEC), Elad Roizman, a well-known supporter of exchange investment funds. - Bitcoinist writes.
“The effect it will have on the perceived legitimacy of the market, on bringing in institutional money, and ultimately on the price of Bitcoin will be staggering. Time will tell, but it just may begin today with the confirmation of Elad Roisman as SEC Commissioner.” – from the Medium article by John Galt.
However, Galt noted that for the further development of the cryptocurrency the creation of ETFs is not necessarily. This is confirmed by the fact that even without institutional money, the capitalization of the digital assets market has grown to hundreds of billions of dollars.
Note that according to the head of Abra Bill Barhydt, the launch of Bitcoin-ETF should take place next year.
