Bitcoin’s course continues to consolidate with the prospect of further decline.


At the outcome of the working week, Bitcoin’s course continues to consolidate after reaching the upper limit of a triangle formed from May 19 and the mark of $ 38,000.

Traders actually ignore the drop of hashier with 150 eh / s to 123.5 eh / s, caused by the suspension of miners operations

Also, did not cause a noticeable reaction with a margin of «Lightning» about the violation of one of the leading cryptoch of India, WAZIRX, the law on the management of foreign currency on operations in the amount of $ 382 million. News can force Bitfinex and Kraken to revise plans to enter this market and again increases uncertainty. With regard to the status of cryptocurrency in this densely populated country, although the on the eve of the local media and reported the readiness of the government to classify them as a separate class of assets.

In the last interview, the head of the cryptoldding platform Blockfi Zacz Prince declared the positive effect of regulating the adoption of digital assets, with which it is impossible to disagree, but until these frameworks are built, capital will hardly be drawn up in this sector. The companies continue to prepare for these glorious times, and the same Blockfi recently launched a trading platform for wealthy individuals and institutional clients. But the time has not yet come.

The US Securities and Exchange Commission once again described the investment in Bitcoin as «very speculative», which does not allow for approval to it ETF. In the US, the standard reporting forms for all participants in the industry should still appear, and all this should go into the form of regulatory assets before the green light will be given for investments in cryptocurrencies of retail investors.

The rules of the game continue to line up. The same Initiative of Salvador on the recognition of the first cryptocurrency as a payment agent caused criticism of the IMF, which this poorly poor country will not be able to take into account.

Bitcoin remains within the triangle. The upper limit to the current moment stopped gusting bulls. After consolidation, which can stretch on Friday Saturday, the initiative can go to bears. You can expect a new downward pulse to the lower boundary of the formation, running near $ 32,000 with the return risk of the continuation script

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