Bitcoin Soars $1000 Off The Lows After G-20 Rejects Crypto Crackdown
Content adapted from this Zerohedge.com article : source
After months of FUD, bitcoin finally got some good news.
Recent weeks saw the banning of cryptocurrency ads by Facebook, Google, and, finally, Twitter. There was also expectations that new global regulations would come out of the G-20 summit.
The FSB regjected called for regulation.
This gave the market a sigh of relief, moving the price of bitcoin up $1,000.
“The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time,” FSB Chair Mark Carney said in a letter to G20 central bankers and finance ministers who will meet in Buenos Aires on Monday and Tuesday.
Non-adapted content found at zerohedge.com: Source
We going back down soon
this is really a relief news for us
Good to know. I was wondering what was the reason bitcoin started to raise along with other cryptocurencies including Steem. However, the volume is not too convincing. I expect the selling pressure to continue. The trend is still down, we should get ready for anything. The good news is there are buyers at these levels. I’m still waiting for this panic selling.
I am waiting for BTC to go down to around $7k again midweek after bit of a pump on Monday after going down all tonight from the recent pump up....imo
Man, i missed my opening was ready to jump on it at 7500 but hesitated and next thing i know it was up 700$. =(
Phew! It is great to finally get some good news! This is a good start, but I don't think we are out of the woods yet, I think Bitcoin could have a little more downside before a nice bull run.
If price can close above $8600 (yellow line) and break the daily trend line, that will be the first signs of a reversal.
The next milestone before moving higher would be to clear out the sell orders at $9250 (green circle) on the 4 hr chart.
BTC most likely retrace back down all tonight and go up again tomorrow, Monday when Asians start buying again.....imo ....comment?
A sign of relief for tempers of many that were rising around the globe. The G20 Financial Stability Board has given quite a good analytical review of the influence of crypto-assets on global economy, which is very small as these crypto-assets account for less than one percent of global economic output.The technologies undeylying the crypto-assets can improve the efficiency of the economy. As we've witnessed various blockchain technologies creating a closer bond between the consumers and retailers through close interaction which increases sales. Such advantages are at a risk of getting shuttered when crypto-assets continue getting decampaigned.
Let's wait for the conclusion on the crytptocurrency market from the G20 summit on Tuesday, the last day of the meeting in Buenos Aires.
so do you think bitcoin will run well again?
lets hope for a next bitcoin rally. i m into. whats your opinion about it?
Greetings from the carrebean. mikeCee