The one plus for anyone hopeful of a price resurgence is that it has remained relatively stable over the last few days.As the price of bitcoin continues to slide, experts and analysts continue to point to the delayed SEC ruling.Of the top five, ripple suffered the biggest drop in value with a 15 per cent fall since this time yesterday.Cryptocurrency has become the need of the hour because in some aspects, it has been critically successful when compared to money. It is totally secure and traceable while other forms of money have been becoming more and more corrupt lately.
The value of bitcoin rose more than twenty-fold in 2017, generating huge amounts of interest in cryptocurrencies like ethereum and bitcoin cash. bitcoin and other cryptocurrencies are entirely distinct from stocks, currencies and other commodities in terms of factors affecting their market movements.the cryptocurrency returns can be predicted by factors which are specific to cryptocurrency markets. Bitcoin has fallen in price by almost 10 per cent following a decision by the US Securities and Exchange Commission (SEC) to delay a major ruling on the cryptocurrency's future.
The ingredients are part of an investigation in Indian Prime Minister Narendra Modi’s home state into allegations that investors poured cash into a bitcoin-based Ponzi scheme that could exceed the country’s largest banking scandal. Today, world order’s hallmark is its general instability and unpredictability, which in the eyes of the political philosophers, is the essence of the post-modernism.
Bitcoin price corrected higher and moved above the $6,350 resistance against the US Dollar.Bitcoin price is slowly rebounding from $6,200 against the US Dollar. BTC/USD must clear the $6,680 resistance and the 100 hourly SMA to gain bullish momentum.Yesterday, we discussed bitcoin price could rebound further from the $6,100 support against the US Dollar. The BTC/USD pair did move higher and broke the $6,350 and $6,550 resistance levels.the 50% Fib retracement level of the last drop from the $7,160 swing high to $6,100 swing low acted as a barrier.there were positive moves in bitcoin price above the $6,100 and $6,300 levels. Going forward, if buyers gain strength above $6,680, there could be solid gains in BTC/USD towards $7,000. 