Categories: Crypto Review

Bit-comment: Crypto market took cautions support

Over the past 24 hours, the BTC has added more than 5% and traded around $10,700. Bitcoin and other cryptocurrencies are attracting buyers’ demand after the correction. Nevertheless, the losses during the week were about 14%. The first cryptocurrency retains more signs of stability than the altcoins. For example, Ethereum lost about 27% in 7 days. At the moment market participants will be watching how this decline will be redeemed.

Caution of buyers and minimal trade volumes may provoke further decline, giving a signal to a new round of sell-off. The crypto community attaches great importance to the hearings in the U.S. Congress on Libra. Suddenly, this story began to have a very strong impact on the future of the entire sector, as Facebook attracted impressive attention of officials, calling into question the future of the regulation of the entire sector, which is still headed by Bitcoin.

The bad news is that Facebook has decided to postpone the launch of its cryptocurrency until the concerns of the Treasury and the US Federal Reserve are resolved.

The FxPro Analyst Team

AddThis Website Tools
The FxPro Analyst Team

Our team consists of financial market experts. Our dedicated professionals prepare reviews on the foreign exchange market situation, Crude Oil, Gold and Stock Indices. All the analysts are regularly published in the world leading economic media.

Share
Published by
The FxPro Analyst Team
Tags: Bitcoin

Recent Posts

Video: Dollar and Indices are trying to find footing after the fall

The dollar experienced a sell-off but rallied back up by the end of the week.…

17 hours ago

What is next: BoJ, Fed, SNB & BoE Rates

The new week will be packed with economic data and decisions from key central banks.…

20 hours ago

Dollar attempts to rebound after oversold conditions

Despite economic factors working against the dollar, its oversold condition helped it this week or…

21 hours ago

USDCAD Wave Analysis – 14 March 2025

USDCAD: ⬇️ Sell - USDCAD reversed from key resistance level 1.4500 - Likely to fall…

22 hours ago

Solana Wave Analysis – 14 March 2025

Solana: ⬆️ Buy - Solana reversed from the long-term support level 113.75 - Likely to…

22 hours ago

Adobe Wave Analysis – 13 March 2025

Adobe: ⬇️ Sell - Adobe broke round support level 400.00 - Likely to fall to…

2 days ago