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Tuesday, September 26, 2017

Crypto News: Wait and Watch? Bitcoin Prices Hover Near Make or Break Level

Wait and Watch? Bitcoin Prices Hover Near Make or Break Level

What's behind bitcoin's recent lethargic price action?

Well, for one, investors appear to be waiting on the sidelines as they seek clarity out of China following news that the country's exchanges will shut down operations by October's end. Traders, it seems, are in no mood to take up big positions, as evidenced by the drop in the volumes.

But, coinciding with this decline has been lack of substance in the bitcoin-U.S. dollar (BTC/USD) exchange rate.

After a rally from the September 15 low of $2,908, bears made their presence felt but were reluctant to push the digital currency back to $3,000 levels. The weak selling pressure helped BTC regain some poise, although gains are now being capped at the key downward sloping trend line hurdle.


Full story at http://bit.ly/2jY85sf


Source: CoinDesk


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