UTC-05:00,Sunday , May 24th 2020

CoinNess.com Analysis: BTC Likely In An Upward Channel

10:21 Wednesday , May 15th 2019
Although the increase in BTC has expanded, regulatory recognition remains the key factor in the long run. In fact, regulatory uncertainty has limited more funds from entering the market to buy BTC. For example, had the Bitcoin ETF been approved by SEC earlier, investors' concerns would have been dispelled and a unilateral rally in the price of Bitcoin would have been easier to be confirmed.
Citing report from jin10.com, European Commission will study possible laws for crypto assets according to the document draft. If European regulators "show leniency," it will undoubtedly exert a positive impact on the outlook for cryptocurrencies. Moreover, European regulations may further influence American regulatory policies on cryptocurrency, even pushing the latter to approve Bitcoin ETFs. If so, Bitcoin's rise is undoubtedly compliant, and the bull market will be just around the corner.
The arc bottom shape of BTC is obvious, and the bullish shape is more pronounced than at any time in the past 12 months. In the price-rising stage, there is no significant adjustment of daily K line in the short term, which is an excellent performance stage of BTC. Despite the heavy volume of BTC, its selling pressure goes up. However, new investors have set the capital cost at a high price, which is of great significance for the strong operation of BTC.
At the press time, the largest coin reads 7,916.59 USDT on Binance, down by 2.86% in the past 24 hours.