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The BTC tug of war turned decisively in favor of the bulls late Monday as the price blasted past $9,500 to establish a local high of $9,780. The mini-rally occurred over a span of barely four hours, following which things seem to have calmed down a bit.
The alpha-crypto is changing hands for about $9,650 as of this writing. However, the odds of this quasi-stability turning into yet another full-fledged breakout attempt remains strong. If the bulls have their way, as they did on Monday, five-figures could very well soon be on the cards.
Continue reading for a more thorough analysis of’s price movement, along with other big stories from the day, in BeInCrypto’s Crypto News Roundup for June 23.
The daily chart shows that even though BTC created a bullish engulfing candlestick yesterday, it did not close with considerable volume. It’s useful to compare this with the bullish hammer created on June 15.
This puts into doubt the strength of the current move. Also, there’s stiff resistance at both $9,900, and $10,050.
In this report, BeInCrypto’s in-house technical analyst Valdrin argues that the Bitcoin price could be in the B-Wave of an A-B-C correction or in the fifth and final wave of an impulsive move.
Another possibility is that the price has just begun its fifth wave, also measured from the March 13 bottom. In this case, what was previously wave A of an A-B-C correction, is instead wave 4 of the impulsive upward move.
Bitcoin and its brethren are certainly no stranger to hostile governments. Over the past decade, the nascent-but-thriving asset class has been bullied in every which way by the powerful nexus of ruling elites, central banks, regulatory bodies, and even mainstream financial institutions.
So far, crypto has survived all attempts to strangulate it into oblivion. However, in the absence of a global crypto regulation standard, international organizations warn about the dangers of regulatory arbitrage.
In this article, BeInCrypto writer Osato Avan-Nomayo sheds light on the state of crypto regulation (or lack of) in the world’s major economies, including the US, the UK, Japan, India, and South Korea, among others.
In a surprise move, Binance announced Monday that it’s adding DigiByte (DGB) trading to its platform. At launch, DGB will be available only in three pairs – BNB/DGB, BUSD/DGB, and BTC/DGB. Binance also made sure to clarify that DigiByte didn’t pay any fee for the listing.
Just in case you were out of the loop, the announcement sheds additional light on the personal grudge-match that exists between DGB’s founder, Jared Tate, and Binance CEO Changpeng Zhao.
It stands to reason then that the biggest beneficiary from this Decentralized Finance (DeFi) is a term that is being used to describe the world of financial services that are increasingly... More boom should be Ethereum. But any real price momentum has yet to materialize for the world’s second-largest crypto asset.
Ethereum has had a slow and steady burn this year, starting out on New Year’s Day at $130 and rising 85% to current levels around the $240 mark. However, winding the clock back to mid-2019, before DeFi really started to take off, shows that ETH prices are still down 32%.
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