Showing posts with the label btc

BCH Price August 25

The decline in Bitcoin Cash price from early May continues. This decline has been closely mirrored by the Market Capitalization for the full duration of this interval. Over the shorter-term period of the last month, this correlation is still evident visually, suggesting the two parameters are responding to the same signal. Coin Telegraph notes that following an SEC decision against authorizing 9 proposed BTC ETFs on August 22, the market didn't react harshly as it has in the past to negative SEC rulings. They reason this suggests this was not a crucial assumption in strategies employed by purely speculative investors.This along with resilience to increased cryptocurrency restrictions in China is taken as a sign by Coin Telegraph that bears are diminishing in control. Bloomberg reports that the GTI VERA Convergence Divergence Indicator is signaling a trend reversal is possible for BTC price. This preceded a 39% increase over the next month the previous time this signal was detected