Key events 14/06/21 - 20/06/21
| Biggest losers list: | ||
|---|---|---|
| 1 | DOTUSDT | -22.04% |
| 2 | ETHUSDT | -16.22% |
| 3 | BTCUSDT | -13.76% |
The past week brought fresh losses for crypto assets, with declines recorded more or less across a majority of them. That said, the majority of cryptocurrencies are holding steady within previously established ranges. This came as confirmation of ongoing uncertainty on the market.
Biggest losers list:
- Polkadot (DOTUSDT) -22.04%
- Ethereum (ETHUSDT) -16.22%
- Bitcoin (BTCUSDT) -13.76%.
The news climate has been largely mixed.
One negative factor for cryptocurrencies was the news that major Chinese mining farms in Sichuan province have received a notice requiring them to completely halt all mining activity by 20 June.
Information that the US Securities and Exchange Commission (SEC) has filed an additional request for comment in relation to VanEck's Bitcoin exchange traded fund (ETF) similarly failed to inject optimism into the market.
However, digital assets did receive somewhat of a boost from news that global equities index MSCI is reviewing the possibility of launching its own cryptocurrencies indices.
This week's ones to watch:
Bitcoin
Bitcoin (BTCUSDT) is moving towards the lower boundary of its previously established range. The $30,000 mark represents a significant support level. Nevertheless, there are currently reasonable grounds to expect that this level will be broken in the short term.
Here are 3 reasons to sell Bitcoin right now:
- Developed countries' central banks and governments continue to demonstrate a negative stance on digital assets and a keen intent to strengthen regulation of the market.
- The hashrate of the original cryptocurrency's network fell sharply after the decision by authorities in China's Sichuan province to halt operations of the region's major mining farms. This development will lead to a rise in transaction commission.
- Technical analysis: the $30,000.00 mark represents a strong support level for BTCUSDT. A break through this level would pave the way for further declines to $24,500.00.
Seize the opportunity and enter a position at the right time.
Open a position in Bitcoin now
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