Stock Market

Bitcoin's meltdown looks to grow worse before things get better

   Download Android App    Share in      FullScreen   CheckVideos

By Olga KharifIf you think that Bitcoin has hit bottom after the latest round of violent price drops, think again. While the world’s largest cryptocurrency is down 65 per cent since its peak in December, technical indicators suggest there’s worse to come.

Bitcoin has consistently had lower peaks since its apex in December, with each new high lower than the last.

In addition, the Directional Movement Index signals the bullish buying pressure came to an abrupt end, and a new selling pressure trend has started. The trend may explain increased hesitance by institutional investors to get involved.

Goldman Sachs Group Inc.

is pulling back on near-term plans to set up a crypto trading desk, according to reports. Many investors have already gotten burned, and more could still do so.

Crypto hedge funds are down by nearly 50 per cent so far this year, according to the Eurekahedge Crypto-Currency Hedge Fund Index.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Stock Market


21