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China urged to "stop the chaos" around Bitcoin

Dash/Bitcoin, cryptocurrency, BitcoinGold/Bitcoin, cryptocurrency, Bitcoin/USD, cryptocurrency, BitcoinGold/USD, cryptocurrency, BitcoinGold/Ethereum, cryptocurrency, China urged to \

The Chinese authorities in a new publication criticized cryptocurrencies and mining.

The official news agency of the Chinese government, Xinhua, published an article titled "Urgently stop the hype and chaos around the virtual currency". It was a continuation of the statement of the State Council of the People's Republic of China, which on Friday called Bitcoin mining and trading financial risks.

The article talks about four risks associated with trading and using cryptocurrencies: market, transactional, technological and legal.

"Cryptocurrencies carry the risks of large losses to investors and can affect the financial stability of the state and the order in society. It is necessary to stop the chaos in the virtual currency market", the Chinese authorities are confident.

In their opinion, investors should not trade Bitcoin, and financial companies should not support such activities.

Separately, the publication mentions mining and projects that mislead the authorities "in order to get support." The agency also warned organizations working with participants in the cryptocurrency industry about responsibility.

According to Reuters, the mining activity of BTC.TOP and company HashCow (Bitcoin mining) have already suspended operations in China.

Journalist Colin Wu noted that there is currently no specific information beyond the statement of the State Council. According to him, because of this uncertainty, any news or rumors "can cause volatility in the market."

According to TRON founder Justin Sun, the bull market is not over yet, and July and August will mark the beginning of a new round of the bull market.

China is strengthening its control over financial markets, acting from different sides, and these steps have an impact on the entire financial system. At the same time, China is taking new steps to restrict the mining of cryptocurrencies in the country and the possibility of paying with them. These steps  deal damage to the crypto market.

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Forex Signals for EUR/USD, GBP/USD and USD/CAD on 29/09/2022
EUR/USD, currency, GBP/USD, currency, USD/CAD, currency, Forex Signals for EUR/USD, GBP/USD and USD/CAD on 29/09/2022 EUR/USDThe pair EUR/USD is trading within the ascending price channel on the hourly chart. I recommend opening long positions in case of breakdown of resistance at 0.9700 with the aim of going up to resistance at 0.9747-0.9800. Stop below 0.9640.I recommend opening short positions after breakdown of support at the level of 0.9648 with the aim to go down to the support at 0.9596-0.9546. Stop above 0.9710.GBP/USDOn the basis of technical modeling on pair pound/dollar the forecast of the further movement was formed and the average urgent predisposition to decrease.In this technical situation, the pound can be sold from the level of 1.0909, you can also put a pending sell order at 1.1075 for the purpose of reducing to the support area at 1.0266-1.0104, a stop in this strategy can be placed at 1.1225.If we gain a profit of 30 pips or more, we fix 50% of the position, and place the rest of the profit at no-loss. If this forecast for GBP/USD coincides with your opinion, then you should feel free to use this strategy.USD/CADUSD/CAD is trading in an uptrend on the 4-hour chart. It shows that the USD/CAD is trading above the 55 moving average on the hourly chart (level 1.3688), which generally contributes to the price increase in the short term. I recommend to work on this pair from the sales on the basis of the existing wave model.The signal for long position opening will be a break-down of resistance at 1.3734 with the aim to go up to the resistance level of 1.3807 and in case of its break-down at the end of the hour to 1.3877. Stolploss may be placed at the level of 1.3590.The signal for the opening of a short position is a breakdown of support at 1.3596 and the aim of downward movement to 1.3512, in case it is broken through 1.3442. Stolploss for this strategy may be placed at the level of 1.3745.Considering that the moving average and the location of the boundaries of technical figures move over time, it is necessary to make corrections in their positions on the hourly chart. I also recommend opening positions by the end of the hour to avoid false breakouts. More about USD/CAD tradingIf you are interested in USD/CAD analytics, we recommend you to visit the analytics page, where you can find the latest analytics on Forex from top traders from all over the world. These analytics will be useful both for beginners and professional traders. The Forex signals service makes it much easier for beginners to make their first steps in trading on the financial markets. The latest USD/CAD forecasts and signals contain support and resistance levels, as well as stop-loss levels. 
Sep 29, 2022 Read
Forex Signals for EUR/USD, GBP/USD and USD/CAD on 28/09/2022
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Forex signals for EUR/USD, GBP/USD and USD/CAD on 27/09/2022
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Forex signals for EUR/USD, GBP/USD and USD/CAD on 26/09/2022
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Forex signals for EURUSD, GBPUSD and USDCAD on 23/09/2022
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Sep 23, 2022 Read
Forex Signals for EURUSD, GBPUSD and USDCAD on 22/09/2022
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Sep 22, 2022 Read
Forex Signals for EURUSD, GBPUSD and USDCAD on 21/09/2022
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Sep 21, 2022 Read
Forex Signals for EURUSD, GBPUSD and USDCAD on 20/09/2022
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Sep 20, 2022 Read
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