Dash/Bitcoin Trading forecasts and signals

On the penultimate day of the working week, the cryptocurrency market shows a moderate decline. Bitcoin has been losing almost 5% over the past day and is trading around $33,500. Thus, the recent price rebound was almost completely compensated. The inability to overcome the threshold $40,000 dollars results in increased bear pressure. As before, the phrase “what does not grow – falls“ is extremely relevant for the crypto market. So far, the scale of the decline is not critical for the market, and a drop up to $30,000 will not mean a reversal of the broad trend. However, if we see a decline to $29,000 and below, this situation may well provoke panic sales. However, it is worth remembering: the more panicky we see sales, the more aggressive the purchases of hunters for discounts will be.The latest episode of the sale on the cryptocurrency market during the last quarter was associated with tough actions of regulators, the emergence of concerns about the possible curtailment of the incentive policy, loud populist statements regarding the non-environmental nature of bitcoin, as well as a decrease in institutional demand for digital currencies. Although sales have somewhat stabilized, the main cryptocurrency remains squeezed in the range between $30K – $40K.The hashrate of the bitcoin network has stabilized after a long period of decline due to the relocation of miners and the shutdown of equipment. Market participants assume that the most difficult moment after the statement of the Chinese authorities about the need for miners to curtail their activities in China has passed. At the moment, the computing power of the network is far from peak values. However, no one doubts that soon the miners will turn back on their equipment and the hashrate will begin to grow. This situation will bring the crypto market a more significant diversification of computing power, the distribution of mining plants around the world, but for China, the loss of control over the computing power of Bitcoin can turn into unpleasant consequences.Nevertheless, the country's authorities should have kept the competitor as close as possible, and not created conditions for even greater global attractiveness of the asset. After all, the more decentralized Bitcoin is, the higher its value in the long term. The relevance and need for Bitcoin is only growing as financial nuts are being tightened in all economies of the world. The world economy has very quickly gone from total globalization to a virtually global trade war. The policy of central banks gave birth to Bitcoin, which has undoubtedly become one of the iconic symbols of the new era and has the potential to turn into a separate ...

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 ...