Bitcoin Price Rally Is Over


Bitcoin (BTC) is struggling to extend its uptrend. It soared above 22% and hit the critical resistance level in early trade yesterday – BTC price trades below 9K today. Bitcoin price declined slightly in today’s trade with stiff resistance from bears – who believe regulators will kill illicit activities, which accounts for the significant portion of the trading volume.

Following U.S. regulators, the U.K. has set up a task force to look at the pros and cons of cryptocurrency markets. The task force consists of watchdogs from Britain’s Central Bank, the Financial Conduct Authority and, the …

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