2018-7-23 19:35 |
Bitcoin continued its rally Monday, shrugging off regulatory and security worries that have dragged down cryptocurrency prices this year.
He also pointed to anticipation surrounding approval of a bitcoin ETF, which the Securities and Exchange Comission is reportedly due to decide in August.
From a technical perspective, Newton Advisor founder and analyst Mark Newton is also watching the “formidable area of resistance” near $8,000.
Bitcoin is still down more than 60 percent from its all-time high near $20,000 in December.
The entire market capitalization for cryptocurrencies has dropped by more than 50 percent this year, according to CoinMarketCap.com.
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