Latest Bitcoin news today
- Bitcoin mining company Mawson Infrastructure Group said that it was suspending its major capital expenditures until market conditions stabilize.
- Roger Ver, known in the community as “Bitcoin Jesus,” owes crypto exchange CoinFLEX 47 million USD coin, says its CEO Mark Lamb.
- According to Glassnode, Bitcoin is experiencing the largest capital outflow event in history.
Bitcoin analysis
- Underlying contagion risks from failing crypto-related companies and the sustained drop in the price of Bitcoin should continue to put a bearish pressure on cryptocurrencies.
- Central banking heads – European Central Bank president Christine Lagarde, Bank of England governor Andrew Bailey, and US Federal Reserve chair Jerome Powell – will speak in a panel discussion at a European Central Bank forum later today. The chiefs are likely to reiterate the need to increase interest rates at a faster than usual pace.
Bitcoin price prediction
- Bitcoin price is likely to drop to the support at 19,750, and even 19,500, in the next day or three.
- The bearish scenario would hold true as long as the resistance at 20,150 is defended by the bears.
- If the bears fail to maintain the resistance at 20,150, the bulls will take advantage and likely reach the resistance at 20,430.
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Editing by Terence Lee and Lorenzo Kyle Subido
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