Bitcoin doesn’t give up! Ban crypto currency advertising restrains its recovery

The price of bitcoin and a number of other world leading crypto currencies rose in value during the trading session on Monday, despite the news that Twitter Inc. can follow the example of Goggle and Facebook and ban advertising related to crypto-currencies. The new policy of the company can come into force in two weeks. In turn, the positive attitude towards using crypto currency is still preserved. The American electronic payment processing company Square said that it is considering ways to integrate Bitcoin into its operations. Jack Dorsey, who is the co-founder of the company and its chief executive officer, believes Bitcoin is “a transforming technology that is a step towards wider access to the financial market for all”

Technical analysis: On the D1 chart, Bitcoin’s price couldn’t confidently gain a foothold above $ 8,200.00, which indicates that bulls do not have enough strength. In turn, view about continuing the decline in the price of crypto currency is also not worth it, due to the absence of significant fundamental factors for its further reduction. In the event that the price of the currency on the daily chart is fixed below $ 8,000.00, one should expect its further decrease to $ 7 300.00, $ 6 500.00. In case of successful consolidation above the level, we should expect further growth of the price of the crypto currency to the levels of $ 9,200.00, $ 9,800.00.

Fig. BTC / USD Graph. The current price is $ 8,189,480.

Alexander Sivtsov