The crypto-currency market is decreasing: China again exerts pressure

Today, the world’s major crypto-currencies have been reduced in connection with China’s news that on the territory of the country are going to block access to local and foreign platforms for trade in crypto currency. On average, the total capitalization of the market for the last 24 hours has decreased by about 16% and currently stands at about $ 587.00 billion. The issue of its regulation is also putting pressure on the market.

On Monday, the director of the Central Bank of Germany, Joachim Wurmeling, said that the regulation of crypto-currencies should be carried out on a global scale, while implementing a regulatory plan would be rather difficult in a global virtual community.

Technical analysis: Today Bitcoin’s price was fixed below the support line of the ascending channel on H4, while falling below the significant support level at $ 12,000.00. The next significant level of support is considered at $ 10 600.00. The breakthrough of this level will open the way to $ 9 300.00; $ 8 400,00. The main resistance levels are $ 12 800,00; $ 14,000.00.

Fig. BTC/USD. The current price is $ 11,684.030.

Alexander Sivtsov