Elon Musk, Tesla’s founder and CEO, said the company wouldn’t accept Bitcoin as payment any longer. As a result, BTC/USD dropped to $45,300, the low unseen since March.
Vinny Lingham, Civic CEO: “For me, crypto is a bit too risky at its current point. I think the risks right now outweigh the upside in the short term anyway. There’ll be better opportunities later on.”
Despite the rise on Monday, Bitcoin failed to stick above the $4,000 level for a long time and formed a gap down on Wednesday. If the oldest cryptocurrency extends losses, it will fall to the support at $3,222. However, Parabolic SAR shows an uptrend for the digital asset. If Bitcoin recovers, it will rise to the resistance at $4,380.
In other news:
- The Japanese internet technology company GMO has recently announced that it is closing down its mining production.
- 8% of money transfers from the US are made with cryptocurrencies.
- During December 17-27, Bitcoin and Ethereum set records in the trading volume. Bitcoin trading volume reached $46 billion, while Ethereum’s - $18.5 billion.
- Bank of America wants to patent blockchain-technology for processing fiat currencies.
- Japanese financial corporation Mizuho Financial Group announced its plans to launch a cryptocurrency connected to the JPY.
Tesla reported better-than-expected earnings per share after the market closes and even boosted its profit by selling Bitcoin.
The greatest sale of Bitcoin keeps going.
The United States will release retail sales and producer inflation (PPI index) numbers at 15:30 MT time on June 15.
Gold has plunged amid the stronger US dollar as investors await the Fed’s meeting this week.
All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?