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Bitcoin returned to $9K and this is starting to disturb

Bitcoin is corrected to the round level of $9K, losing more than 2% over the last 24h. After such impressive jump in price, it does not cause anxiety among the participants of the crypto market. However, the inability to overcome $10K may hit the BTC and altcoins. Positive impulses on the digital currency market look rather fleeting lately.

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Encouragement around China’s transition to the blockchain may be replaced by disappointment, as the state-run media People’s Daily hastened to explain the situation with the statement of China’s leader. Switching to blockchain does not mean that Bitcoin is approved. China will maintain a tough stance on digital currencies, while it was one of the first countries to ban ICO and Bitcoin trading a few years ago.

The greed and fear index is at a neutral value of “53”, the BTC dominance index sank to 67.3%. The technical picture has become a little more gloomy. BTCUSD came close to the 50-day average. The ability to stay above $9000 will allow us to speak about the preservation of bullish moods, while a breakthrough of this level can open a direct way to the decline to $7500.

The FxPro Analyst Team


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