Bearish signs are showing Bitcoin is near to turning point

Bearish signs are showing Bitcoin is near to turning point

It’s suggested that Bitcoin is coming to a turning point as cryptos conflict with larger inspection and bearish symbols pile up.

BTC is really close to further losses, this is obvious cause some technical factors are pointing on this.

A queue of negative modifications brought cryptocurrencies to lower levels during this month. One of these changes was the announcement of Facebook about the plans of launching its own cryptocurrency Libra. During Congressional testimonies in this month, lawgivers lambasted the head of Facebook’s blockchain team David Marcus, citing security and secrecy concerns, among many other things. The corporation’s crypto launch came in very improper time: the US Justice Department proclaimed about starting a program, which is going to examine all the large tech platforms because some of them have become too large and strong.

Last week was also notable. The Internal Revenue Service sent letters to more than 10000 cryptocurrency owners and informed them that they can be ruled to punishments for skirting taxes on their finances.

Bitcoin lost about 20% in this month, Litecoin dropped more - 25% during the same time and Ether decreased in price approximately on 32%.

On July 30 there’s a planned conference named “Examining Regulatory Frameworks for Cryptocurrencies and Blockchain.”