Bitcoin Briefly Falls Under $7,500, Crypto Miners Face Issues - March 18th Cryptocurrency News
Not Investment advice. Sources: Coinmarketcap.com, CNBC, bitcoinmining.com, skynews Bitcoin Price as of 9.26pm GMT $7,927.Bitcoin has been under pressure due to negative reports surrounding cryptocurrency exchanges and news about google's plans to ban crypto advertisements.
According to a sky news report today, Twitter might also introduce restrictions on crypto advertisements. Facebook already introduced a ban in January. And apparently Reddit has been banning crypto ads since 2016 but Reddit kept it quiet. It was also recently revealed that investors could face hefty tax bills from the IRS. It fell below $7,800 on Thursday but it then managed to climb all the way past $8,500 on Friday. Today we saw it drop to around $7,624. This is not the worst day Bitcoin had this year, that was actually February 6th, when we saw it head all the way to around $6,000 only briefly dropping below this level. Thomas Lee, Co-founder of Fundstrat Global posted on twiitter for those waiting for sub-$6,000, keep in mind last time it touched $5,900, it was for 30 minutes. He also posted on twitter that When sentiment is this awful in a market, we tend to see "FIRE, ready, aim"--meaning, bitcoin is vulnerable to selloff on negative headlines. Technicals are also not strong but that does not change the positive medium or long-term picture.