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Bitcoin price rises in spite of regulation to try

The Bitcoin price has been in the ascendant. So the price for the largest cryptocurrency according to market capitalization, was able to climb sustainably over

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Bitcoin price rises in spite of regulation to try

The Bitcoin price has been in the ascendant. So the price for the largest cryptocurrency according to market capitalization, was able to climb sustainably over the 10,000-US-Dollar-brand. Thus, the BTC has experienced over the course of a 24-hours-Plus of over five percent.

By Phillip Horch
At the 2. August 2019BTC$10.507,00 4.72%part Facebook Twitter LinkedIn xing mail

The price of Bitcoin climbs to the top. The current status of 10.545 US dollars, he was able to rise in the last 24 hours of 5.5 per cent. Thus, it has a market capitalization of a total of 186,9 billion dollars.

BTC is so, as well as the largest Altcoins Ripple and Ethereum unimpressed by the current regulatory approaches of the German government. Because these decided on 31. To monitor July, crypto-trade places in the future, strict. According to the draft law, the so-called depositaries for digital assets in the future, the watchful eye of the Federal financial Supervisory authority (BaFin) under.

in fact, this message may also have a positive influence on the Bitcoin price. As Dr. Sven Hildebrandt explains, this sends a positive Signal for institutional investors who were previously deterred by the unregulated nature of the crypto-Ecosystem, rather.

Positive signals from Overseas

it Swivels the view over the pond, can also be used here, positive signals identify, for a rising Bitcoin price. So the US was expressed by Senator Mike Crapo from Idaho concerns whether a possible regulation of crypto-currencies:

If the United States were to decide – and I'm not saying that you should – if the United States would decide that it is in the United States no crypto-currencies, and would try to ban them, then I'm pretty confident that we would have no success with it, because this is a global technology, a global Innovation.

The strategy has to be: Useful to regulate instead of the prohibition swing club.

Also, the reduction in the US key interest rate is sometimes as bullishes Signal is interpreted out of the US Dollar, clean in crypto-currencies.

Technical analysis of the Bitcoin price

As always, the technical evaluation of the Chief Analyst, Dr. Philipp Giese.

The price of Bitcoin (here are couple of BTC/USD on Bitstamp) was able to increase its at the beginning of July started the downward trend in break and again over the 10,000-US-Dollar-brand shown with the value. To speak of a resumed bull market, however, is a little early: Currently the plain represents the average of the last 50 days of (green) is a important Resistance.

The indicators are currently still undecided: The MACD is negative, but rising again. The RSI is also moving upwards, and could exceed 50. The Aroon Down indicator is high, but falls again. Overall, we are therefore on a neutral course evaluation. The rate should be the moving average of the last 50 days, you can join 11.080,37 dollars in a Long Position.

A first Target would be to find 12.920 US dollars. For the Stop Loss you can use the above-mentioned moving average of the last 50 days. This currently stands at around 10.500 US dollars. Should the share price fall below the Support in the case of a contribution of 9.427,45 US-Dollar, a Short Position, the Target at the height of the sliding average of the last 20 weeks in the current 7.632,99 US-Dollar. As a Stop can be based Loss also in this case, the sliding average of the last 50 days.

data and graphic from trading view.

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