Bitcoin price analysis: John Oliver lashes out on Bitcoin and cryptos, will $9,000 support hold?
|- Bitcoin is still trading in a volatile market as seen from the current price slump.
- John Oliver in his comedy show lashed out on cryptocurrencies.
Bitcoin price has continued the upside gains initiated on Sunday. The cryptocurrency traded as high as high as $9,853 at 10:00 GMT on Monday. The currency has however begun a downward roll during the trading on Monday afternoon. It is currently trading at $9,292 amid increasing sell-off.
Last week’s news on impending regulations on the cryptocurrencies could still be affecting the cryptocurrency market. The Security and Exchange Commission (SEC) announced that it will be requiring crypto exchanges to be registered. The other news from Japan’s regulator, the Financial Services Commission decides to halt trading activities of two cryptocurrency exchanges.
In other news, John Oliver trashed Bitcoin during his show ‘LastWeek Tonight’ on Youtube. The comedian ridiculed cryptos on the show. His show gets over 1 million views and could be contributing to the current price slump.
Bitcoin has been breaking past various support levels including $9,700 and $9,500. BTC/USD is trading way below the 100-SMA while the price is hitting the rocks at an alarming rate. It is unclear if the $9,000 level will stop the descent and prevent further losses.
BTC/USD intraday price chart
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