Could Bitcoin Reach Key Support Levels on Asian Volatility? [Video]

Kiana Danial, CFP Invest Diva

As crypto-currencies become a tool for money laundering and criminal activities, the North Korean regime appears to be stepping up efforts to secure Bitcoin and other cryptocurrencies that could be used to avoid additional trade restrictions. North Korean hackers are increasing their attacks on crypto currency exchanges in South Korea and related sites. In the meantime, China plans to ban trading of Bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market after the country outlawed initial coin offerings last week. On the other hand, in the other side of the world, researchers at Finland's central bank have praised Bitcoin's economic system as revolutionary. However, this praise has not been enough to divert Bitcoin prices, as BTC/USD is approaching the 4,065 support level and the 23% Fibonacci retracement level on the daily time frame. As the fundamental volatility continues in the cryptocurrency world, we could see further drops in the pair towards 3,636. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.

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Kiana Danial, CFP

Invest Diva

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert.

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