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chocfingers
2021-06-09

Wowwww a lot of people are going to be hurt [Spurting]

Bitcoin Fall Has Strategists Seeing Possible Drop Toward $20,000

Another bad week for Bitcoin could be a precursor of more pain to come, according to strategists wat

Bitcoin Fall Has Strategists Seeing Possible Drop Toward $20,000

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Bitcoin fell about 2% to $33,000 as of 11:23 a.m. in Hong Kong and is down some 10% so far in June.</p><p>The largest cryptocurrency is “dangerously approaching the $30,000 level” amid growing regulatory fears in the U.S., and “a break of $30,000 could see a tremendous amount of momentum selling,” said Edward Moya, senior market analyst with Oanda Corp.</p><p>Bitcoin has dropped about $32,000 from its April record, roiled by a rebuke from billionaire Elon Musk over the energy it requires as well as a renewed regulatory crackdown in China. The ability of U.S. authorities to recover a high-profile Bitcoin ransom also dented the idea that it’s beyond government control, which has been an article of faith for some of the coin’s supporters.</p><p>Evercore technical strategist Rich Ross and Tallbacken Capital Advisors’ Michael Purves have both flagged the $20,000 area as a potential key level if Bitcoin breaks much lower than where it is now.</p><p>Others, however, remain confident about the longer term outlook. For instance, Michael Saylor’s MicroStrategy Inc. boosted a junk-bond sale to $500 million from $400 million to fund the purchase of more Bitcoin. MicroStrategy has emerged as <a href=\"https://laohu8.com/S/AONE\">one</a> of the most bullish public companies on cryptocurrencies.</p><p>About a week after Bitcoin’s mid-April all-time high, Purves had argued the bullish case looked “highly challenged.”</p><p>“How much lower can it go?” Purves asked in his note Tuesday. “The most obvious answer continues to be a complete retracement of the breakout from $20,000 -- in other words, back to $20,000.”</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Fall Has Strategists Seeing Possible Drop Toward $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin Fall Has Strategists Seeing Possible Drop Toward $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 13:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bitcoin-fall-strategists-seeing-possible-032609637.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Another bad week for Bitcoin could be a precursor of more pain to come, according to strategists watching the selloff in cryptocurrencies.Further weakness in its price may bring the $20,000 zone into ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bitcoin-fall-strategists-seeing-possible-032609637.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SEE.UK":"SEEING","GBTC":"Grayscale Bitcoin Trust ETF","MSTR":"Strategy"},"source_url":"https://finance.yahoo.com/news/bitcoin-fall-strategists-seeing-possible-032609637.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2142294876","content_text":"Another bad week for Bitcoin could be a precursor of more pain to come, according to strategists watching the selloff in cryptocurrencies.Further weakness in its price may bring the $20,000 zone into view as a downside target, according to Oanda Corp., Evercore ISI and Tallbacken Capital Advisors LLC. Bitcoin fell about 2% to $33,000 as of 11:23 a.m. in Hong Kong and is down some 10% so far in June.The largest cryptocurrency is “dangerously approaching the $30,000 level” amid growing regulatory fears in the U.S., and “a break of $30,000 could see a tremendous amount of momentum selling,” said Edward Moya, senior market analyst with Oanda Corp.Bitcoin has dropped about $32,000 from its April record, roiled by a rebuke from billionaire Elon Musk over the energy it requires as well as a renewed regulatory crackdown in China. The ability of U.S. authorities to recover a high-profile Bitcoin ransom also dented the idea that it’s beyond government control, which has been an article of faith for some of the coin’s supporters.Evercore technical strategist Rich Ross and Tallbacken Capital Advisors’ Michael Purves have both flagged the $20,000 area as a potential key level if Bitcoin breaks much lower than where it is now.Others, however, remain confident about the longer term outlook. 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Bitcoin Fall Has Strategists Seeing Possible Drop Toward $20,000

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