Monday, May 28, 2018

Bitcoin has been on a downward spiral ever since it failed to break through $10,000 per coin back on May 6

Over the course of the past three weeks, Bitcoin has fallen in price over $2300 and threatens once again to fall below $7000 per coin.  Yet perhaps what is most disturbing about this move is that ever since the cryptocurrency failed to break through the $10,000 resistance level earlier in the month, its trajectory has been steadily downward.

Bitcoin is not the only cryptocurrency to be experiencing a selloff as just overnight, the sector has lost over $12 billion in market cap value.
Cryptocurrency market has lost over $12B of its value in a recent couple of hours as all major coins woke up from sleepy Asian session and resumed the downside with force and vigor. 
Bitcoin, the largest digital currency by market value, touched $7,151, moving quickly towards critical $7,000 handle. 
Ethereum is one of the biggest losers. The coin is down nearly 10% since the start of the day, trading at $528 at the time of writing. Considering that bearish momentum is still strong, it may hit $500 handle looms really large. 
Ripple follows the same pattern, down 4% on the day. The coin touched $0.5735 low before retracing to $0.5796 at the time of writing. – FX Street
Last month affiliates connected to the Casey Research Group published a video in which they assert that nearly all cryptocurrencies will go to zero somewhere after July 21 when the G20 comes together to ban all cryptos as a threat to the global financial system.  And while this information has not been validated yet by other sources, Doug Casey's research over the course of decades has more often than not been proven to be correct.

Ie... take this below information with a grain of salt, and add it to the mix of other research and investigations you may do regarding cryptocurrencies.


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