We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bearish
More View more
Real Time News
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.13% 🇬🇧GBP: 0.10% 🇨🇭CHF: 0.03% 🇨🇦CAD: -0.02% 🇳🇿NZD: -0.11% 🇦🇺AUD: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/SEL9ZfqXwT
  • RT @BChappatta: *KUDLOW: UNRESOLVED ISSUES IN PHASE 1 COULD SPILL INTO PHASE 2 this is farce
  • Why financial market traders must monitor both monetary and fiscal policy?Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/chL9NmEE6T
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.13% US 500: -0.20% Germany 30: -0.55% France 40: -0.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/68ZM5scRYu
  • German Finance Minister on Brexit Extension- Pushing Back the Data by Two or Three Weeks to Allow Ratification Will Rather Not Be a Problem- Reuters
  • Get trading education and join our analysts for live coverage of all major economic data at the DailyFX Webinars. https://www.dailyfx.com/webinars?re-author=Cottle?utm_source=Twitter&utm_medium=Cottle&utm_campaign=twr
  • The $JPY is overwhelmingly in the grip of fundamental and macro action, but $USDJPY charts show the pair in a fascinating spot. Get your market update from @DavidCottleFX here:https://t.co/nD8RuyzvGG https://t.co/aIKgiiuv0v
  • European Opening Calls from IG: #FTSE 7211 -0.02% #DAX 12692 -0.49% #CAC 5623 -0.61% #MIB 22398 -0.40% #IBEX 9331 -0.53% #STOXX 3585 -0.54% #SA40 49454 -0.31%
  • JPY Japan Sep Nationwide Department Store Sales YY: Actual: 23.1% Previous: 2.3% Tokyo Department Store Sales: Actual: 20.7% Previous: 4.7% Retail demand has clearly picked up ahead of planned sales tax hike
  • Trump Policies Invite Inflation But Gold Prices May Fall Anyway - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/10/23/Trump-Policies-Invite-Inflation-But-Gold-Prices-May-Fall-Anyway.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #gold #XAUUSD #Trump
Bitcoin Price Drops Below $10,000 as Regulators Grill Facebook's Libra

Bitcoin Price Drops Below $10,000 as Regulators Grill Facebook's Libra

2019-07-16 19:30:00
Peter Hanks, Junior Analyst
Share:

Bitcoin Price Outlook:

Bitcoin Price Drops Below $10,000 as Regulators Grill Facebook's Libra

Bitcoin slid beneath $10,000 for the first time since July 2 as Facebook’s David Marcus testifies before a US congressional committee this week. David Marcus is the head of Calibra, Facebook’s digital wallet, and his testimony has revealed widespread concern and criticism toward the digital asset space from US regulators. Although Libra is not yet a tradeable cryptocurrency, the comments toward the asset type have seemingly rattled other coins from Bitcoin to Litecoin.

Consequently, Bitcoin traded from $10,800 to $9,700 in Tuesday’s session after probing support around $9,545. The 38.2% Fibonacci level has held for the time being, but the prospect of increased regulation on cryptocurrency may continue to weigh on BTCUSD. Should the pressure continue, the largest crypto by market capitalization will look to subsequent trendline support marked by the lows in May and June.

Bitcoin Price Chart: 4 - Hour Time Frame (May – July)

bitcoin price chart

Conversely, bullish traders looking to drive the coin higher will first have to reclaim the psychological $10,000 level before they can test an ascending trendline from June and the 50% Fib around $11,525. Although the bullish trend witnessed throughout 2019 remains intact, fundamental drivers may continue to pressure BTC in the near-term.

Earnings season has arrived! Check out our Third Quarter Equity Forecast to read about the outlook for the S&P 500 as the season unfolds.

To that end, a gathering of G-7 finance ministers is set to cover digital assets in Chantilly, France on Wednesday and Thursday. Similarly, IMF Managing Director David Lipton recently issued a string of comments regarding the dangers of the emerging asset class. That said, the cryptocurrency space appears to be under fire from multiple fronts as regulators look to clamp down on untraceable currency flows. As regulators attempt to reel in Bitcoin and Libra, follow @PeterHanksFXon Twitter for updates.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more:Dow Jones, Nasdaq 100, S&P 500, DAX 30 Fundamental Forecast

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.