On Donald Trump’s tax revelations, Bitcoin tests $11,000. Nevertheless, KuCoin’s $150 million can yet put a dampener on bulls.
As ranging behavior continues, BTC (Bitcoin) begins the week, pushing for $11,000. Nevertheless, the futures gap danger remains.
In the coming week, Cointelegraph looks at factors that can shape Bitcoin’s price action.
Trump tax files see eleven thousand dollars Bitcoin price bounce.
Sunday provided an unexpected boost to Bitcoin. It happened after a week of lackluster price performance. It was thanks to an investigation into United States’ President Donald Trump’s tax records. The New York Times published the results.
The details include just $750 in tax paid by Trump in his election-year 2016. Nevertheless, there are no further links to Russia – a major source of contention at the time.
Nevertheless, the publication can have implications for the chances of Trump in the run-up to this year’s elections. Thus, markets will watch keenly for fresh turbulence.
Trump had been fighting for hard and long to keep his tax records secret.
During a White House press conference, Trump responded that it is fake and made-up news.
On Sunday, BTC/USD climbed towards $11,000. Nevertheless, it hit resistance at around $10,950 to return to press-time levels just under $10,900.
That marks the upper end of the weekly range of cryptocurrency. It has failed to produce either a breakdown or breakout outside the zone between ten thousand and eleven thousand dollars.
Bitcoin is not making progress beyond $11,000. Nevertheless, it proves bulls right this month.
BTC/USD has now spent more extended trading above $10,000 than ever before – 64 days on Monday, as noted by various analysts on Sunday.
Anthony Pompliano is the co-founder of Morgan Creek Digital. He summarized the mood to cryptocurrency skeptics.
Part of a tweet reads that Bitcoin has spent a record sixty-three days above $10,000. Thus, it only shows signs of going higher.