RATE Group | Bitcoin Today: Prices Come Off Weekend Lows but Remain Trapped Under $8,000
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Bitcoin Today: Prices Come Off Weekend Lows but Remain Trapped Under $8,000

30 May Bitcoin Today: Prices Come Off Weekend Lows but Remain Trapped Under $8,000

Posted at 00:29h in Bitcoin News by

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Bitcoin managed modest gains on Tuesday, May 29, after falling to perilous lows earlier in the session. Here are the headlines you can’t miss in cryptocurrency Tuesday. 

Prices Stay Low

Bitcoin fell to a seven-week low on Tuesday near $7,050, breaching support of its 50-week moving average for the first time since 2015. Prices have sold off in recent days from a high of $9,900 set on May 6. The top cryptocurrency by market value has spent the last six days trapped under $8,000 after previously remaining atop that level in every trading day since April 12. Technical analysis from Coindesk suggested that this week’s selloff could indicate the capacity for bitcoin to drop to as low as $6,900. According to technical analysts, that could mean bitcoin has room to continue as low as $5,000.

Korea Could Reconsider ICO Ban

South Korea’s National Assembly is pushing for the removal of the country’s current ban on initial coin offerings, or ICOs, BusinessKorea reported. The Korean…

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