Bitcoin Bulls to Play Long

Number of Bitcoin long positions had updated the 5 month' maximum
10 January 2019   1066

On Wednesday, January 9, the number of long positions on Bitcoin on the popular Hong Kong exchange Bitfinex updated a five-month high, reaching 33,750, reports CoinDesk.

At the same time, the number of short positions was at 22,787. Thus, the ratio of longs to shorts was 1.5: 1 - the highest since August 6.

Meanwhile, the price of Bitcoin for the last day dropped by almost 6%, again dropping to $ 3,800.

Note that all the leading coins from the CoinMarketCap list, except TRON, have suffered even more.

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   302

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.

 

People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.