Cryptocurrency Report | Where are the Bulls? 6-13-18

Crypto market daily report – June 13, 2018

The cryptocurrency markets continued on a slump on late Tuesday and early Wednesday, with BTC slipping below the $6,600 mark to trade at $6,575 at press time.

The bad news regarding the attacks on several exchanges, including the latest one on Bitfinex, have taken their toll, and several analysts expect the slide to take BTC below the $6,000 mark before effecting a rebound.

Bitcoin Cash also slipped below the $900 mark to trade at $870 at press time, although there’s strong support at the $850 level.

Ethereum also slid below a psychologically significant level—that of $500 and was trading at around $490 at press time on Wednesday.

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Bitcoin Chart 6-13-18 BTC USD

Bitcoin Chart 6-13-18 BTC USD

A flash update by the FTC – Will this be the end of Cryptocurrency scams?

Cryptocurrency scams will now be examined as per the new agenda released by the Federal Trade Commission [FTC] in Chicago. A workshop will be held on the 25th of June in the city of Chicago.

The Director of the FTC’s Bureau of Consumer Protection, Andrew Smith will talk about this during the introduction at the workshop opening which will be followed by three-panel discussions.

The first panel will give a history of uses of cryptocurrencies by the consumer while the second panel will look into examining different types of cryptocurrency scams.

The final panel will involve in discussions about enforcement approaches to combating cryptocurrency scams including law enforcement actions taken to date and challenges in effective enforcement.

About the Author

Pete is a full-time trader and mentor since 2000. Author of Equity Trader 101 and the Order Flow Method. He is dedicated to help self-directed traders to bust through the six-figure level.

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