Bitcoin records its first weekly loss in two months with the activity of corrections and profit taking

The bitcoin currency declined over the course of trading last week, but in a limited range, to record its first weekly loss in two months, with the activity of corrections and profit taking, after it recorded its highest level in nearly five months at $ 5466 earlier in the trading week before, but the currency is still Bitcoin is currently trading above $5000 levels to maintain the gains it made during the recent period.

Bitcoin lost throughout last week’s trading about 0.6% in the first weekly decline, and despite this decline, the total market value of digital currencies amounted to about $186 billion, the highest since last November.

Bitcoin is still holding on to its gains and trading XM Above the $5000 psychological support level, the market is still in the bullish trend that started strongly with the beginning of April despite the lack of strong drivers supporting the bullish market.


Among the most prominent news circulated in the past week:

– The Coinbase Exchange announced the launch of a debit card in the United Kingdom that allows customers to pay through digital currencies such as Bitcoin, Ethereum and Litecoin. digital currencies.

The Director of the International Monetary Fund, Christine Lagarde, denounced digital currencies, describing them as “disincentives” in the sense that they clearly disturb the financial system, and that they serve as a catalyst to destabilize the finance and banking sectors, and added that regulation will play a major role in addressing these changes in the financial industry.

- Presented by a stock exchange Bithumb The cryptocurrency trading in South Korea reported that it incurred a net loss of $180 million in 2018, and attributed this to the widespread decline of the majority of digital currencies. Dollars in Ethereum.

– By staying in South Korea, it was reported that the country is considering plans to relax crypto regulations at the present time in order to help the digital market mature and grow, and the co-chair of the Fourth Industry Forum of the National Assembly said that his country’s government misunderstood the digital currency and made difficult decisions for it, indicating that The comments suggest that a change in South Korea's approach to cryptocurrency may soon occur.

Last week’s news emerged from the G-20 meeting that will be held next June, which is expected to discuss international encryption regulations for combating money laundering and terrorist financing.

– It was reported that China’s Planning Agency is currently planning to ban cryptocurrency mining operations in its country, and in the same week, the National Development and Reform Commission included cryptocurrency mining in the list of industrial activities it intends to abolish.


Mohamed Abdel Khaleq

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