Get the best parts of DailyFX.com in the new DailyFX App Fundamental analysis and financial markets. – Japanese FSA announcement knocks market sentiment.
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Bitcoin traded at a new seven-month low of $5,769 on Sunday as sellers continued to dominate. The BTC price has picked back up to currently trade around $6,150, but the seven-month low at $5,649 remains in sight and is likely to be tested again on the short-term.
If this level is broken convincingly, prices are likely to dip below $5,000 with the September 15 low at $2,970 the eventual target. The latest sell-off was sparked by news that the Japanese Financial Services Agency (FSA) demanded that six domestic cryptocurrency exchanges to strengthen money laundering controls and internal accounting. Read more from dailyfx.com…
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