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Bitcoin (BTC), Ethereum (ETH) Prices Steady

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Bitcoin (BTC), Ethereum (ETH) Weekly Technical Forecast: Bearish

  • Bitcoin (BTC) prices find temporary support between Fibonacci levels from the 2017 – 2018 move.
  • Ethereum bounces off psychological support but a rejection of technical resistance drives price action into a narrow zone.
  • FTX collapse and ongoing investigation limits gains as investors turn to more secure assets.

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FTX, Sam-Bankman Fried and Cryptocurrency: What’s driving BTC?

Bitcoin (BTC) was able to avoid further losses over the past week despite the ongoing investigation into the collapse of FTX and its founder, Sam-Bankman Fried.

In less than two weeks, the former billionaire who founded the major crypto exchange has lost creditability and fame in the saga that has taken headlines by storm.

Updates in the FTX bankruptcy case

  • John J. Ray (who led the Enron bankruptcy) says FTX exhibited a “complete failure of corporate controls”.
  • Financial statements lack clarity as over a million creditors seek compensation for losses.
  • Contagion…

Read more…

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