Bitcoin Today: hello Facebook

27 Jun 2018

Price
Bitcoin continues narrow lateral movement in the face of the Bearish Trend Line; it seems that the price will definitely need substantial support from the fundamental news to break through the Bearish tendency. Like in the last time, the long lateral movement says about low demand and could lead the price downwards. 6000.0 level should play a supportive role for the price, dive below the 5750.0 level will drive the price downwards to the 5000.0 support. Breakthrough of the Bearish Trend Line should be supported by high volumes and preferably and impulse above the 6300.0.

Today forecast
Trading in the 6000.0 – 6600.0 zone.

Latest news

• US Prosecutors Seize $17 Mln in BTC, Seek 4,000 BTC More for Dark Web Dealings
  U.S. law enforcement has seized $17 mln in Bitcoin (BTC) and other cryptocurrencies, and is seeking to seize about $24 mln more, from two Maryland, USA men, on charges of selling counterfeit drugs on the dark web, according to a Department of Justice (DoJ) press release published yesterday, June 26.
  In addition to around $17 million in Bitcoin and other cryptocurrencies, Law enforcement has seized $2.5 million in computer equipment, and over $1.5 million in cash. The government is further seeking to forfeit “no less than” $5.67 million, plus the value of 4,000 BTC (about $24 mln at press time), believed to be the proceeds of the illegal drug sales.
  The six-count indictment – unsealed June 22 – alleges that from Nov. 2013 through June 2017, Ryan Farace, 34, sold fake “Xanax” pills on the dark web in exchange for Bitcoin. Together with Robert Swain, also 34, he is further charged with laundering the proceeds through means “designed to conceal the source and ownership of the illegal funds.”
  Farace now faces a maximum sentence of five years in prison on drug distribution counts, with both men facing a maximum of 20 years’ imprisonment on money laundering charges.
  In February, a two-year study of the dark web ecosystem claimed that Bitcoin may be losing its cachet as the number one currency on darknet markets, seemingly due to users’ frustrations with network traffic and transaction fees.
  
• Facebook Reverses Ban on Cryptocurrency Ads, Maintains Ban on ICOs
  Facebook has updated its policy to allow cryptocurrencies to once again be advertised, while upholding its ban on the promotion of initial coin offerings (ICOs), in an announcement published Tuesday, June 26.
  Today’s announcement says the company has been looking into the best way of “refining” its blanket ban on cryptocurrency-related advertising “over the last few months,” in order to “allow some ads while also working to ensure that they’re safe.”
  Facebook's revised "prohibited products and services policy" now states:
  “Starting June 26, we’ll [...] allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.”