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BTC correction Prediction – The total market capitalization of cryptocurrencies has plunged by as much as 23% from the highs of $89.9bn on Monday. The declines happened amid news that Google (NASDAQ:GOOGL) will follow Facebook (NASDAQ:FB) and ban cryptocurrency and ICO advertisements on its applications.
The Google ban will come into effect in June of this year. It is also understood that Bitcoin prices have come under pressure, as a trustee of the now-defunct exchange Mt.Gox has been selling large amounts of bitcointo pay back creditors. Bitcoin has dropped to a price of around $8000, where it is at the break-even cost of mining. This may encourage some miners to turn off machines until the price recovers.
BTC correction Prediction
The buyers are out there (some battered and burnt), open interested is building. I would suggest, lets be patient and wait for the price action to lead the way.
What do you think, do comment –