Bad times for crypto influencers – The National Assembly has vote the prohibition for the crypto sector to use influencers for registered and non-PSAN PSANs. Investors will only be able to turn to foreign content. For its part, the hashrate of Bitcoin made a new all-time high, and the price rose above $29,000 before falling around $28,200.
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Wet firecracker for the price of Bitcoin which stagnates in 24 hours
Overnight, Bitcoin (BTC) price managed to break above $29,000. It was very briefand the king of cryptocurrencies finally shows no increase:
As we can see, the price of Bitcoin recedes slightly in 24 hours. In the space of a month, the price of Bitcoin is up by 20%. In six months, the price of BTC climbs by almost 50%.
Bitcoin hashrate hits new all-time high
While the Bitcoin price shows a fall of almost 60% since the last all-time high marked at $69,000, the hashrate continues to climb :
Concretely, the hashrate is the total computing power for the creation of blocks and for the verification of transactions of a blockchain. Over the years, the hashrate of Bitcoin continues to climb, and this shows that miners trust this blockchain. That being said, this is not necessarily bullish for the price of Bitcoin in the short term, because there is no direct relationship between hashrate and price.
Bitcoin price fails once again at the resistance level at $28,500
Bitcoin price has bounced back to $26,600. During the night, the price tried to get out of the tidy between $28,750 And $26,600but the sellers showed up:
BTC failed to close above $28,750it is back at the level of the institutional bias (EMA 9/EMA 18) trending up. In fact, these moving averages could act as dynamic support. In the event of a rebound, the price must close above the last high at $29,180 to revive the momentum. Otherwise, a return to the level of the rack at $27,500 is conceivable. For its part, the RSI has broke the bearish trendline. Finally, the RSI would have to stay above this trendline, and show bottoms and rising tops.
In this context of drastic regulations in France, the Bitcoin hashrate continues to rise. Year after year, miners renew their confidence in the king of cryptocurrencies. The price of Bitcoin is far from making a new all-time high, but it is trying to return to the level of the symbolic bar of $30,000. Will the buyers manage to break the resistance at $28,500?
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