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Today’s Cryptocurrency Headline

Twitter co-founder Jack Dorsey has resigned as the company’s CEO. He believes the company is “ready to move on from its founder.” He will spend more time on Square which is a payments company he founded. He wants to focus on cryptocurrencies. Dorsey is a big fan of Bitcoin. He was enthusiastic about the world’s largest cryptocurrency because of its capabilities. He treats Bitcoin as an underlying Internet technology that is not controlled or influenced by any individual or entity.

BingX’s Bitcoin Chart

Source: TradingView& BingX

As we see mass adoption of cryptography and people around the world become more and more knowledgeable about the crypto space, the value of the industry is increasing. At the moment, predicting what will happen to the BTC price in the short term seems a bit difficult, especially given the sharp correction just over the past week. In both 2017 and 2018, BTC price fell around December, which many believe is because people tend to sell to cash out and go shopping around Christmas. On the weekly chart, unless BTC regains $60,000 this week, the downside risks remain high.

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