Get DailyForex analysis to your emailBitcoin continues to languish near dangerous lows, this after flirting with a brief run higher at the end of the second week of December.Time has delivered no comfort for Bitcoin bulls who continue to dream of higher values that were promised by influencers and crypto evangelists. BTC/USD continues to trade in the lower depths of its range and it is testing the 16,600.00 ratio as of this writing.
Wagering on BTC/USD should be done with extreme caution and very conservative leverage. Traders should know all the costs before they enter any transaction. . While Bitcoin influencers will say this has nothing to do with the fundamentals of BTC, they actually are wrong. Bitcoin miners need a high price for BTC/USD to make their transaction functions worthwhile to perform; they also need a higher price for Bitcoin to allow for profitable mining of BTC. And importantly the exchanges like finance serve as the backbone for traders of BTC/USD and other cryptocurrencies. A lack of trust in exchanges is very bad for market conditions.