BITCOIN PRICE MAKES $8325 HIGH by E. Okorie, 15th of MAY, 2019
On Tuesday 14th May, 2019 bitcoin made another year high of about $8325.00. The price has been quite stable within the $8000 mark and has found various support levels of $7630 and $7850 to keep it within the upward trend and above the $8000 price. We discovered a bearish trend under the hourly chart and this should test the the above support levels. We also expect these levels to hold firmly nevertheless investors needs to be cautious because such little trends may develop into a major trend. However, there is a clear channel showing that the bulls target the $8700 mark and would probably not settle for less.Several factors also led to the steady rise in bitcoin price
1. France adopted New Crypto Currency Regulations
A bill was created by the French Government to have a legal framework (Optional, mandatory license and types of funds which can be invested) for cryptocurrency service providers and I.C.O i.e - initial Coin Offerings. On April 15th,2019 , the Autorité des Marchés Financiers (AMF), published the adoption of Pacte Bill which regulates the country crypto industry.