Bitcoin’s Sideways Trading to End in Explosive Downside Movement

Bitcoin has seen some intense weakness today after trading within the upper-$9,000 region yesterday. Its latest rally higher led it all the way up to highs of $9,800, which is the level at which it found some significant selling pressure that subsequently caused its price to start declining lower. The follow through on the downwards momentum incurred here does seem to suggest that further weakness is imminent in the days and weeks ahead. One popular analyst is now noting that he believes the cryptocurrency’s long-held bout of sideways trading is…

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Bithumb Exchange to Reportedly File for IPO in South Korea

Major South Korean cryptocurrency exchange Bithumb is planning to hold an initial public offering (IPO), according to reports from local media.  As reported by MoneyToday on June 24, Bithumb Korea, the trading platform’s operator, has begun preparing for a stock market launch, tapping Samsung Securities as its underwriter.  Bithumb is reportedly facing a number of potential obstacles that could prevent it from successfully filing an IPO in South Korea, namely recent crypto taxation issues. Earlier this month, the South Korean Finance Minister, Hong Nam-Ki, announced plans to impose a tax…

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