The positive momentum was fueled by reports that Internet giant Amazon.com Inc. by the end of the year, may start accepting several cryptocurrency tokens (BTC, ETH, ADA, and BCH) to pay for goods. This information led to the liquidation of $111M short positions, which occurred within just 10 minutes. Later, employees of Amazon.com Inc. stated that the company does not have specific plans for cryptocurrencies, but they could no longer influence the growth of the digital asset market.
The instrument met the current week with a pullback. Some investors are fixing profits after a seven-day growth, also, the price is negatively affected by reports of the US Department of Justice's inspection of Tether's activities for possible banking fraud. According to the results of the audit, the organization may be subject to legal action, which will negatively affect the entire cryptocurrency sector since USD 62B worth of USDT tokens are in circulation.
The instrument met the current week with a pullback. Some investors are fixing profits after a seven-day growth, also, the price is negatively affected by reports of the US Department of Justice's inspection of Tether's activities for possible banking fraud. According to the results of the audit, the organization may be subject to legal action, which will negatively affect the entire cryptocurrency sector since USD 62B worth of USDT tokens are in circulation.
Note
HL*(Higher Low) Instead of LH (Lower High).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.