{"id":50086,"date":"2019-07-17T11:42:05","date_gmt":"2019-07-17T15:42:05","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=50086"},"modified":"2019-07-17T12:10:50","modified_gmt":"2019-07-17T16:10:50","slug":"bitcoin-loses-its-luster","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2019\/07\/bitcoin-loses-its-luster\/","title":{"rendered":"Bitcoin Loses Its Luster"},"content":{"rendered":"<p>Hello traders everywhere. Bitcoin experienced one of the most significant daily price losses of the year losing over -13% on Tuesday, its second-biggest daily loss of the year. In turn, that triggered a new red weekly Trade Triangle indicating that we are now in a sidelines position based on the intermediate to long-term strategy. In the short-term, this could be viewed as a switch from a bullish market to a bearish market for Bitcoin. <\/p>\n<div align=\"center\" style=\"margin-bottom: 20px;margin-top: 10px;\"><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/RtcgYoXcv24\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<p>Why the sudden move lower? I believe it can be directly attributed to the growing calls for regulation of Facebook's Libra project and cryptocurrencies in general. Facebook's plan came under attack at a U.S. hearing this week, with senators calling the company delusional and untrustworthy. They also questioned the social media giant on how it was planning to prevent money laundering. And, a week ago, President Donald Trump called for banking regulation on bitcoin and Facebook's Libra.<\/p>\n<p>Now many in the investor community are beginning to worry that Facebook's Libra project will end up fast-tracking regulations for the crypto market.<\/p>\n<p>What do you think? Will this move by Facebook fast-track crypto regulations? <\/p>\n<h2 style=\"color: #003380; font-size: 20px;\">Key Levels To Watch This Week:<\/h2>\n<p><!--more--><\/p>\n<ul>\n<li><strong>S&P 500 <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/CME_SP500\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(CME:SP500)<\/a><\/strong>: 2,912.99<\/li>\n<li><strong>Dow <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/INDEX_DJI\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(INDEX:DJI)<\/a><\/strong>: 26,465.32<\/li>\n<li><strong>NASDAQ <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/NASDAQ_COMP\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(NASDAQ:COMP)<\/a><\/strong>: 7,879.16<\/li>\n<li><strong>U.S. Dollar <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/ICE_DX\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(ICE:DX)<\/a><\/strong>: 97.55<\/li>\n<li><strong>Gold <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/NYMEX_GC.Q19\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(NYMEX:GC.Q19)<\/a><\/strong>: 1,422.40<\/li>\n<li><strong>Crude Oil <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/NYMEX_CL.N19\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(NYMEX:CL.N19)<\/a><\/strong>: 59.67<\/li>\n<li><strong>Bitcoin <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/BITCOIN_BITSTAMPUSD\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(BITCOIN:BITSTAMPUSD)<\/a><\/strong>: 13,200.00<\/li>\n<\/ul>\n<p>Every Success,<br \/>\nJeremy Lutz<br \/>\n<a href=\"http:\/\/www.ino.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">INO.com <\/a>and <a href=\"http:\/\/club.ino.com\/members\/?mktcode=blogjl\" target=\"_blank\" rel=\"noopener noreferrer\">MarketClub.com <\/a><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Hello traders everywhere. Bitcoin experienced one of the most significant daily price losses of the year losing over -13% on Tuesday, its second-biggest daily loss of the year. In turn, that triggered a new red weekly Trade Triangle indicating that we are now in a sidelines position based on the intermediate to long-term strategy. In [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":50088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6920],"tags":[6249,6320,6319],"class_list":["post-50086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ino-com-contributors","tag-dow-indexdji","tag-nasdaq-nasdaqcomp","tag-sp-500-cmesp500"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Loses Its Luster - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"description\" content=\"Bitcoin experienced one of the most significant daily price losses of the year losing over -13% on Tuesday, its second-biggest daily loss of the year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wwwtest.ino.com\/blog\/2019\/07\/bitcoin-loses-its-luster\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Loses Its Luster - 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