The Regulator Strikes Back

ByteTree Market Health Update; Issue 46

Yet the trend remains stable

In years past, this recent anti-crypto legal and regulatory onslaught would have sent prices into a nosedive; quite possibly 10% for each incident. But this time the market has taken the news in its stride. That’s incredible when you think about it, especially when these agencies appear to be operating in concert (or just a coincidence?), presumably to inflict maximum damage. The resilience is proof that the network has matured a great deal, and value buyers are emerging that buy the dips.

ByteTree and Bitstamp

ByteTree has released a Bitcoin report that has been sponsored by Bitstamp. It gives a comprehensive overview of the space and we hope you like it. Download the report here.

Network Demand Model

The score has dropped to a 3 out of 6, with velocity, MRI, and short-term spend bearish. MRI turned negative last night. When MRI is negative, the Bitcoin price has tended not to rise. That said, I wouldn’t recommend using it as a short-sell signal either. Other than the short-term network, the remaining indicators are strong with fees rising rapidly.

Applied data for digital asset investors. ByteTree provides real-time data, fundamentals, technical and deep blockchain market analysis for Bitcoin, and more.

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