Concerns among speculators have grown and Facebook’s decision to ban cryptocurrency and Initial Coin Offering adverts has not gone unnoticed. Eastman Kodak has delayed their launch of KodakCoin. Bitcoin is under pressure early today.
FUD Factor Increasing Nervous Sentiment, Facebook Move Hurts Cryptos
Cryptocurrencies declined on Wednesday as concerns mount in the sector and increase the ‘Fud Factor’. Fear, Uncertainty, and Doubts have escalated. Adding to the nervous sentiment has been the decision by Facebook to eliminate advertising related to cryptocurrencies and Initial Coin Offerings. However, skeptics point out that Facebook may be thinking about issuing its own cryptocurrency in the near future.
Another Downturn in Bitcoin as Questions Grow Loud, Growing Fear Factor
Bitcoin suffered a downturn yesterday, and it has not shown an ability to reverse substantially higher. Bitcoin is around 9700.00 U.S Dollars, and resistance continues to be the 12,000 level. However, the question being heard the loudest is, where the next Bitcoin support ratio rests? While the 9,000 juncture appears to be significant, if Bitcoin stumbles below the 8,700 U.S Dollars level, it will have wiped out its significant gains made the past two months. And if this occurs, speculators who remain in long positions may face tough decisions if uncertainty grows.
Eastman Kodak Delays Launch of KodakCoin, Questions of Value Asked
Eastman Kodak which announced only three weeks ago it would issue a cryptocurrency called KodakCoin, apparently is delaying the launch of the tokens. Upon stating its entry into the cryptocurrency world, Eastman Kodak equity doubled in value, but it has started to come under pressure, and a large number of traders are known to be shorting the company now. Critical reports about the valuation of KodakCoin have not been answered well, essentially leaving the venture to blow in the wind temporarily.
Innovations and Challenges in E-Commerce Highlighted
Over 4000 visitors are expected to attend Berlin’s E-Commerce Expo which will take place on the 15th of February, and exhibitors are expected to show new innovations.
- 15th, Germany, E-Commerce Berlin Expo
Yaron Mazor is a senior analyst at SuperTraderTV.
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