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Bitcoin Price Slips Below $10,000 – Outlook Negative -

Feb, 26th 10:41

Bitcoin is priced at $9,452, a $110 loss on the day so far as the price continues to fall.

The news comes as the central Asian country of Uzbekistan has divided to embrace bitcoin technology. In accordance with a presidential decree, a law regulating “electronic money” is being prepared.Bitcoin.com report that the Central Asian country is also planning to open a center for distributed ledger technologies. Mining expenses in Uzbekistan are among the lowest in the world, as the country is a leading producer of electricity.

Uzbekistan is expected to become a major player in the crypto world as the third best-placed nation for cryptocurrency mining expenses, according to a recent study

On the technical charts, BTC/USD is trading in the red zone, below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 45.33 and the MACD is above the signal line but ready to make a negative crossover below the signal line.

Trade suggestion:

Buy digital Put options between 9189 and 9020, valid until 23:00 GMT February 26th, 2018