Weekly crypto sentiment brain-powered by the most authoritative experts from the trading network.
The last seven days, as usual, were filled with events affecting Bitcoin. At first, the negative wave caused by U.S. Securities and Exchange Commission (SEC) as the organization suspended the trading of the cryptocurrency-related securities. Then the splash of positivity from Morgan Stanley, announcing the intention to offer Bitcoin swap trading for clients. Let’s recall the major newsbreaks for Bitcoin that happened during this week and see how traders were reacting to those:
- In the middle of the week, the Treasury Committee of the House of Commons in the Parliament of the United Kingdom announced that it had strongly believed that regulations for crypto assets and Bitcoin should be introduced.
- The next day, on the 20th of September the major news was the hack of Osaka-based Tech Bureau, which operates virtual currency exchange Zaif. Company’s servers had been illegally accessed, and around 6.7 billion yen ($60 million) worth of cryptocurrencies has been stolen.
- Another important message of the day was the U.S. Securities and Exchange Commission (SEC) announcement. The organization has begun proceedings to decide whether to approve a proposed Bitcoin exchange-traded fund (ETF) filed by Cboe BZX Exchange, Inc. Although The SEC has already delayed the decision-making process on the case once, any updates related to the topic always lead to the full range of emotions amongst Bitcoin supporters.
Overall sentiment based on all ideas published on TradingView within the course of the last seven days was as follows: 58% of traders on the platform were bullish, and 42% were bearish. 71% bullish, 29% bearish is the ratio among the top 10 Bitcoin traders.
Moderate changes compared to the previous week, all within 5-6% range.
Since Bitcoin trading sentiment during this week was bullish, it not surprising that one of the most viewed TradingView ideas of the week was positive too: platform’s user ProwdClown is predicting $15,000 price per Bitcoin by the end of the year. Check the chart for more details: