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Bitcoin steadies in Asian trading

Yesterday the slide in Bitcoin was covered in updates here at the time, as the lead cryptocurrency tumbled to a low at 40,968. The collapse from above 45k was all due to reports and speculation; that the SEC would not allow the granting of an ETF licence for BTC. The decision from the SEC is due sometime this month. The slide of more than 9% from the top to the bottom yesterday, was not alone, as a number of other leading coins and exchanges felt the heat of all this too. However, Bitcoin did rebound above 43,500 following that slide. It has traded mostly sideways since, in a range covered by 42,150 to 43,300. It is going to be hostage to further headlines again today. The fall yesterday was halted by the 50 day moving average, which was in place then right on the low seen. It is still rising and in place today at 41,084. Bitcoin has not traded below this moving average since September last year, so it is an important price point, if another shunt lower is seen. Bitcoin is currently trading at 43,230, which is right now back above its 21 day moving average. That is currently in place at 43,021 
 

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