Hong Kong Bill Could Be Nail in Coffin for US-China Trade Deal

Trump will likely sign a bill supporting Hong Kong protests, according to reports. The bill has been vehemently condemned by China. Stocks took a hit as hopes of a U.S.-China trade deal by 2020 are squashed. President Donald Trump is expected to sign legislation supporting protesters in Hong Kong, according to a report in Bloomberg. The move would put Washington, D.C. on a collision course with Beijing and could squash any hopes of a U.S.-China trade deal before 2020.  Source: Twitter U.S.-China Trade Deal Hanging by a Thread  If passed…

Grayscale Files to Become First SEC Reporting Crypto Fund

Grayscale Bitcoin Trust is trading higher by 3% after it filed Form 10 with the United States Securities and Exchange Commission (SEC) to become the first-ever crypto fund to report to the regulator. Major Development The crypto ecosystem has grown at a breakneck pace over the past few years, and it can be said that a viable ecosystem has taken shape. Things like a Bitcoin fund could not have been envisaged half a decade ago, but they are now a reality. In a new development, one of those funds is…

Bitcoin (BTC) Price Primed For Breakdown Below $8K

Bitcoin price is extending its decline below the $8,250 resistance area against the US Dollar. The price is likely to decline below the $8,000 and $7,800 support levels in the near term. There is a major bearish trend line forming with resistance near $8,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). There are many bearish signs on the chart, suggesting a drop below $8,000. Bitcoin price is facing an uphill task near $8,200 and $8,400 against the US Dollar. Therefore, BTC is likely to decline…