Ravi Menon’s Critique at GDEC 2023 Sparks an Anticipated Bearish Trend for Bitcoin

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Menon's Critique at GDEC 2023 Sparks an Anticipated Bearish Trend for Bitcoin  The critique of Ravi Menon, a managing director of the Monetary Authority of Singapore (MAS), sparks an anticipated bearish trend for BTC. These remarks mirror a growing doubt within financial circles. The misclassification of Bitcoin as ‘private’ also prompts inquiries into regulatory comprehension. Menon foresees a future financial landscape involving CBDCs, tokenized bank liabilities, and stablecoins, aiming to address the stability issues prevalent in cryptocurrencies.


Despite the validity of his arguments, the combination of Menon’s critique and regulatory ambiguities amplifies the anticipated bearish sentiment for Bitcoin. Investors might respond to perceived inadequacies, potentially exerting downward pressure on BTC prices. The evolving regulatory landscape and associated classification complexities further contribute to the prevailing uncertainty, suggesting a possible downward trajectory for Coin.

Key Bitcoin Levels to Watch – November 28

Menon's Critique at GDEC 2023 Sparks an Anticipated Bearish Trend for Bitcoin  

The second bounce off the rising trendline caused a massive rally to the upside. After reaching the $35000.00 price level, the impulsive momentum decreased as BTCUSD struggled to keep expanding.

The market is currently in a distribution phase as the price fails to keep rallying upward. After the formation of the upthrust to $38454.00, a significant markdown is likely to occur.

BTC/USD Key Levels

Resistance Levels: $37400.00, $43110.00, $48240.00
Support Levels: $31860.00, $28470.00, $24900.00

BTC Metrics

Total Market Capitalization: $1.18T 
Bitcoin Market Capitalization: $732B
Bitcoin Volume: $16.1B
Market Rank: #1

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *