{"id":253375,"date":"2018-06-22T07:18:07","date_gmt":"2018-06-22T05:18:07","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=253375"},"modified":"2018-06-22T07:18:07","modified_gmt":"2018-06-22T05:18:07","slug":"bitcoins-bad-year-looks-to-be-getting-worse","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/253375\/bitcoins-bad-year-looks-to-be-getting-worse\/","title":{"rendered":"Bitcoin&#8217;s bad year looks to be getting worse"},"content":{"rendered":"<div class=\"article-content\">\n<p>Bitcoin\u2019s bad year may be getting worse.<\/p>\n<p>The world\u2019s biggest cryptocurrency, which nearly reached $20,000 in December, has lost almost two-thirds of its value since then. And according to the Directional Movement Index, Bitcoin is on its strongest negative trend since the sell-off earlier this year.<\/p>\n<p>The index\u2019s ADX line is currently at 39.3. Anything above 25 is considered a strong trend.<\/p>\n<p>Meanwhile, the index\u2019s DVAN trend line, a divergence analysis that measures buying or selling pressure, is also giving off ominous signals.<\/p>\n<p>Data show that the market in June has been holding onto an overall bearish sentiment, characterized by the red band in the top-most chart above, that started around mid-May.<\/p>\n<p>With no end in sight to the selling trend in Bitcoin, the digital currency could test its 2018 low.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Bitcoin-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-253377\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Bitcoin-1.png\" alt=\"\" width=\"1200\" height=\"675\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Bitcoin-1.png 1200w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Bitcoin-1-300x169.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Bitcoin-1-768x432.png 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Bitcoin-1-1024x576.png 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/banking\/253049\/how-the-worlds-richest-people-feel-about-bitcoin-and-other-cryptocurrencies\/\" target=\"_blank\" rel=\"noopener\">How the world\u2019s richest people feel about Bitcoin and other cryptocurrencies<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s bad year may be getting worse.<\/p>\n","protected":false},"author":59,"featured_media":225247,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[5537,26],"class_list":["post-253375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bitcoin","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/253375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=253375"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/253375\/revisions"}],"predecessor-version":[{"id":253379,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/253375\/revisions\/253379"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/225247"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=253375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=253375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=253375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}