US Congressman Calls for Ban on Crypto Mining and Buying
Some time ago, the analysts giving their opinion on CNBC were required to disclose the conflict of interests, ownership of the stock, and the relation of their firm to the company they opine about.
Apparently, this is not the case for our legislators. Congressman Brad Sherman during the Wednesday hearing of a subcommittee for the House of Representatives Financial Services Committee suggested prohibiting US citizens from buying and mining cryptocurrencies. The California Democrat said that beyond cryptocurrencies being possibly used as a form of money soon, it can currently be utilized by tax evaders and countries trying to bypass U.S. sanctions. His largest donor is Allied Wallet – the company that will suffer a lot if the blockchain technology is implemented for financial transactions. No doubt Mr Sherman is very objective in expressing his opinions about the cryptocurrencies.
Many committee members expressed opposition to the idea of a central bank digital currency.
On a more positive note, Dr Eswar Prasad, senior professor of Trade Policy at Cornell University, contended that the existence of cryptocurrencies might have a positive impact on payments systems. Cryptocurrencies might "make transactions much easier ... and bring down the cost," but the advantages are limited now, according to Dr Eswar Prasad.
BTC.X in upward trend: price rose above 50-day moving average on June 23, 2025
BTC.X moved above its 50-day moving average on June 23, 2025 date and that indicates a change from a downward trend to an upward trend. In of 44 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on June 24, 2025. You may want to consider a long position or call options on BTC.X as a result. In of 140 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for BTC.X just turned positive on June 26, 2025. Looking at past instances where BTC.X's MACD turned positive, the stock continued to rise in of 63 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BTC.X advanced for three days, in of 439 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 5 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The 10-day moving average for BTC.X crossed bearishly below the 50-day moving average on June 22, 2025. This indicates that the trend has shifted lower and could be considered a sell signal. In of 19 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
BTC.X broke above its upper Bollinger Band on June 09, 2025. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for BTC.X entered a downward trend on June 29, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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