Bitcoins Bearish Dive: Will It Hit $25K? Key Stats and South Koreas New Law You Need to Know (3 Headlines in 1)

Bitcoins Bearish Dive: Will It Hit $25K? Key Stats and South Koreas New Law You Need to Know (3 Headlines in 1)

This article discusses the recent bearish trend of Bitcoin, as it drops to $25.8K after crossing the narrow range, and the new law passed in South Korea that requires public servants to disclose their Bitcoin holdings.

Bitcoin (BTC) Resumes Bearish Ascent as Bitcoin Falls to $25.8K after It Crosses the Narrow Range – May 25, 2023

Bitcoin (BTC) has dipped even further since it breached the $26,400 level as it crosses the narrow range. The pricing range for the digital currency investment has been limited to $26,400 and $28,000. The bears have smashed the lowest price range at $26,400. The market will decline till it reaches its previous bottom of $25,700 if the bearish momentum persists. Nonetheless, the present range-bound motion will continue if the price pulls back into the range-bound region.

Bitcoin (BTC) Price Statistics Data:
• Bitcoin (BTC) price now – $26,287.42
• Bitcoin (BTC) market capitalization – $509,555,227,002
• Bitcoin (BTC) circulating supply – 19,383,468 BTC
• Bitcoin (BTC) total supply – $551,421,746,766
• Bitcoin (BTC) Coinmarketcap ranking – # 1

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Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000

dropped today to a low of $25,886 as bears breached the existing support. The cryptocurrency investment has been fluctuating betwixt $26,400 and $28,000 before the most up-to-date fall. The present support of $26,400 was broken because of  the price struggle betwixt buyers and sellers. On the positive side, 3 times, buyers were unable to maintain the price over the $27,500 high. The inability of purchasers caused Bitcoin (BTC) to decline. If the bearish momentum continues, the cryptocurrency investment will fall even more to a low of $25,700. The price of Bitcoin (BTC) will approach the oversold area before sliding to the anticipated low of $25,700. The expense of one Bitcoin (BTC) is $26,297 at the time of writing. Nonetheless, it is projected that the price of Bitcoin (BTC) would boost in the oversold area of the market. As prices boost, buyers will be drawn to the lower price points. The price of Bitcoin (BTC) is as of now circling over the $26,000 point of support. At level 37 of the Relative Strength Index for period 14, Bitcoin (BTC) is in the bearish tendency zone.

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South Korea Passes a Law Forcing Public Servants to Disclose Their Bitcoin (BTC) Holdings

In reaction to a scandal involving some National Assembly members moving whole lot of amounts of digital currency, the “Kim Nam-guk Prevention Law” was passed. The South Korean Government is enacting new laws that would make public servants disclose their ownership of digital currencies like Bitcoin. The National Assembly of South Korea has unanimously approved a bill requiring politicians and senior public officials to disclose their digital currency holdings. On May 25, at a plenary session, the parliamentarians passed the new legislation, reports by the regional news source News1. The bill reportedly includes changes to both the Public Service Ethics Act and the National Assembly Act. The National Assembly Act change received 269 votes from the 269 lawmakers present, and it was overwhelmingly approved. 268 of the 268 parliamentarians present voted in favor of amending the Public Service Ethics Act, receiving 268 votes. The latest legal changes in South Korea are a result of a whole lot of Government scandal involving some members of the National Assembly moving whole lot of sums of cryptocurrency.

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In the meantime, Bitcoin’s price was rejected on May 24 at the $27,500 level as it crosses the narrow range. The digital currency investment started to decline about 48 hours ago. During the previous 24 hours, the price of Bitcoin has been oscillating over the $26,200 support. Bitcoin (BTC) will gain momentum if it consistently trades over the $26,000 level of support. On the other hand, the value of the digital currency investment will fall sharply if the present support is breached.

Alternatives to Bitcoin

Bitcoin’s price has resumed its downward trajectory after losing the $26,400 support. The loss has been small as long as Bitcoin (BTC) remains over the $26,000 level of support. The price of the digital currency will revert to the range-bound area if the $26,000 support holds. The digital currency will boost and retest the preliminary resistance at $27,500 after regaining positive  tendency momentum. This will assist digital currencies like and others to boost. Nonetheless, Bitcoin (BTC) will become significantly oversold if it loses the $26,000 support. Although while some could lose out on the AiDoge presale, you have an opportunity to be in the lead. Enroll in the presale now to become a part of the growing Artificial Intelligence (AI) community. The journey has only just begun; you are still in the early stages. whenever purchasing that bag of Artificial Intelligence (AI) is your top priority. And once AiDoge can carry you to the moon, who needs expensive wheels? Do not let FOMO follow you once more! Get your Artificial Intelligence (AI) crypto tokens before the time limit expires. The presale has already generated $14 million.

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