Risk

The number of fraudulent cryptocurrency startups and suspicious companies not properly registered with regulators is growing. This makes governments and watchdogs alerted about the security of their citizens. For instance, the government of Singapore recently passed a warning to all of its citizens of the risk of involvement with cryptocurrency.

During the Covid-19 pandemic where congregating is a very big risk to our health, cryptocurrency has become a godsend to gamblers because it provides the unmatched social distancing required in the fight against coronavirus.

Bitcoin has continued to fall after a second rejection from the recent high. The coin is still fluctuating above the $33,000 support.

Any business carries a risk and so is cryptocurrency trading. The digital currency market is volatile, so a trader has to come up with a calculative approach to use in leverage trading.

For the past week, buyers made two unsuccessful attempts to push LTC above the $46 resistance. The bears defended the recent high as LTC was pushed to the $43 low.

Bitcoin has continued to consolidate between $9,000 and $9,200 support. The king coin has been battling with rejection at $9,300 and $9,400 resistance.