BITCOIN

Ethereum has slid on its charts again at the time of writing. Over the last week, the coin lost about 10% of its value. The bears have strengthened in the market because the buyers have left the market. Technical outlook of the coin remained bearish and selling pressure mounted. The coin would continue to remain so over the next trading sessions. The coin also witnessed a sustained sell-off over the last 48 hours. Ethereum fell below its long standing support line of $1900.Over the last 24 hours the coin tried to recover itself but the bearish price action is still strong at the time of writing. The bears might be exerting pressure to push the coins below the price mark of $1700. A fall below the $1700 price mark will cause ETH to tumble further by another 19%. For the bulls to take a breather, ETH needs to trade above the $1900 price mark again. Ethereum Price Analysis: One Day Chart Ethereum was priced at $1700 on the one day chart | Source: ETHUSD on TradingView The altcoin was

Tesla CEO Elon Musk believes the U.S. economy is approaching a recession but he explained why it is “actually a good thing.” Musk has estimated that the upcoming recession will last 12 to 18 months. Elon Musk Discusses U.S. Recession Tesla and Spacex CEO Elon Musk shared his thoughts on the U.S. economy and the upcoming recession in a series of tweets Thursday. Responding to a question about whether “we’re approaching a recession,” he answered: “Yes.” However, Musk noted, “this is actually a good thing.” The Tesla boss explained that “It has been raining money on fools for too long,” stressing that “some bankruptcies need to happen.” He elaborated: “All the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!” His recession tweet followed a statement he made last week, stating that the U.S. economy is “probably” in a recession. He warned that things “will get worse,” and estimated that the recession could l