The dip is not over, and this is a downtrend. Bitcoin dominance is over 40%, but RSI is oversold on all timeframes. Bitcoin latest support in the 6000$ level is at 6120$, once broken 5900$ and 5850$ will be targets. The good news is, BTC is making solid bottoms as it corrected over 50% & 60% since last January. The bad news is, if Tether investigations by the governments turns out bad, expect more blood. But here’s another scenario on @bearwhalers page (Read more there).
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The US Congress has proposed a bill which, if passed and signed in law, would launch a study of crypto usage in the area of sex and drugs trafficking, President of the German financial regulatory agency BaFin said that crypto regulation will focus on systemic risks, not individual investors. Japan’s police are reportedly investigating a case of illegal crypto mining with Coinhive, defendants argue it was a method of traffic monetization, The Financial Action Task Force will reportedly develop new binding rules for crypto exchanges.