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Bitcoin Begins Long Overdue Correction 

Bitcoin has finally begun the downtrend as we had earlier anticipated. This is now in line with our expectations and indicates that both cryptocurrencies and stocks could correct near-term before the next bullish advance. The reason I expect another bullish advance is because both markets have room for further upside and might not top out just yet.  In the case of the S&P 500 (SPX), we could see a move towards the previous resistance turned support. There, it could find support to rally further but it is important to realize that neither stocks nor cryptocurrencies have much room to rally...

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National advertisements campaign launched by Grayscale in order to further mainstream adoption for bitcoin

A national advertising campaign has just been launched by Grayscale in order to bring Cryptocurrency to the masses.  To start off, the advertisement started with a TV ad on CNBC, MSNBC and FOX. A national advertising campaign has just been launched by Grayscale in order to bring Cryptocurrency to the masses. To start off, the advertisement started with a TV ad on CNBC, MSNBC and FOX. Brrr, by @Grayscale https://t.co/ALOtGhex9B — Barry Silbert (@barrysilbert) August 10, 2020 Barry Silbert announced the campaign at the end of last week with the national advertisement pushing for more awareness on crypto assets such...

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“The wall street bubble”: A case for bitcoin (PART 1)

In 2008 when Satoshi went public with bitcoin and the idea of blockchain technology, the invention received very little attention. In the past decade, the financial world was daunted by this new asset class and possibly the future of digital currency. Today there are more than 6,000 cryptocurrencies, according to Coinmarketcap. Slowly, but steadily cryptocurrencies are establishing themselves in the scenes of commerce and industries. However, bitcoin and other cryptocurrencies have often received tons of criticisms from investors, individuals, governments, and other agencies. Very often, cryptocurrency has been described as a bubble waiting to burst. In the first part of...

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BTC/USD Within Striking Distance of Fresh 2020 High: Sally Ho's Technical Analysis 11 August 2020 BTC

Bitcoin (BTC/USD) sought to extend recent gains early in today’s Asian session as traders remained eager to push the pair back above the 12000 figure after the pair climbed to the 12086.22 area during yesterday’s Asian session.  Recently, the pair traded as high as the 12134.29 area, so traders are curious to see if upward momentum will result in a new relative recent high being established.  BTC/USD came off to the 11470.01 area during yesterday’s European session and found some bids around the 11717.44 area, just above the 23.6% retracement of a historical appreciation from 4680.65 to 13878.40.  Some selling pressure then...

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Bitcoin Braces For A Sharp Retracement 

Bitcoin has finally seen a retest of $12k again and it has now faced a sharp rejection there. Meanwhile, the S&P 500 (SPX) also seems primed for a correction near-term. News of Coronavirus cases rising again in certain regions could serve as a trigger for the next retracement. I do however expect further upside after this retracement in both cryptocurrencies and stocks.  That being said, I think both markets have seen overextended rallies are due for much bigger corrections long-term. In the case of BTC/USD, it might end up following the S&P 500 (SPX) again as it did in March...

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