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How to Benefit from Bitcoin Halving: Viewing from The Oil Market after The Cutting of Oil Output

The global oil market in 2020 certainly is in a rocky position. On April 12, OPEC and allies agreed to a record deal to cut oil output. A few days later, on the night of April 20, the May futures of West Texas Intermediate, the key U.S. oil benchmark, experienced a historical collapse. In just 90 minutes, to the shock of the world, the oil prices plunged from $10 to $1. Half an hour before closing, the price crashed into negative territory and even fell to negative $40 a barrel, a 300% decline. The oil prices settled at negative $37.63...

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Could the oil price make bitcoin mining a more lucrative investment?

Earlier this month on the 20th of April, the United States oil futures contracts for May delivery slipped due to storage problems.  The price of oil quickly fell below zero and what followed was a significant round of FUD in the market as well as other commodities. Earlier this month on the 20th of April, the United States oil futures contracts for May delivery slipped due to storage problems. The price of oil quickly fell below zero and what followed was a significant round of FUD in the market as well as other commodities. When it comes to bitcoin, the...

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The Bitcoin Road to $7,500

Yes, it finally happened. 2 months after the biggest drop in 7 years, Bitcoin recovers and reaches the 7,500 mark again on Friday, April 24.  This financial crisis has challenged many of the preconceptions about the market behavior of Bitcoin and there are plenty of macro factors that can be associated with the increasing price. However, market datasets offer a more technical glimpse into factors that might influence short term movements in the price of Bitcoin.  For today, let’s focus our analysis on five simple metrics that can be easily understood by any crypto enthusiast to explain the recent behavior...

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BTC/USD Bears Eyeing Bids at 7626.95: Sally Ho's Technical Analysis 28 April 2020 BTC

Bitcoin (BTC/USD) continued to drift lower early in today’s Asian session as the pair was unable to sustain a move to the 7810.99 level during yesterday’s Asian session and came off to the 7635.69 level during yesterday’s North American session.  Stops were elected below the 7650.17 level during the depreciation in yesterday’s North American session, a level that represents the 38.2% retracement of the appreciation from 7390.00 to 7810.99.  Some clues emerged during yesterday’s European and North American sessions regarding the short-term direction of BTC/USD when the pair encountered selling pressure around the 7735.24 level, representing the 23.6% retracement of...

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Bitcoin Traders Scared Of Halving?!

It seems that a large number of retail traders are actually scared of being long on the market fearing that halving could turn out to be a major bull trap. It is interesting how narrative building works in this market. Traders just crave for a popular opinion in this market whether bullish or bearish and then they follow it absolutely. So, if it is a bullish theory, they think BTC/USD will fly to the moon. If it is a bearish theory, they think it is going to crash into the ground. This is the kind of approach that leads to...

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