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Bitcoin Classed As Legal In China As A Virtual Property

We’ve known for a while now that China isn’t a big fan of cryptocurrencies and that has taken several measures to kill of the leading cryptocurrency, Bitcoin.  Some of these measures include a blanket ban on all digital assets, ICOs and shuttering crypto exchanges all in the name of banning virtual currency. But according to the latest order by Hangzhou Internet Court suggests that owning Bitcoin is not actually breaking the law as China has given the leading cryptocurrency the status of a ‘virtual property’. WOW 😲 BITCOIN IS LEGALLY PROTECTED IN CHINA Today the first property dispute case on...

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Has Bitcoin (BTC) Lost The Strength To Go Up?

Bitcoin (BTC) has closed the day below the 21 Day EMA but we wanted to wait for further clarity to have a better idea of what is going to unfold here. The price has faced a clear rejection at the 38.2% fib retracement level from the local top. As long as the price remains below this level, there is no hope of any sustained move to the upside. If BTC/USD falls from here, the decline is likely to be very sharp and we will see it come down to $7,200 or lower levels before it can find temporary relief. There...

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Sally Ho's Technical Analysis 22 July 2019

Bitcoin Bitcoin (BTC/USD) erased some of yesterday’s steady losses early in today’s Asian session as the pair climbed to the 10,654.94 area, right around the 23.6% retracement of the move from 13,868.44 to 9,651.00.  The next upside levels related to that range include 11,262.06 and 11,759.72. During yesterday’s Asian session, the pair tested the 11,091.90 level but was then unable to move above the 100-bar MA (4-hourly). The pair then moved lower during yesterday’s European and North American sessions before finding an early Bid today. BTC/USD briefly traded below the 50-bar MA (4-hourly) during yesterday’s North American session before moving...

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What Have US Government Officials & Entrepreneurs Been Saying About Bitcoin & Libra this Week?

Bitcoin has been a hot topic recently after the US President took to his playground known as Twitter, to say that he isn’t a big fan of the leading cryptocurrency. Since then, crypto has jumped back into the spotlight, especially in the United States as it now up to be an official issue for the 2020 elections.  In addition to this, the US Senate has held two different hearings with Facebook’s David Marcus in regards to the upcoming Facebook stablecoin, Libra. Because of the rough history of Facebook in terms of privacy and trust have been raised among top government...

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Sally Ho's Technical Analysis 21 July 2019

Bitcoin Bitcoin (BTC/USD) gained ground early in today’s Asian session as traders lifted the pair to the 11,042.00 area following steady demand that resumed during yesterday’s Asian session. Stops were elected above the 10,958.60 area during the pair’s ascent late during yesterday’s North American session, a level that represents the 50% retracement of the 8,048.75 – 13,868.44 range. The next upside levels related to this range include the 11,645.32 and 12,494.99 areas. The pair tested the 50-bar MA (4-hourly) during yesterday’s European session and then moved above the area during the push to multi-session highs. BTC/USD is now trading just...

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