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Sally Ho's Technical Analysis 23 May 2019

Bitcoin Bitcoin (BTC/USD) depreciated sharply early in today’s Asian session, trading as low as the 7506.12 level following selling pressure that commenced during yesterday’s European session and continued through yesterday’s North American session. Today’s intraday low is just above the 50% retracement of the move from 8388.00 to 6600.00. Stops were elected below the 50-bar MA (4-hourly) at 7793.43 during the move lower, with additional Stops reached below the 7605.43 area during the descent, representing the 23.6% retracement of the 5072.01 – 8388.00 range. Given the pullback, traders are evaluating areas of possible technical Support on the downside. Below the...

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Craig Wright Copyrights Bitcoin Whitepaper

The self-proclaimed Satoshi Nakamoto, Craig Wright has filed copyright registrations for the Bitcoin whitepaper and the original Bitcoin code with the US Copyright Office. The office has seen Wright as an author, making it the first government agency to do so. Wright = Satoshi? The crypto industry, like most industries, isn’t one that can escape controversy and Craig Wright is no exception. Wright saw his claims to the crypto throne (not the iron throne though) culminate this week after he was granted copyright claims to the original Bitcoin whitepaper and software code. According to the official website of the US...

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Bitcoin (BTC) Goes Down As Gold Moves Up Amid Fears of Prolonged Trade War

Bitcoin (BTC) has had an inverse correlation with Gold for the most part but in the past few weeks we saw different. BTC/USD profited off a rally in Gold and it was made to appear that trade war concerns with China is pushing the Chinese to buy Bitcoin (BTC). A lot of people bought that narrative which was nothing more than orchestrated ploy to prop up the price of Bitcoin (BTC) short term and provide an alibi for the naked manipulated that saw a lot of retail bears end up as cannon fodder. Gold has begun its climb and is...

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Huobi Global Celebrates BTC Pizza Day with PrimeBTC Trading

In 2010, Laszlo Hanyecz made history when he managed to exchange ten thousand Bitcoins with another early Bitcoin enthusiast for two pizzas. At the time, Bitcoin was $0.003 and those pizzas cost him around $30. Looking at today’s prices though, those Bitcoins would be worth a hell of a lot more, close the $70 million. Since that day in 2010, it has become a bit of a tradition in the crypto community. It’s actually nine years to the day that the exchange happened and so to honour the tradition, Huobi Global is setting up a range of initiatives. This includes...

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BTC Developer: “Cryptocurrency Diversification Makes Little Sense”

The prominent Bitcoin developer Jimmy Song has made the argument in recent Medium post, that it doesn’t make a lot of sense for diversifying a crypto asset portfolio. Song is a big believer that including altcoins to an investment portfolio allocated a certain percentage to Bitcoin will not improve the chances of receiving a higher return on invested capital. Investment portfolios Song goes onto explain that investors will typically diversify their investments in order to statistically reduce the risk of permanent loss and reduce the negative effects of volatility. Even though he acknowledging that asset diversification “makes sense” for more...

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