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Bitcoin (BTC): Here’s What Is Really Going On

Bitcoin (BTC) invalided two descending triangle in the past seven days, one after another to test the 38.2% fib retracement level twice. Both of these times, the descending triangles were far too obvious and a lot of people talked about it on Crypto Twitter and other forums. It is not really about the setup; it is about what traders are thinking when a setup presents itself. It all comes down to whether they are comfortable or not comfortable playing that setup. If we look at the current 4H chart for BTC/USD, we can spot an even larger descending triangle but...

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Bakkt Gaining More Traction As Bitcoin Surges

Even though Bakkt had a rough start a few weeks ago, the ICE-baked Bitcoin futures platform has traded 224 Bitcoin in just one day. That would be worth $1.9 mln at current prices. Bakkt was heavily anticipated by the industry but on the day of its launch, the leading cryptocurrency crashed, leaving many surprised.  Contracts traded so far today: 224 BTCLast traded price: $8,582.50 — Bakkt Volume Bot (@BakktBot) October 10, 2019 Such excitement surrounding Bakkt but it quickly dissipated when the exchange started recording more than underwhelming numbers. It didn’t take long for Bakkt to be classed as a...

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Bitwise Bitcoin ETF Denied By SEC

Announced earlier today, the United States Securities and Exchange Commission (SEC) revealed that they have denied the latest Bitcoin exchange-traded fund (ETF) hopeful from Bitwise Asset Management. The proposal was filed by the crypto services firm in collaboration with NYSE Arca, reportedly “has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section 6(b)(5), and, in particular, the requirement that the rules of a national securities exchange be ‘designed to prevent fraudulent and manipulative acts and practices.'” The SEC Chairman recently expressed...

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Twitter Bitcoin Tipping Service Tippin.me Launches on Android, iOS Coming “soon”

Mobile phone users can now smile as Twitter’s service for Bitcoin (BTC) micropayments tippin.me is now available on mobile devices. The alpha version of the service will be tested this week for Android devices while alpha testing for iOS devices is underway, a report says. The service which will launch as an app will have a mobile Lightning Network-enabled wallet that will allow users to send tips in Bitcoin on the lightning network. A major push Lightning adoption Lightning network is a layer 2 solution intended to reduce the scalability issues with Bitcoin on-chain transactions. It allows users to carry...

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Venezuela Installs its First Bitcoin ATM - What about US Sanctions?

The biggest department store in Venezuela has just installed a Bitcoin ATM… This might not seem like a big deal due to there being more than 4,000 installed across the United States but for South America, this is a rare commodity.  The installation of this BATM though is a joint effort from the Traki store chain’s blockchain arm, CriptoTraki and local crypto exchange, Twenty which is allowing citizens of the nation to buy bitcoin through the US dollar. A local news source said that Traki is running a one-way pilot test, where people would be able to buy bitcoin but...

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