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Bitcoin (BTC) Correction May Still Not Be Over As Bulls Fail To Gain Control

Bitcoin (BTC) correction may still not be over as bulls have failed to gain control. The price has been on a brutal decline for the past few days but there are still no signs of a recovery as we have seen a strong rejection at the 200 EMA on retest. The daily chart for BTC/USD shows that the price has broken a smaller descending triangle but now it is on the verge of breaking a larger descending triangle. That being said, I don’t expect it to happen when everyone is expecting it. Yesterday’s close below the 200 day EMA was...

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African Interest in Bitcoin Peaks!

According to recent data, Africa is growing in the interest of Bitcoin. In the nations of South Africa and Nigeria currently, lead in terms of Google searches in relation to the leading cryptocurrency. Despite experiencing a significant loss in value these few weeks, this news comes from data through Binance Research, the crypto market analysis branch of the crypto platform. The department published a video of statistics showing the interest of bitcoin country by country. “Visualized changes in heat ranking of “Bitcoin” #BTC in Google search by each Country/Region from Jan 2011 to today.  Noticeably, relative search trends of "Bitcoin"...

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Is Bitcoin Starting to Mature Despite Recent Crash?

Bitcoin is typically the talk of the town however, this week it's more than usual… Being in the spotlight for the past week or so has been primarily down to two main developments occurring in the crypto space. The first being the launch of the Bakkt platform which was highly anticipated but after all the hype, was ultimately disappointing. Secondly, Bitcoin let many people down again as it broke down from a descending triangle after months of consolidation, making calls for a bearish dump to $4k or perhaps even lower.  The well-known bitcoin bear and naysayer, Peter Schiff said: “#Bitcoin...

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Morgan Creek Capital CEO on Bitcoin: “Buy it”

The CEO of Morgan Creek Capital, Mark Yusko recently took part in an interview for CNBC with Melissa Lee who questioned him on the recent crash experienced by Bitcoin, in where it lost 15 percent of its value.  “Buy it.” According to him, Bitcoin would still a great buying opportunity even if its price dropped to lows of say $5k. The CEO and hedge fund manager explained that investors should not get distracted with daily price moves. “The daily price of Bitcoin doesn’t matter. It’s been alive for ten years. In every year (other than one – 2015), it made...

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Sally Ho's Technical Analysis 27 September 2019

Bitcoin Bitcoin (BTC/USD) experienced ongoing weakness early in today’s Asian session as the pair remained on the defensive after trading as low as the 7712.45 level during yesterday’s North American session following its recent abrupt decline below the psychologically-important 10000 figure this week.  The pair’s market bias shifted decisively when BTC/USD Bears dominantly knocked the pair lower to its weakest levels since June of this year, trading as low as the 8159.35 area, before late-week selling added more pressure.  The strength of the Bears was evident when they triggered a huge amount of Stops below key levels, including the 9009.65...

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