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Bitcoin (BTC) All Set To Decline To $9,100 From Here

Bitcoin (BTC) is all set to decline to a four digit price. The probability of it rallying towards $11,000 is slim at this point as it seems determined to decline below the key 61.8% fib extension level. The 61.8% fib extension level was previous a support but now it has been tested as resistance and the price has faced a rejection there. It is important to note that not only is BTC/USD likely to decline towards the bottom of the descending triangle but it is expected to break below it during this upcoming move. This would see the price find...

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Why Cameron Winklevoss Thinks Bitcoin Is going To Disrupt Gold

The co-founder of the Gemini crypto platform and one-half of the Winklevoss twins, Cameron Winklevoss believes that bitcoin could disrupt gold, a safe haven asset with a market cap of more than $8 trillion.  In comparison, as of 21st August Bitcoin has a market cap of $180 billion, about 2.25 percent of golds. Cameron said: “Bitcoin is going to disrupt gold, but it will also disrupt any volatile emerging market that doesn’t put the welfare of its citizens first and foremost.” High Profile Investors There have been a fair few billionaire investors that have expressed their optimism towards the long-term...

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Has Bitcoin (BTC) Begun Its Downtrend?

Bitcoin (BTC) has declined way below the 21 day EMA as well as the 50 day EMA. This has now paved the way for further downside in the days ahead. The price has found temporary support at the 61.8% fib extension level but it is a long way from declining further. If we look at the price action in the recent past, we can see that similar declines have happened before. The price did end up declining more than 23% in one day recently and if something like that were to happen again, BTC/USD would decline towards the bottom of...

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Sally Ho's Technical Analysis 21 August 2019

Bitcoin Bitcoin (BTC/USD) continued to gain ground above the psychologically-important 10,000 figure early in today’s Asian session as traders continued to advance towards the 11,000 figure.  Short-term bias has firmed in the favour of BTC/USD Bulls over the past several days ever since the pair bounced higher from the 9,470.23 level on 15 August, representing the 50% retracement of the move from 5,072.01 to 13,868.44.  Bids then firmed up market sentiment around the 9,765, 9,938, 10,268, and 10,646 levels, leading to price appreciation. Traders have been attempting to establish a foothold above the 50-bar MA (4-hourly) for several sessions, and...

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Could The New Hash Rate High Boost BTC Price?

Another record has been broken by the Bitcoin hash rate and has even hit a new all-time high.  According to data from monitoring resource blockchian.com on August 19th, the top coin’s hash rate has continued to break previous records throughout summer and today hit a mindblowing 82.5 TH/s. In a tweet posted earlier this month, the host and popular bitcoin investor, Max Keiser reiterated his outlook for BTC’s future, saying:  “Price follows hashrate and hashrate chart continues its 9 yr bull market.” The argument goes that the higher the hash rate of bitcoin, the network is to be more secure,...

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