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Bitcoin Indicator Suggests A Surge Is Around The Corner

The recent rally by Bitcoin could be a bullish sign for the future.  At the time of writing, the flagship cryptocurrency is now trading above its upper Vera band limit according to a new analysis from Bloomberg. The indicator shows upward and downward trends as well as suggesting that a breakout could be on the table for the near future. That being said, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe! The Bloomberg report: “Bitcoin’s followed a...

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IRS Cracking Down On Bitcoin Taxes

The IRS is going into full stalker mode as it plans to issue subpoenas, search through social media posts as well as interviewing families to ensure that people are paying taxes on their Bitcoin. Some of the top companies in the world will be subject to some of these investigations such as Google, Microsoft and Apple. In a slideshow presentation with more than 180 slides, the IRS’ cyber crimes program manager, James Daniel explained the usage, ecosystem and technology behind some of the biggest cryptocurrencies such as Bitcoin, XRP and Ethereum. Special agents for the IRS have been advised to...

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Litecoin (LTC) Price Action Hints At Further Downside For Bitcoin (BTC)

Bitcoin (BTC) started the day in green and kept on surging while Litecoin (LTC) continued to decline. This is because LTC/USD closed below the 21 Day EMA yesterday which was a bearish close that was indicative of further downside in the near future. Litecoin (LTC) started the day in red and has continued to decline. It might find temporary support on the 50 Day EMA but sooner or later we expect it to break below the descending triangle to begin its downtrend. This might lead to the price falling to new lows for the year eventually but before that happens,...

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Financial Expert On Bitcoin: “The Cons, Outweigh The Pros”

According to a new report published on micky.com, the award-winning journalist and financial expert Peter Switzer believes that Bitcoin and the rest of the market are far too volatile to be useful. The founder of Switzer Financial Group advised governments to either ban or strongly regulate cryptocurrency. In the post, Switzer was quoted saying that Bitcoin didn’t have any real advantage over legacy payment avenues fueled by fiat currencies. “I can’t see the necessity of a currency that’s too volatile and is primarily used for speculative purposes. I wonder whether we need a new way for inexperienced investors to lose...

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Bitcoin (BTC)’s Parabolic Advance Seems To Have Come To An End

Bitcoin (BTC)’s parabolic advance seems to have come to a halt all of a sudden after a strong rally past our $12,500 target. However, on closer observation, we can analyze why this might have happened and what it entails. Before we delve into that, let us first take a look at the monthly chart for EUR/USD. We can see right away that the pair is in a strong downtrend. It has been in this downtrend since the global financial crisis of 2008-09. Over the years, government and businesses have gotten used to this model and it is unlikely to be...

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