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Bulgarian Govt Sitting on $1.7 Billion Worth of Bitcoin

Two years ago, in May 2017, the Bulgarian government conducted a raid on illegal Bitcoin activities and seized more than 200,000 Bitcoins that are now worth around $1.7 billion. As they are now in possession of such a large sum of Bitcoin, the nation is sitting on a huge sum of money that puts them on the path to take over the UKs gold reserves. A press release at the time said: “Members of this organized criminal group invested money from illegal activities into Bitcoin, and the authorities discovered about 200,000 bitcoins. The authorities have searched more than 100 addresses,...

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Sally Ho's Technical Analysis 24 May 2019

Bitcoin Bitcoin (BTC/USD) extended gains early in today’s Asian session as traders pushed the pair to the 7984.90 area before some profit-taking emerged just below a retracement level that represents the 61.8% retracement of the move from 8315.00 to 7407.10. Buying activity started in earnest during yesterday’s European session when Bids emerged around the 7467.10 area, just above the 50% retracement of the move from 6600.00 to 8315.00. Stops were then elected above the 50-bar MA (4-hourly), then around 7770.80 and the 50-bar MA (4-hourly) then became supportive late in yesterday’s North American session. Traders are looking to see if...

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Bitcoin (BTC): The Best Time To Sell Was At $20,000, The Second Best Time Is Now

The best time to sell Bitcoin (BTC) was when it was trading close to $20,000 but the second best time to sell Bitcoin (BTC) is now. In this analysis we will explain why this is the perfect time to be selling Bitcoin (BTC) and not buying it. Let us first look at the weekly chart for BTC/USD. Since the creation of Bitcoin (BTC) and throughout its trading history, we have seen strong similarities between various market cycles. History may not have repeated itself but it has rhymed and very closely. One thing to observe here is that market cycles have...

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Bitcoin ATMs Continue Growth Across US with Coinme Kiosks

The Bitcoin ATM operator Coinme has expanded its Bitcoin purchasing options for residents in the United States to cover 21 states, the firm confirmed in a press release this week. Coinme first started selling Bitcoin in 2014, and will now serve around 2,200 locations across the nation through its existing partnership with coin kiosk operator Coinstar. It was in January this year that Coinstar first began selling Bitcoin for USD, so far restricting the feature to the US market. Neil Bergquist, Coinme co-founder and CEO, commented in the press release: “Bitcoin and other digital currencies offer unique benefits to consumers...

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Crypto Correction Sends Markets Bleeding red - $12 billion lost

A massive move during trading in Asia meant that Bitcoin has pulled back from the $8,000 mark and the rest of the market has followed without question. Over the past 12 or so hours, the total crypto market capitalisation has been crushed by almost 5 percent as it lost $12 billion. The altcoins and leading cryptocurrency are still bleeding at the time of writing losing all the progress they have made over the past few weeks. It seems the correction is fully underway. Losing Bitcoin Bitcoin has once again failed to break resistance over $8k for the third time in...

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