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Major Financial Markets Hint At Promising Outlook For Bitcoin (BTC)

Bitcoin (BTC) is trading sideways once again as price prepares to make its next big move. The reason we are seeing this sideways consolidation is because major movements on BTC/USD often coincide with movements on major financial markets. For instance, the sharp decline of December, 2018 in BTC/USD had a lot more to do with the decline in S&P 500 (SPX) than Bitcoin (BTC) itself. The cryptocurrency market is still in its infancy and thus has to look up to major financial markets for direction. The stock market is going to play a pivotal role in the next financial crisis....

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Proof That BTC ETF Is Just Around The Corner

One of the SEC commissioners has said that the Bitcoin ETF will finally be getting approved in a recently leaked interview with Congressional Quarterly Inc. Before today, the general consensus was whether or not the Securities and Exchange Commission would adopt the Bitcoin ETF, but now that has changed as it is now a matter of when they will adopt it. Congressional Quarterly, sometimes known as CQ, is part of a privately owned publishing company called CQ Roll which produces several publications reported primarily on the United States Congress. The draft copies of the interview were shared of social media...

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CZ Doesn’t Believe Bitcoin ETF Is Core For Cryptocurrencies Growth

Earlier today, the CEO of Binance, Changpeng Zhao (CZ) held his first live Q&A stream through Periscope. There were several questions prepared for CZ by his team before the stream went live. The whole Q&A stream went on for just over 45 minutes in which he discusses the Binance Chain and exchange, the future of Ripple, decentralisation and the Bitcoin ETF. Binance Chain The first question that CZ was asked was in regards to the number of validator nodes that the Binance Chain be able to run. To this, the CEO responded: "I think for the testnet, we elect to...

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Peter Todd Explains Why MimbleWimble Should Not Be Implemented As A Bitcoin Sidechain

During the Bitcoin developer panel at the recent Unconfidscatable Conference in Las Vegas, the topic of MimbleWimble was discussed. With the recent launches of the MimbleWimble-based Grin and Beam altcoins, the privacy and scalability-focused technology has been a hot topic of conversation throughout the cryptocurrency ecosystem. Applied cryptography consultant Peter Todd is known to throw water on blockchain-related ideas when they start to gain a bit too much hype around them, and he made the case that MimbleWimble is overrated during the recent panel discussion. Additionally, Todd provided his reasoning for why the technology should not be implemented as a...

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Bitcoin (BTC) Breaks Below Trend Line Support, Faces Strong Rejection At Retest

Bitcoin (BTC) has broken below a critical trend line support that held for a long time after the December, 2018 crash. This appeared to be an act of manipulation and the bulls were secretly hoping that the price would get back above the trend line but none of that happened. In fact, the price kept trending the trend line support which has now turned into a strong resistance. The last attempt to test this trend line failed miserably and BTC/USD faced a strong rejection which led to a selling spree that pulled the price down to $3,338. It soon recovered...

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