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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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Solicitation Notice Issued By SEC, Is BTC ETF On The Horizon?

With institutional finances getting prepared to heave into the market and save the fading digital asset class of crypto, the United States Securities and Exchange Commission will clearly be looking for accountability and a “manipulation free sphere”, which will level the ground for all investors. The chairman of the SEC, Jay Clayton has spoken about the lack of surveillance and pure and simple fraud at the CoinDesk Consensus Invest Conference as well as why he isn’t prepared for the Bitcoin ETF to happen: “It’s an issue (manipulation) that needs to be addressed before I would be comfortable. We’ve seen some...

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Dollar Index (DXY) Hints Bitcoin (BTC) Will Soon Make Its Next Big Move

The Dollar Index (DXY) is a strong indicator of the strength or weakness of the US Dollar compared to other major currencies. As the price of Bitcoin (BTC) is predominantly paired to the US Dollar on most exchanges, it is reasonable to see that movements in the Dollar Index (DXY) have important consequences for the price of Bitcoin (BTC). The daily chart for the Dollar Index (DXY) shows that the price is trading within a rising wedge and is thus at risk of significant sell off in the weeks or months ahead. However, short term there is a lot of...

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Bitcoin’s Lightning Torch Is Gaining International Exposure

Despite the cryptocurrency space taking a ‘few’ hard hits over the course of the last year, the community is still holding on strong waiting for something to happen. Bitcoin has taken over an 80 percent drop from its all-time high of $20,000 in 2017 which has seen some enthusiasts leave the flock but in the end, the community is enduring the bear market in the hope that the bulls will soon take over. Currently, though, the community is immersed in an experiment called the Lightning Torch. The idea behind it is to show the value of the upcoming technology, the...

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Could Bitcoin Destabilise India's Rupee

Cryptocurrencies like Bitcoin are not just risky to the individuals that invest in them, in some ways they do post great risk to agencies and groups outside of the investor space, such groups include governments and central currency providers, such as central banks for example. Of course, we know as a part of the cryptocurrency community that these risks are far outweighed by the benefits of cryptocurrency, though sadly many central agencies haven’t work this bit out just yet. A new article by Quartz India discusses how the Indian government believe that Bitcoin could eventually destabilize the Rupee, India’s own...

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