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Bitcoin Mining Difficulty Continues To Sink

New reports out today highlight that the difficulty of mining blocks on the Bitcoin network has sunk by more than 7% as a result of recent market movements. Overall, difficulty is still high in the grand scheme of things, but I guess this does suggest that one day, the profitability of mining on the Bitcoin blockchain might eventually improve. The markets continue to move in a positive direction through the end of this week in what looks to be the first cryptocurrency market surge that we have seen for a number of months. At the time of writing, Bitcoin is...

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EUR/USD Future Outlook Points To A Short Term Pullback For Bitcoin (BTC)

The long term outlook for EUR/USD and Bitcoin (BTC) is the same. If the Euro goes up, Bitcoin goes up and vice versa. Now, as we have seen in the past, EUR/USD gets to decide the direction of Bitcoin (BTC) especially in times when Bitcoin (BTC) traders are confused as to the future direction of the market. We saw the past few days that EUR/USD found support atop a historical trend line and began a new cycle. However, the price rallied quite aggressively which means we should expect a short term retracement before the rally can resume. The daily chart...

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Bitcoin Is More Popular Than Gold

After the Bank of England sent out a poll on Twitter asking what they would most prefer for Christmas this year, about 70 percent of people said that they would prefer to receive digital currency as a gift over the three other options which were, cash, bank transfer or a gift voucher. If you receive money as a gift at Christmas, what’s your favourite way to get it? How will we use money in years to come? Join the #FutureForumBoE discussion at https://t.co/EKRXyJZp9d — Bank of England (@bankofengland) December 17, 2018 There have been just under 8,500 Twitter users who...

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Bitcoin (BTC) Runs Into Trend Line Resistance, Sharp Pullback Expected By Weekend

Bitcoin (BTC) has run into a historical trend line resistance after an exuberant rally past the 21 Day EMA. This is likely to result in a sharp pullback back to the 21 Day EMA over the weekend. If the price holds that level, we can expect a head and shoulders pattern to complete and the next few weeks will see the price rising towards $6,000 or higher. However, if the price fails to defend the 21 Day EMA, we will see a retest of the yearly low or even a most anticipated fall towards $3,000. RSI for BTC/USD has now...

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Is Bitcoin’s Dark Secret Holding It Back

Cryptocurrency adoption is likely to start with the mainstream adoption of Bitcoin, simply because Bitcoin is notorious as the most known, the most valuable and the most popular cryptocurrency by market cap. Of course, this market cap could shrink over time and perhaps another crypto will lead the race one day, even so though as it stands, the reign of Bitcoin is still very strong, therefore Bitcoin is the most likely cryptocurrency to lead a race for full mainstream cryptocurrency adoption. Why hasn’t Bitcoin been adopted yet? There are a number of things that currently stop Bitcoin adoption and we...

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