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Why Bitcoin (BTC) Can’t Fall Below $5,800

Bitcoin (BTC) cannot fall below $5,800. There, I said it. It might not be possible to say what price Bitcoin (BTC) might reach by the end of the year. That is because one will have to speculate. However, to see if Bitcoin (BTC) can fall below a certain level, there is no need for speculation. We have plenty of historical data to base our analysis on. There are two straightforward charts that form the basis of this analysis. The first chart is the above weekly chart for BTC/USD. The two lines drawn on the chart form part of the hypothesis...

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Bitcoin Scam Results In A €31 Million Loss

One of the leading countries in the world, famous for the finest wines and cheeses, home of the Eiffel Tower, la France, has been in the news recently but not for the right reasons. The country hasn’t made a stance on where it’s at with cryptocurrency but some of its citizens have been victims of a recent Bitcoin scam according to a recent news report. Around 700 citizens of France have fallen victim to a recent Bitcoin scam which has resulted in a loss of around €31 million. According to the stock market regulators of France, Autorité des marchés Financiers,...

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Is Soujia Boy A Fan Of Bitcoin?

“I made 100 racks off of Bitcoin” Another reference for Bitcoin entering the pop culture world. Soulja Boy’s latest album, Young Drako, which dropped on 4th October has 14 fresh tracks from the rapper including one titled, ‘Bitcoin’. In the tune, Soulja Boy - real name, DeAndre Cortez Way - brags about how much he has made form the cryptocurrency. The song opens with the chorus which asserts that Soulja Boy has made 100 racks of Bitcoin. For those of you who don’t know, a rack is equal to $1,000 which means that Soulja Boy is claiming to have realised...

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Crypto Expert Says Bitcoin Is Ready To Surge

Last Friday, a partner at the crypto focused venture capital firm, Blockchain Capital has claimed that he believes Bitcoin price is about to surge after it soon finds it’s ‘bottom’. This year, the crypto market has seen some massives changes, highs and lows all over the board but last week the markets seemed to be generally positive. On Wednesday, TD Ameritrade announced their investment in an exchange called ErisX in order to let consumers invest in digital currencies on a regulated platform. And on Thursday, cryptocurrency index fund leader, Bitwise Asset Management revealed an investment from longtime financial advisor of...

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Bitcoin (BTC) And Reversal Of The Commodities Market

Bitcoin (BTC) is a commodity. A quick glance at the S&P Commodity Index vs. S&P 500 tells us that commodities have been in a downtrend since Bitcoin (BTC)’s inception (Aug 2008). Despite that, Bitcoin (BTC) rallied 596,666,566% from a price of $0.003 in March 2010 to $17,900 in December 2017. This was a major achievement considering the trend was against Bitcoin (BTC) between 2010 and 2017. Equities rallied after the financial crisis whereas commodities other than Bitcoin (BTC) entered a bear market. Gold hit its all time high of $1900 in 2011 and soon entered a bear market. Oil had...

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