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Bitcoin (BTC) Falls While Stocks Rally Again

Bitcoin crashed below a key support yesterday but there was no follow through. So, the price ended up climbing back above the support and flipped bullish. Even though it is now showing signs of strength, there is a good chance that it is all temporary and we might be headed lower after a near term retest of the trend line support turned resistance. In the most optimistic scenario, we could expect a rally towards $9.5k now that the S&P 500 (SPX) has also started the day in green and has shot past the psychological resistance of 3,000. It is important...

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U.S. – China Tensions Increased – Will it Boost Bitcoin?

Increased tensions between President Trump and China over the coronavirus pandemic are threatening to complicate a recovery from the worst global economic downturn in decades.  Amid the coronavirus, the countries’relationship has hung over the market - In the past several months, US politicians proposed to delist Chinese companies from US stock exchanges with different criteria, and cap Americans’ exposure to the Chinese market. On Friday, China is once again attempting to assert authority over Hong Kong, sparking another bout of protests from concerned HK citizens. This seems to signal that previously easing tensions between the US and China will begin growing again, potentially...

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The whales start moving again amid price dip

The bitcoin halving event occurred on the 11th of May earlier this month to a lacklustre response.  Many people within the crypto space were highly anticipating the event to do great things for the leading cryptocurrency as well as the industry as a whole.  The bitcoin halving event occurred on the 11th of May earlier this month to a lacklustre response. Many people within the crypto space were highly anticipating the event to do great things for the leading cryptocurrency as well as the industry as a whole. The third having saw the black rewards drop from 12.5 BTC  to...

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As Libra and CBDCs fight for the top spot, could bitcoin be the Darkhorse?

Around this time last year, Facebook announced its Libra token with financial inclusion as its main goal. As it was announced, many central banks all over the world were all of a sudden concerned about what the social network would do with this stablecoin in mind. Around this time last year, Facebook announced its Libra token with financial inclusion as its main goal. As it was announced and explained, many central banks all over the world were all of a sudden concerned about what the social network would do with this stablecoin in mind. The token was talked about incessantly...

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Is Africa bitcoin’s Safe Haven?

During COVID-19, government-backed Fiat seems to be failing as more citizens turn towards crypto and blockchain.  Looking at countries such as France we can see recently legalised crypto trading which only legitimises the aforementioned argument. During the consistent uncertainty brought about by COVID-19 impact on every corner of the world, government-backed Fiat currencies seem to be failing people as more and more citizens turn towards cryptocurrency and blockchain. Looking at countries such as France, India, South Korea, and Germany we can see recently legalised crypto trading which only legitimises the aforementioned argument. Going on data from the well-known analytics site,...

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