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Bitcoin Price Under Pressure Due To ‘Death Cross’ Concerns

Bitcoin price plummeted sharply today after trading in the narrow range of $8,000 level on Wednesday. The latest selloff isn’t due to ads bans, regulators clampdown or warnings; the downtrend was purely supported by traders concerns over the technical factors on price charts – market participants are predicting a massive crash in BTC price in the days to come, driven by a Death Cross trend. Bitcoin price declined more than 7% today, down 15% in the last seven days. TV analyst Abigail Doolittle said, ‘the “death cross” trading data for bitcoin, suggests that we could see bitcoin go all the way back below $1,000 per bitcoin”. Source Image: bitcoincharts.com A…

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Bitcoin (BTC): Wall Street Says HODL and Abra CEO Says BOOM

There’s no denying that panic has swept through the crypto sphere as of late. With the crypto ad bans by major companies like Google, Facebook, and most recently Twitter, prices of cryptocurrencies have taken a beating as many people believe this to be the end. Have no fear, though, because this isn’t the end. Crypto will recover, and it will continue. People are still interested in the space. Just ask Wall Street or Bill Barhydt, the CEO of Abra. CNBC reported that a Wall Street analyst is for HODLing Bitcoin (BTC). Wall Street analyst Thomas Lee took a stock investing approach to Bitcoin and said that it…

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Sheena Shah Of Morgan Stanley ; Bitcoin Is The Next Dot-Com Bubble

The cryptocurrency markets are in doldrums, and rating agencies are correlating them with different bubbles and scams that global markets had faced in the last few decades. Morgan Stanley strategist Sheena Shah sees enormous resemblances between the cryptocurrency market behavior and the dot-com bubble – the only exception being the 15 times higher growth in bitcoin price. Sheena Shah has based its prediction on following assumptions: The Nasdaq and bitcoin both surged 250 to 280 percent during the peak time. Bitcoin prices plunged almost 45 to 50 percent during each bearish trend; the price movement was similar to Nasdaq’s behavior 18 years ago. The Nasdaq had five price…

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Cryptocurrencies are like Giffen Goods, Here’s Why

Analysts and market participants aren’t yet able to create the price prediction formula for cryptocurrencies; the market forces are divided on how these new assets will perform– some are calling for steady price growth, and others are seeing the price to fall to zero. Meanwhile, the idea of correlating cryptocurrencies with Giffen goods seems to be undoubtedly true. Why Are Cryptocurrencies like Giffen Goods? Giffen goods are products that people consume more when prices are higher, contrary to the demand and supply principle. Cryptocurrencies drive higher demand and interest when its price increases while the demand for digital currencies declines with the decay in prices. The demand…

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Mt.Gox Bankruptcy trustee breaks silence

On March 9, 2018, documents distributed at the tenth creditors’ meeting of the infamous exchange, Mt.Gox, went public. They revealed a series of multi-million dollar sales of Bitcoins.  According to the documents, its bankruptcy trustee, Mr. Nobuaki Kobayashi had claimed to be the author of those sales. The document with Kobayashi’s textual words read as follows: “Between the 9th creditors’ (September 27, 2017) meeting and this creditors’ meeting (On March 7, 2018), with the permission of the court, I sold a certain amount of BTC and bitcoin cash (“BCC”) that belonged to the bankruptcy estate. The quantities sold and the amount paid into the bankrupt trustee’s account are shown below.” The…

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Celebrate St. Patrick’s Day – Buy Booze With Bitcoin!

Looking for somewhere to drink on St. Patrick’s Day but all you have is Bitcoin? Look no further! Here are three places that you can use your hard earned Bitcoin to buy booze. The Pembury Tavern – London, England Located in East London, The Pembury Tavern is one of five pubs now accepting Bitcoin in jolly ol’ England. They’re all a part of the Individual Pubs Ltd. group, which include pubs scattered across the country. 2nd Place – Beijing, China This cafe bar accepts Bitcoin as payment for ordering a beer – what could beer better, am I right? Leprechaun fact: 2nd Place may very well have been China’s…

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Bitcoin Is a Stressful Investment and an Unpredictable Play

No other asset across the globe has shown more volatility than cryptocurrencies. Crypto markets are substantially responsive to market reports, and they can add or wipe billions of dollars off the board in a single day alone – forcing Bitcoin (BTC) investors to keep an eye on the price charts several times a day to see where their investments stand. “With other speculative investments, like private equity and venture capital, you can’t check your phone every five minutes,” Jim Smigiel said. With cryptocurrencies, “you’re able to track the minute-by-minute value of it.” Bitcoin price lost close to $2000 since the start of this week following reports regarding increasing…

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United Kingdom Launches Bitcoin Futures via CoinfloorEX

Despite the cryptocurrency market taking a serious beating the past few months, the U.K has just announced some big news. Coinfloor, a London-based cryptocurrency exchange, announced that it would be starting its own bitcoin futures exchanged named CoinfloorEX. This new exchange will offer bitcoin futures “at scale” through their own specific contracts and operational controls. The futures contracts are available to traders, hedge funds, and miners. CoinfloorEX claims they will offer the first “physically delivered cryptocurrency futures contracts”, designed specifically to protect investors from price slippage on positions at the time of settlement. The settlements made by CoinfloorEX will be based on physical delivery rather than the index…

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Why John McAfee’s Bullish Bet on Bitcoin Price Won’t Succeed

The anti-virus software pioneer John McAfee has presented bullish assumptions in favor of Bitcoin price (BTC) – John McAfee thinks BTC could hit $1 million level by 2020. Though the anti-virus software pioneer had several reasons to support his bet, he also suggests investors invest only the money they can afford to lose – which signifies that he isn’t too confident in its price prediction strategy. John has based its price target estimate on four key factors: The limited number of bitcoins, almost a total of 21 million Higher bitcoin adoption. A room for growth, expansion, and demand. Its market cap is short of the market cap of…

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Bitcoin Strategist Tom Lee Creates the Bitcoin Misery Index and it says you should buy Bitcoins right now

Bitcoin Strategist Tom Lee Creates the Bitcoin Misery Index and it says you should buy Bitcoins right now Cryptocurrency trading is an emerging market that has been growing and capitalizing at a breakneck pace, but it has atypical behavior when compared to traditional markets. It is not uncommon for currency traders to use adopted ForEx market indicators such as MACD, RSI, Bollinger Bands, Stochastic Indicators or Fibonacci’s Retracements, but the truth is that many of these methodologies were created for traditional markets and may not be entirely right for crypto-trading. This has led many economists and “old-school” investors to see investments in cryptocurrencies more as a gamble…

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