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Bitcoin (BTC) up Nearly 20% in 48 Hours, How High will It Go?

Bitcoin (BTC) made a rather dramatic comeback just 48 hours ago. At press time, the world’s first digital currency is currently trading above $4,300. The entire crypto community is buzzing, as most altcoins have followed BTC’s upward movements. Bitcoin (BTC) Comeback The cryptocurrency community took a huge hit in mid-November when Bitcoin Cash miners started a hash war. Investors lost confidence in the maturity of the community, as the war dragged out after Bitcoin Cash split in two. On one side was Roger Ver, CEO of Bitcoin.com, who led the Bitcoin ABC movement. On the other was Craig Wright, also known as ‘Faketoshi’ by the crypto community,…

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Bitcoin (BTC) Crash Causes Crypto Mining Closures and Bankruptcy

Back in 2017, Bitcoin (BTC) and cryptocurrency took the spotlight in the media as investors and Wall Street began to take notice of digital currencies and the blockchain. Many executives in the major global banks shot down digital currencies almost immediately, as Bitcoin was a direct threat to their existence. See, Bitcoin was created to expose the currently flawed central banking system and to completely revamp the way individuals spend and send money. It remains unknown why crypto began to pick up speed towards the second half of 2017, but at the time, some digital currencies were seeing 100% gains in a single day. Cryptocurrency mining began…

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Tom Lee Sticks by His $15,000 Bitcoin (BTC) Price Prediction Despite Falling Market

Tom Lee, the long-standing Wall Street crypto bull, is sticking to his $15,000 year-end price prediction for Bitcoin (BTC). The Fundstrat Global Advisor voiced his prediction on CNBC’s ‘Squawk Box’ yesterday. Tom Lee and Bitcoin (BTC) Bitcoin just recently fell to its lowest levels in more than a year yesterday, but Lee remains convinced. Originally, Lee cut his Bitcoin year-end prediction by $10,000—from $25,000 to $15,000. “Days like this, it does make me wonder,” said Lee to CNBC. “These past few days have definitely been a negative development.” The Fundstrat advisor contends that more oversight from US regulators and institutional involvement could push the prices of BTC up. Lee…

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Morgan Stanley Classes Bitcoin as an Asset

Global investment bank Morgan Stanley has given Bitcoin bulls something to cheers about. The institution has stated that it classes Bitcoin as an institutional investment class. (And the day after Bitcoin’s birthday… how thoughtful) What this means is that it recognizes Bitcoin as a type of asset similar to shares, property, bonds, cash, or commodities. It also means good news for those hoping for a Bitcoin ETF. Research Concludes Bitcoin an Asset The bank’s research division reviewed the last six months of Bitcoin usage. What the researchers discovered was that permanent ledger technologies, hacks, hard forks, Bitcoin competitors, and market volatility have led to a conclusion that…

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California Man Faces Up to Five Years for “Unlicensed” Bitcoin (BTC) Sales

A US citizen from California has just pled guilty in federal court for operating an “unlicensed money business” selling Bitcoin (BTC), called LocalBitcoins.com. The Department of Justice (DoJ) released a press release about the case yesterday, October 29th. Unlicensed Bitcoin (BTC) Sales Jacob Burrell Campos has admitted to selling “hundreds of thousands” of dollars in Bitcoin (BTC) to over 1,000 customers on LocalBitcoins.com. The transactions took place from January 2015 to April 2016. The DoJ has characterized his sales as an unregistered ‘Bitcoin exchange.’ Burrell failed to register his business with the US Financial Crimes Enforcement Network (FinCEN) of the US Department of Treasury and did not apply…

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Bitcoin (BTC) Falls Close to $6,500 After SEC ETF Delay

The latest Bitcoin news is that Bitcoin (BTC) has taken a major hit this week and has dragged the rest of the cryptocurrency market down with it. At press time, the total cryptocurrency market is sitting at just above $225 billion, which is $75 billion lower than what it was just two weeks ago. Within the last 24 hours, the crypto market has dropped almost $20 billion. Bitcoin News: Bitcoin (BTC) Struggles According to CoinMarketCap, Bitcoin (BTC) is currently trading at $6,509.67, down -8.50% in 24 hours. For the week, BTC price is down -14.47%, and for the month, Bitcoin price is down -5.15%. This month, Bitcoin…

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Bitcoin (BTC) Breaks $8,100—Up, Up, Up It Goes!

Bitcoin (BTC) price has climbed above the $8,100 mark for the first time today since mid-May. Source: CoinMarketCapBig Week for Bitcoin Bitcoin’s bull run this week is leading many to predict a return of its 2017 bull run that pushed BTC to almost $20,000. Source: CoinMarketCapJuly 16th seems to have started this run when BlackRock, the world’s largest exchange-traded fund (ETF) provider, announced that its company had assembled a group to look into cryptocurrencies, more specifically, Bitcoin (BTC). This news immediately boosted BTC into the green with 4% gains. BlackRock, to date, has managed nearly $6.4 trillion in assets. News of potential institutional investors dipping their toes…

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Tom Lee Bitcoin Price Target: From $25K to $20K

Last month, Bitcoin enthusiasts breathed a sigh of relief when they were informed that the Tom Lee Bitcoin price target was $25K by the end of 2018. But a month later, now in the second half of the year, Tom Lee has changed his mind. He now expects that Bitcoin will trade a little over $20,000 by year-end. Tom Lee Bitcoin Price Target: 20% Less Than Original As the Bitcoin bulls and bears continue to fight, the Fundstrat co-founder has sided with both in certain instances. He admitted that Bitcoin’s trading volume has dropped. He cut his Bitcoin price target. Yet Mr. Lee made it evident Thursday that…

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Bitcoin (BTC) Not Among China’s Top Ten Blockchains

A new Bitcoin ranking has been released, and the BTC position might surprise you. Don’t worry, it’s overall placement is still number one by market cap, but China released a new listing of its top blockchains and Bitcoin didn’t fare so well. Spoiler alert – Bitcoin didn’t even make the top ten. Bitcoin Ranking By China The China Electronic Information Industry Development (CCID) body initially released its blockchain rankings list in May. On the original list, Bitcoin (BTC) hadn’t made it into the top ten either, but it was close, coming in at lucky number 13 (the original list gave a three-way tie between Bitcoin, Verge [XVG],…

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Are Day Traders Ruining Bitcoin (BTC)? Short-Term Speculators on the Rise

Bitcoin day traders appear to be on the rise. The Financial Times reports that there is as much Bitcoin (BTC) owned by short-term speculators as there is by HODLers, or long-term investors, now. Bitcoin Day Traders Catching Up Blockchain research company Chainalysis discovered the Bitcoin data. This data shows that the amount of BTC held by day traders has increased to 5.1 million Bitcoin since December 2017. Bitcoin HODLers, people who have held BTC for longer than a year, together hold around 6 million Bitcoin. While these numbers aren’t quite on par yet, the chief economist at Chainalysis, Philip Gradwell, believes that this might be a “fundamental…

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