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Bitcoin Drop: Bitcoin Loses $200 in 24-hours, Crypto Market Follows

The crypto market is suffering huge losses across the board today. And leading the drop-off is the largest coin by market cap; Bitcoin dropped from over $6,500 to a new two-week low of $6,243 in early trade today. The coin has lost over $200 in a 24-hour period, and as happens more commonly than not, there is no definite reason for the sudden drop.Bitcoin Drop The sudden Bitcoin drop has come somewhat as a surprise. The world’s biggest coin has been hovering between $6,600 and $6,400 for 14-days straight. A stint that has notably been its least volatile period in over a year. But perhaps the Bitcoin drop…

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Bitcoin Price: BTC Skyrockets Nearly 10% and Pulls Rest of the Crypto Market Back into the Green

This morning, Bitcoin (BTC) rose almost 10% in less than an hour. After the Bitcoin price jump, investors began dumping money into the other digital assets, causing the market to widely shift green. Bitcoin Price Movement Last week, Bitcoin had its first major sell-off in months, but this morning it rose nearly $600 in less than an hour. Late last week, it looked as if Bitcoin was going to drop just below the $6,000 mark, but it’s now comfortably trading over $6,500. According to CoinMarketCap, Bitcoin (BTC) is trading at $6,655.71 a coin, up 5.48%, in 24 hours. In seven days, BTC is up 0.264%, and for…

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BTC Price Indicating a Bullish Trend Reversal? Jim Cramer May Disagree

Two days after Jim Cramer made bearish comments on Bitcoin, the BTC price has started to revive itself. A bullish reversal is not yet confirmed, as Bitcoin would have to break above key resistance for that to happen. However, the BTC price has moved back to above $6,000, which indicates a trend reversal could very well be in progress.  And yet, Cramer has still thrown in the Bitcoin towel. He even did so on the day that Bitcoin crossed a high of $6,259. So what gives? Jim Cramer BTC Price: Who Should We Believe? It’s difficult to say, as the crypto market is somewhat divided this week. Some are…

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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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Fundstrat’s Robert Slyumer: Bitcoin Must Rally Through $6,300

Speaking on CNBC yesterday, Fundstrat’s Robert Slyumer has given his opinion on the BTC charts. He believes that the current Bitcoin downtrend can only be reversed if the coin creates a short-term break, through the $6,300 mark. The Bitcoin analyst studied the Bitcoin 15-day moving average charts from May and said: “It really is a no-man’s land from a trading standpoint. I think if you’re a very short-term trader… we have a critical stop level at the $5,800-6000… with a resistance level of $6,300-6400. If it can rally through that, I think there’s a chance Bitcoin could start to turn.” Bitcoin Downtrend: The Moving Average Charts A 15-day…

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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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Jack Ma: Bitcoin Bubble is Real and Blockchain is the Future

Jack Ma Bitcoin Bubble: Yet another well-known figure has come forward to express his thoughts on the cryptocurrency sector. The figure, who is Jack Ma, spoke specifically of Bitcoin (BTC) — and his thoughts weren’t exactly in favor of the cryptocurrency. Jack Ma Bitcoin Bubble: True or False? On Monday, Jack Ma, a Chinese billionaire and the founder of Alibaba Group Holding, spoke at an event held by Ant Financial Services Group, a financial affiliate of Alibaba Group Holding. During his presentation, Jack Ma spoke of both cryptocurrency and blockchain. While he praised the latter, he had a few things to say about cryptocurrencies – specifically Bitcoin. According…

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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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Mr. Greenspan – Bitcoin Price Will Take Years To Stabilize

The substantial amount of volatility in Bitcoin price (BTC) is arguably the biggest factor hindering its potential for global acceptability. Retailers, restaurants, and even credit card companies refuse to support cryptocurrencies due to this price volatility. As a more-than-apt example, the cryptocurrency market cap gained $30 billion in the last twenty-four hours alone, after wiping off $150 billion in the previous three weeks. Source Image: coinmarketcap.com Important investment figures such as Warren Buffett have refused to invest in cryptocurrencies due to the speculation surrounding price movement. Fed Officials and other influentials have also rejected Bitcoin’s potential to work as a viable medium of exchange, as it has no backing…

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