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Capitulation? BTC Battered by Biggest Mining Difficulty Drop Since 2011

[ad_1] Bitcoin (BTC) currently sits at $6,370, a slight recovery from the March 27 pullback which saw the price drop nearly 9% in 4 hours. Despite showing some bullish signs, Bitcoin is still down nearly 30% since last Friday.As previously reported by Cointelegraph, the crash may have been caused by the recent mining difficulty adjustment of nearly -16%. The difficulty adjustment is how the Bitcoin network adapts to the changing
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Bitcoin Price Pumps $600 to CME Gap, But $6.6K May Be End for Bulls

[ad_1] The price of Bitcoin (BTC) retraced to $5,800 during the weekend, which left the markets with an open CME gap between $5,900 and $6,620. Aside from that, buyers have stepped in at the $5,850 level, leading to a $600 rise in the price on Monday. However, is the correction over or is the market range-bound?Crypto market daily performance. Source: Coin360Bitcoin finds support at the $5,850 levelThe bearish scenario showed
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Bitcoin Rallied 80% Without Any Gov’t Bailout: Time to Get Bullish?

[ad_1] The Bitcoin (BTC) price remained relatively sideways last week and not once did it test resistance or support of the descending channel identified in last week's analysis. As such, today I’m looking at a new bullish case for Bitcoin that could see the leading digital asset see incredible growth if $7,200 resistance is broken as far as the technicals are concerned. However, last week proved a massive fundamental turning point for
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Bitcoin Price Rejects $6.9K, But Is a Correction Now Imminent?

[ad_1] The price of Bitcoin (BTC) has shown a strong surge in the past weeks, as the price rallied from $3,750 to $6,900. However, the crucial $6,900 level wasn’t broken to the upside and confirmed as resistance. A similar move occurred on the equity markets, as the United States’ equity markets surged 25% in one week, but saw a sharp selloff of 4% in the last trading hour, going into
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Is Bitcoin a Safe Haven? 80% BTC Price Recovery Boosts Investor Appeal

[ad_1] This week, as a $2 trillion economic stimulus package was put forth by U.S. lawmakers, the performance of major market indexes improved and the Dow registered its best day since 1933, gaining 11% after the major pullback of the last few weeks. In the meantime, gold increased slightly over 5%. The recent market fall-out gave rise to Bitcoin (BTC) critics such as Peter Schiff claiming that “only fools are choosing Bitcoin” over
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Telecommunications Tokens Are Surging Just Like Stocks

[ad_1] Communication-related tokens have surged over 18 percent in the last week, following in the footsteps of Zoom and other telecommunications stocks.Increase in the remote workforceDuring tumultuous times, investors are eager to find assets that can provide shelter or a hedge from volatility. For many decades, this usually meant either gold or gold mining company stocks, since they tended to have a negative correlation with the rest of the market. Over
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Crypto Exchanges Made a Killing During the Ides of March

[ad_1] While March 2020 has been one of the most volatile and unprofitable months for Bitcoin holders, exchanges have benefited greatly from this uncertainty.March 12 selloff spike in volumeThe main source of revenue for crypto exchanges comes from trading fees, so on the days with heavy volume, they see an increase in their revenues.March 12, the day that Bitcoin lost 37% of its value, there was a significant increase in
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‘Unlimited QE’ Pumps Bitcoin but BTC Price Remains Bearish Below $6.8K

[ad_1] The United States Federal Reserve announced a barrage of programs aimed to help the markets, with no limit. That means unlimited QE. Not only the crypto markets are showing a bounce, but other markets are also experiencing the same.Equity markets in the United States hit their limit down of 5% in the futures markets earlier today, but are up 8% since the low. What can be expected from the
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After BitMEX Meltdown, Should Shorting Be Banned on Crypto Exchanges?

[ad_1] Bitcoin’s (BTC) rapid 50% price drop in the wake of coronavirus concerns aroused chatter around banning the ability for traders to assume short positions in cryptocurrency markets. Question is, would that be the right move?Crypto market daily performance. Source: Coin360Flash crash raises spectre of shorting bansOn March 12 Bitcoin dropped to prices not seen since April 2019, shedding half its value as fear gripped markets worldwide. The massive sell-off
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Did BTC Miners Crash Bitcoin Price With 51 Days Before the Halving?

[ad_1] Bitcoin (BTC) price has started to show strength in its recovery since the black Thursday selloff this past week, but is this something we can expect to continue? Or is this a dead cat bounce on the way down to lower lows?In today's analysis I’m looking not only at the charts, but also at the possibility of large Bitcoin miners being the cause of the 50% price drop on