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Analyst Expects Bitcoin Price to Hit $27,000; Here’s Why

[ad_1] Bitcoin may hit $27,000 in the coming sessions, says an analyst. The analogy appeared as the cryptocurrency trends inside a Bullish Pennant structure on its monthly chart. The analyst sees BTC/USD breaking above the technical pattern and aim for an all-time high as its upside target. In the case of Bitcoin, they say “when in doubt, zoom out.” The saying typically ripples across the crypto circles whenever Bitcoin trends
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Bitcoin Rises on Positive US Jobs Report: Why Analyst Sees a Correction

[ad_1] Bitcoin rose in the first session of July as it maintained its short-term positive correlation with the S&P 500. The gains followed the release of the ADP National Employment Report, revealing an addition of 2.4 million jobs in the nonfarm private sector in June. Meanwhile, analysts warned about deeper corrections in both the Bitcoin and S&P 500 market. Bitcoin price inched higher on Wednesday after taking cues from similar
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A ‘Significant Increase’: UK Regulator Says 2.6 Million Residents Have Bought Cryptocurrencies

[ad_1] The UK’s top financial regulator has conducted a survey and found a “significant increase” in the number of crypto owners and awareness of cryptocurrencies. The regulator estimates that 2.6 million people in the country have bought cryptocurrencies, most of which were from non-UK cryptocurrency exchanges. UK Regulator’s Crypto Survey The Financial Conduct Authority (FCA), which regulates the financial services industry in the U.K., published a report entitled “Cryptoasset consumer
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Industry Executive Doubles Down: Bitcoin Will Hit $50,000 in 2020

[ad_1] After a strong rally from the March lows, Bitcoin has stopped trending higher. For the past two months, the cryptocurrency has been caught in a 15% range that it has barely deviated from. The consolidation has been met with assertions by analysts that BTC has lost its momentum. One trader asserted on June 30th that the key Ichimoku Cloud indicator showed “weakening bullish momentum.” Yet many investors in the
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Australia Post Offices Now Allow People To Buy Bitcoin

[ad_1] Australians can now pay for bitcoin at their local post office due to a new collaboration. In an announcement made on June 24, users of Bitcoin.com.au will be able to buy bitcoin at more than 3,500 Australian post offices. These post offices will accept Australian dollars and EFTPOS (electronic funds at point of sale) payments for bitcoin purchases from Bitcoin.com.au through the Post Billpay service. Also, part of the
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Alt-Right Activist Stefan Molyneux Banned from Youtube, Raises $100K in Crypto Donations

[ad_1] The founder of Freedomain, philosopher and alt-right activist, Stefan Molyneux, received more than $100,000 in cryptocurrency donations after he was banned from Youtube on June 29, 2020. Stefan Molyneux is well known for his Youtube videos, podcasts, and books. His early Youtube videos describing the benefits of bitcoin have been lauded. While getting over $100k in bitcoin, dash, bitcoin cash, and ethereum donations this week, the alt-right activist has
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The Grayscale Bitcoin Trust May Be Signaling BTC has Formed a Long-Term Bottom

[ad_1] Bitcoin has been consolidating between $9,000 and $10,000 for the past several days and weeks, struggling to garner any clear trend The crypto has expressed some overt weakness in recent times due to its propensity to trade near the lower boundary of this range Buyers have been ardently defending against a drop below $9,000 One trend seen while looking towards the publicly traded Grayscale Bitcoin Trust seems to indicate
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Tether’s Market Valuation Grows 144% in 2020, USDT Market Cap Worth $10 Billion

[ad_1] The most popular stablecoin, Tether, has propelled its way into the third-largest position by cryptocurrency market capitalization. At the time of publication, a number of market valuation aggregators show that Tether’s market cap is between $9.1 to $10.1 billion. Tether (USDT) is a well known stablecoin token issued by the company Tether Limited. The company claims each token is backed by a single U.S. dollar, but during the last
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Ethereum Bulls Defend Crucial Support, But Outlook Remains Gloomy

[ad_1] Despite navigating down towards its crucial support at $220, Ethereum’s buyers were able to defend against a break below this level The cryptocurrency now appears to be well-positioned to maintain above this level in the near-term, as buyers are currently ardently defending another crucial support level That being said, on its daily chart the cryptocurrency does appear to be flashing some signs of overt weakness One group of analysts
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Bitcoin Investors Pocketed 42% in Gains During the Second Quarter of 2020

[ad_1] The second quarter of 2020 was very profitable for bitcoin investors, according to data analytics firm Skew. During the period, the top cryptocurrency climbed 42%, its fourth-best quarterly close since 2014. For the March quarter, the digital asset fell 10.6%, dragged by the massive Black Thursday crash. As a matter of fact, bitcoin declined in three successive quarters before Q2 2020. In terms of price, bitcoin (BTC) soared from