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Despite the bullish outlook provided by this analysis, Bitcoin’s price is still sitting slightly above the moving average of the Bollinger Bands on the monthly chart. However, this will be the 4th consecutive month that it has tested this level. Should the price fail to hold above $6,900, this could open up a new path down to $2,750.
With a pending bullish MACD cross and the possible CME gap-fill to $7,800 this week, traders could look for Bitcoin to hold $7,800 as a new level of support. This could open up $9,050 as the next key level of resistance over the coming week.
Although the crypto community seems divided on whether Griffith deserves to be punished, there is definitely some concern that now that Ethereum has got the attention of the U.S. Department of Justice, Griffith’s allegedly illegal actions might put all cryptoassets and crypto exchanges under much greater regulatory scrutiny, which could hurt blockchain development and cryptoasset prices in the long term.
He said that the surge in the price of American equities, which are now at all-time highs mostly across the board, sets the stage for risk-tolerant investors to add capital to Bitcoin and other markets that may be deemed “risky” from a classical standpoint. Indeed, the analyst noted that Bitcoin’s best performing years are correlated with strong years in the S&P 500 and other top indices, implying a risk-on appetite from investors.
Lee added during the segment that with the block reward reduction (halving) taking place next year, Bitcoin could get a renewed boost.
Despite the continued optimism on BTC since the erosion of the Xi profits, the market looks bleak at current prices and bulls need to come in handy in the coming days or the market may witness a selloff towards the $6K region. The next candle will be key in determining if bulls or bears are in full control, a cross below the support level at $7,300 will signal a bearish move and a shorting opportunity towards the $6,500 USD support level.
Lastly, Lee points to the regulatory developments in China which he believes are less bad compared to in the United States. While China is sending mixed signals regarding cryptocurrencies, he thinks the Chinese government is “clearly more pro-digital assets and blockchain and underlying that is cryptocurrencies”.
The cryptocurrency market has started the first day of December with a decline. All of the top 10 coins are in the red zone. The total capitalization has declined to $200 bln.
Despite the deluge of applicants and a fierce political battle, Loeffler, a seasoned financial executive, has emerged as the top applicant, according to a report by The Atlanta Journal-Constitution. If Governor Brian Kemp proceeds as expected this week, tapping Loeffler, her seat in the Senate would further cement Bitcoin’s status on the world stage as a technological advancement, emerging from its infancy and building a global network that includes powerful players, politicians and supporters.
Black Friday is now behind us and Cyber Monday is just hours away. For shoppers flocking to Amazon to take advantage of sales, there’s an easy way to pay with Bitcoin – and save even more money in the process.
One of the big problems he sees with present financial systems is their lack of cross-border payment action. He’s concerned with how long payments take and how difficult it is to ensure currencies can be exchanged or crossed. He’s confident an ECB-issued cryptocurrency could fix this:
The currency situation has attracted new initiatives that aim to overcome shortcomings in cross-border retail payments by building a new separate payments ecosystem. These initiatives highlight the rapidly rising consumer demand for payment services that work across borders and that are also faster, cheaper and easier to use.
The aforementioned developments in China’s blockchain space are significant, not only with respect to the tech and the cryptocurrency market, but also in light of the tensions between the USA and China. Many have argued that the United States is too slow to react to the emerging blockchain and cryptocurrency market, giving an opportunity to China to take the lead in the technological race.
As 2019 is nearing its last month, the upcoming cryptocurrency events are also being scheduled and announced online. Here is our list which will help you find a crypto event that you can attend in this December.
After leaving Bitmain, Microbt was sued for allegedly infringing upon Bitmain’s patent for mining rig technology. Moreover, last month, Yang Zuoxing was purportedly held in custody by Chinese police in regards to Bitmain’s intellectual property (IP). Microbt shareholder Wu Gang did not disclose when the Shenzhen-based mining chip manufacturer will release the M30S.
Given the earlier described near-term wedge breach, further momentum to the south appears likely. Targets seen at; $0.2000, $0.1700 and then $0.1500. Stops to be placed just above the noted pattern at $0.2450.
- Consumers will spend around $1,000 on goods this holiday shopping season.
- Skipping the malls and investing is a great way to start building wealth.
- AAPL, LMT, SKT, and JNJ could all make for great buying opportunities this holiday season