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Flagship Cryptocurrency Sinks Below $50,000: Price Analysis

The flagship cryptocurrency BTC sinks below $50,000 despite the recent surge over the past few months so let’s read more in our latest bitcoin news. Bitcoin’s price has dropped below $50K while some in the industry believe that the price drop could be explained by the recently proposed capital gains tax increase by President Biden. The flagship cryptocurrency sinks to $48,000 which is the first time since March 7, 2021. According to CoinGecko, BTC dropped by 10% in the past day and by 24% in the past week. Other coins fared even worse with XRP dropping 17.6% in the past…

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Bitcoin is not an inflation hedge, Bitcoin skeptic claims

Nassim Taleb persists in his belief that Bitcoin is not a good hedge against inflation. Untied to any single government or country, Bitcoin is often labeled as a store of value asset and a hedge against other areas of finance. Nassim Taleb, a former risk analyst and author, thinks otherwise, however.  In an interview with CNBC on Friday, after noting Bitcoin’s (BTC) similarity to a Ponzi scheme, Taleb said: “There’s no connection between inflation and the coin. None.” He added: “I mean you can have hyperinflation and Bitcoin going to zero. There’s no link between them.” This is not the…

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BTC Dumped $3500 After $60K Level Rejection: Analysis

BTC dumped $3500 after the recent $60K level rejection while the coin continues failing in surpassing the $60K level with the latest rejection driving the asset to a new low of $56,500. The entire altcoin space started bleeding out as well so let’s read more in today’s BTC news. BTC dumped $3500 after another failed attempt to overcome the $60K level while most altcoins followed south with the entire market cap losing more than $60 billion in one day.  BTC was flirting with the $60K region for a few consecutive days but every attempt to reconquer was met with a…

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Bitcoin Completed The Best Quarter In History, Bearish Signals Form

Bitcoin completed the best quarter in history, closing in on the red month of March but with the biggest dollar to dollar gain in its history. However now, we can see a few bearish signs popping up so let’s read the analysis in our BTC news today. Despite how strong the ongoing bull trend was in the first quarter of the year, the candle that ended in March closed with massively bearish signals as well. Due to the fact that both BTC’s biggest bull markets topped as the fourth quarter of the year finished, Q1 is one of the worst…

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Crypto Nears $2 Trillion With USD And BTC Close On A High Note

Crypto nears $2 trillion as bitcoin is on track for the best quarter in the past 8 years alongside the surging dollar. The banks continued to count their losses right after Archegos’s sell-off so let’s find out more in our latest cryptocurrency news today. Bitcoin was heading towards $60K before a sharp pullback and the dollar was also on a stellar start this year. Crypto nears $2 trillion with the markets enjoying another day in the green before a flash happened and big banks counted their losses. The global market cap edged 2.4% overnight and took crypto to $1.92 trillion…

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Bitcoin’s Bullish Flag Suggests The Price Will Explode Above $70K

Bitcoin’s bullish flag suggests that the price could surge above $70,000 as a classic technical indicator suggested that the world’s leading cryptocurrency can become even more valuable as we can see more in our latest bitcoin news today. Dubbed as Bull Flag, the chart pattern forms once an asset consolidates to a brief period after a huge price surge. It looks like the downside channel was denoted by two parallel trendlines where the price will fluctuate. During this period of consolidation, the volume drops. The cryptocurrency checked out most of the requirements that suggest it is in a bull flag…

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Analysts Fear Another BTC Drop To $9600 As CME Gap Price Crashes

Analysts fear another BTC drop towards the crucial CME futures gap at $9600 which was formed when the cryptocurrency surged from the $9000 level in late July as we reported in the Bitcoin news. The CME futures are closed on the weekends despite the spot markets of Bitcoin still trading. This forms a natural gap in the CME price action many of which get filled within a week after they were opened. Bitcoin could fill the CME gap soon according to one analyst who saw the recent price action. He noted that the cryptocurrency lost the support of the pivotal…

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One Binance Trader Believes Bitcoin Will Move Higher Soon

One Binance trader believes that bitcoin will move higher in the near-term once it surpasses the $10,000 psychological support as we are reading further in our Bitcoin news today. Both bulls and bears have arguments for their cases right now as the bulls believe that BTC holding this level will lead to a high chance of increase, while the bears believe that more losses in the momentum legacy markets will suppress Bitcoin. One Binance trader believes that Bitcoin is primed to move higher. He joined others in saying that BTC could hit $20,000 resistance around the end of the year…

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BTC Retested $9900 Level Again The USD As Bottom Pattern Emerges

BTC retested the $9900 level against the US Dollar while forming a double bottom pattern close to the same level which could initiate a decent increase above $10,500 so let’s see more in our latest Bitcoin news today. Bitcoin bounced back above $10,200 after BTC retested the $10,000 and $9900 levels. The price still remains trading above $10,300 and the 100 hourly simple moving average. There was another break above the key declining channel with resistance close to the $10,200 on the hourly charts for the BTC/USD pair. The pair will likely continue higher as long as it is above…

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Cryptocurrency Weekly Price analysis: BITCOIN

3rd Sept,2020 Bitcoin is struggling to hold above $12,000 resistance as the asset crossed the $12,000 mark only once the previous week before experiencing a major drop yesterday. A recovery pull above it’s $11,400 support over the mid-week stated that the bulls have not given up yet. The recent plummet faced by the largest crypto asset has shifted it’s support down to $11,200 again. Experts believe, that a drop below $11,000 will eventually lead to next $10,500 for a fresh start of this month. By the time of writing, Bitcoin is trading at $11,304 experiencing further drop which may continue…

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Reuters Poll Indicates Huge Bitcoin Rally Ahead Despite 12% Drop

A Reuters poll indicates that Bitcoin will soon rally despite the recent drop by 12% which saw bitcoin going below $10,000 again. In our Bitcoin news today, we are reading more about the price analysis. The past two days found Bitcoin in a bearish state as the cryptocurrency experienced a massive sell-off on Wednesday that continued until the next session. The BTC/USD pair lost 12% of the value and fell from $11,950 to $10,000. The downside sentiment raised worries about the extended drop with many analysts predicting $9,600 level to be the next bearish target. According to the Reuters poll,…

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Are A Few Bitcoin Sellers Preventing A New Rally Right Now?

The latest Bitcoin news show that BTC is quite idle as it enters no man’s land. However, on-chain analytics suggest that there are a few Bitcoin sellers that are preventing a rally right now as they are holding their amounts of BTC. A top analyst covered this in an analysis, noting that neither his bull nor bear case has been confirmed. Chances are that this consolidation will resolve upward. The new analysis also suggests that there is little on-chain resistance that is stopping BTC from rallying to new local highs and even beyond that. Recent data from WhaleMap, which was…

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3 Huge Trends Suggest Bitcoin Is Poised To Bounce Back After The Drop

3 huge trends are showing that Bitcoin could bounce back after the recent $1000 drop as the cryptocurrency saw a slight recovery since the lows hit at $11,400. The asset is now trading for $11,600 as of the time of writing but BTC is still about $1000 lower since the last high of $12,500 so let’ take a closer look at the price analysis in our Bitcoin news. The cryptocurrency could soon bounce further as the 3 huge trends suggest. These technicals don’t indicate that Bitcoin is ready to set a new year-to-date high above the $12,500. One analyst said…

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Bitcoin Balances at a 21 Month Low As Exchange Exodus Continues

Bitfinex specifically lost 2/3 of its balances within the same timeframe. According to data from Glassnode, the exchanges it tracks currently hold 2.6 million Bitcoin. That is the lowest this amount has been since November 2018. Bitcoin balances on exchanges. Source: Glassnode.The trend toward users withdrawing their funds from the custodial exchanges first manifested itself right after Black Thursday. Since that time, approximately 300,000 BTC has left exchanges in what appears to be a mass exodus. This may be considered a bullish indicator, as it might imply that users do not intend to sell their assets anytime soon. The recent…

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Bitcoin Touched $12,000 Before Crashing By $1000 In A Matter Of Minutes

Bitcoin touched $12,000 just a day ago but crashed by $1000 in a matter of minutes. However, the market sentiment remains unphased so let’s find out more in our Bitcoin latest news. Bitcoin touched $12,000 which is the highest value this year but immediately suffered a rejection soon after. The trading volume and the market sentiment for the cryptocurrency picked up quite a bit in the previous weeks alongside the bullish price action. Today’s drop came shortly after a flurry initiated at $99,964 wick on the quarterly BTC futures contract on Binance as the trader sentiment remains unshaken. BTC Daily…

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Bitcoin Liquidated $75 Million, Suddenly Spiking To $10,200

Bitcoin Liquidated $75 million worth of short contracts and the price instantly surged to $10,200 which got many analysts wondering, what exactly happened here? Well in today’s BTC news we can see that the price increased to a high of $10,272 in an unexpected weekend rally and Bitcoin liquidated $75 million worth of long contracts on BitMEX only. This could be the main reason behind the sudden surge over $10,000 but the liquidation of over-leveraged shorts and taking profits from the users could also be considered as a second reason. When the price started surging, major altcoins as DeFi tokens…

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