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Next Bitcoin Halving Could Squeeze out Retail Miners, But Jury’s Split on Price

Is the next halving going to send bitcoin to the moon? Well, maybe not that fast. As the programmed reduction of the miners’ reward is approaching (expected to happen in May next year), people are disagreeing about its probable effects. Bitcoin has gone through the halving two times before, in November 2012 and July 2016, and both times the events marked the beginning of the next bull market. But, it’s an open question if the halving brings …

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Bitcoin Fails at Key Price Hurdle, Risks Return to $8,000

Bitcoin is facing further losses after the bulls failed to capitalize on price gains seen this week. The cryptocurrency’s quick pullback from a 2.5-week high of $8,830 to below $8,400 this morning has invalidated a bullish breakout on the 4-hour chart seen Wednesday, as seen below. 4-hour chart The failure to hold above the 200-day moving average (MA) at $8,654 has also weakened the bullish outlook on the daily chart and may have shifted risk in favor …

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Bitcoin Price Looks North Despite SEC’s Latest ETF Rejection

View Bitcoin’s short-term bullish view remains intact. Daily chart indicators are biased bullish, while the 4-hour chart is reporting a bullish reversal pattern. So BTC could rise to $9,000 in the days ahead. The bullish case would weaken if prices drop below key support at $8,110. Bitcoin (BTC) continues to look north and may rise to $9,000 in the short-term despite a U.S. regulator’s decision to reject a bitcoin exchange-traded fund (ETF) proposal. The U.S. …

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Bitcoin May Be Headed for a Stronger Price Bounce

View Bitcoin’s moving average convergence divergence (MACD) histogram is charting higher lows, indicating seller exhaustion. Other indicators are also reporting oversold conditions. A falling channel on the hourly chart may end with a bullish breakout and fuel a rally to $8,800. On the way higher, BTC may encounter resistance at $8,500 (200-day average). The case for a stronger corrective bounce would weaken if prices find acceptance below $8,000. Bitcoin’s stalled recovery rally may soon gather …

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Bitcoin Is 2019’s Best-Performing Asset, Even After Recent Price Downturn

The Takeaway Bitcoin prices have more than doubled in 2019, far outpacing the 31 percent return for U.S. tech stocks, which Goldman Sachs deems the best-performing asset class year-to-date. Outsize returns could attract interest from big investors in the yield-starved traditional financial markets. Executives at data firm Messari say bitcoin prices, currently around $8,200, could rally to a new high in the year’s remaining months, topping the $12,902 level reached in June. Investors would be …

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Bitcoin’s $800 Price Recovery Runs Into Key Resistance

View Bitcoin’s bounce from Monday’s three-month low of $7,715 is struggling to beat the 200-day moving average resistance, currently at $8,440. The recovery rally lacks volume support and could be short lived. A rising wedge breakdown seen on the hourly chart favors a drop to levels below $8,000. A close above Monday’s high of $8,368 is needed to weaken bearish pressures. A bullish close, if confirmed, could yield a break above $9,000. Bitcoin is better …

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Ether Outshines Bitcoin in a Gloomy Month for Crypto Prices

September has been a rough month for bitcoin and the wider cryptocurrency market, but ether has weathered the storm better than most. Bitcoin, (BTC), the leading cryptocurrency by market value, is on track to post a monthly loss of more than 16 percent – the biggest since November 2018, according to CoinMarketCap. As of writing, BTC is trading around $8,070, having hit a 3.5-month low of $7,838 earlier today. Meanwhile, the total market capitalization of …

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Bitcoin Approaching Biggest Weekly Price Loss of 2019

View Bitcoin is on track to post its biggest weekly loss of 2019, having found acceptance below key support for the first time in nearly six months. The top cryptocurrency by market value is currently trading at $8,030 on Bitstamp, representing a 20 percent drop from this week’s (Monday’s) opening price of $10,022. That is the biggest weekly loss of 2019 assuming prices remain at similar levels until Sunday’s UTC close. The biggest loss of …

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How Leverage Can Help With Bitcoin’s Price Discovery

Bitcoin (BTC) is like any other asset class in that it captures value through organic price discovery conducted via trading activity on global exchanges. Yet leverage and margin trading, in general, can help “turbo-charge” demand for an asset. They can also free up capital, thus increasing liquidity within a given market as traders look to use their capital elsewhere. It’s an investment strategy of using borrowed money for the use of various financial tools to …

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Bitcoin Price Risks Drop to $7.5K After Third Biggest Daily Loss of 2019

View BTC looks set to test support near $7,500, having confirmed a bearish reversal with a high-volume triangle breakdown on Tuesday. The cryptocurrency’s violation of the historically strong 55-candle exponential moving average (MA) on the three-day chart also favors a deeper price slide. The outlook would turn bullish if prices quickly rise above Tuesday’s high of $9,782, although that looks unlikely at press time. Bitcoin fell sharply on Tuesday, confirming a bearish reversal and opening the …

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