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Bitcoin Explodes More Than 20%,breaks $6,600 In A Day by Maol(m): 3:39pm On Mar 21, 2020 |
Since our last market update, the Bitcoin price has continued higher, with the rate of growth exploding so far that the price of the cryptocurrency has gone vertical, briefly tapping $6,600 just some hours ago. At that price, BTC was up 20% on the day, easily outperforming the American stock market indices of the S&P 500 and the Dow Jones, which have posted slight gains (of 1% to 2%) on the day. Trend is getting Bullish The trend is getting bullish, though. Analyst Galaxy noted that a trend indicator that nailed the $6,400 bottom in December, then predicted a retracement when BTC was trading at $10,000, has just printed a buy signal for the first time since December. This would suggest a reversal is underway. Not to mention, there are many fundamental reasons to be bullish on Bitcoin. Hunter Horsley, CEO of Bitwise Asset Management, shared a few: -Bitcoin has started to decouple from traditional markets, proving that it may act as a safe haven in the ongoing crisis. -72% of Coinbase clients are buying BTC, per data from the company itself. -The Bitcoin block reward halving is 50 days away. -Billions of dollars may return “when levered longs return.” -Central banks have printed trillions worth of dollars to stimulate the economy, setting the stage for inflation that may benefit cryptocurrency. Source and more: http://www.sanwomi.com.ng/2020/03/bitcoin-explodes-more-than-20breaks.html
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Re: Bitcoin Explodes More Than 20%,breaks $6,600 In A Day by spyglaxx: 4:09pm On Mar 21, 2020 |
Btc merchandise has started heavily in Italy. |
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