Bitcoin Price: Key Technical Indicator Shows BTC Surging to $5,500

Bitcoin Price: Key Technical Indicator Shows BTC Surging to $5,500

Original Author: Joseph Young – Go to Original Source

Throughout the past three months, the bitcoin price has flirted with the $4,200 resistance level, often struggling to maintain momentum above the key $4,000 mark. Several traders have demonstrated concerns over the extended period of stability demonstrated by bitcoin because, in late 2018, the cryptocurrency recorded a drop of around 50 percent following three months of stagnation in the $6,300 to $6,500 range. However, a cryptocurrency technical analyst known to the community as “Galaxy” has said that once bitcoin breaks out of a key resistance level above $4,000, it could potentially recover to $5,500. The analyst explained: “According to Bulkowski’s

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Bitcoin Expertise ‘Exploding’ Among Insurance Professionals in 2019: Study

Bitcoin Expertise ‘Exploding’ Among Insurance Professionals in 2019: Study

Original Author: Guest Writer – Go to Original Source

Bitcoin and blockchain expertise in the insurance industry has “exploded” over the past two years, and insurers who ignore blockchain technology do so at their own peril, according to a new report from Aite Group, a global research and advisory firm. Insurance Professionals are Boning up on Bitcoin Individuals with technical expertise in both Bitcoin and insurance (based on LinkedIn profiles) soared from 102 in April 2017 to 5,418 in January 2019 (see Figure 1 below). Those with expertise in both blockchain and insurance rose even more dramatically: from 96 to 29,355. Blockchain technology, while not completely immature within the

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Why Bitcoin Plunged to 15th in China’s Bizarre Crypto Rankings

Why Bitcoin Plunged to 15th in China’s Bizarre Crypto Rankings

Original Author: Joseph Young – Go to Original Source

China Electronic Information Industry Development (CCID), which operates directly under the Ministry of Industry and Information Technology of China, released its crypto rankings for March, featuring top 35 crypto assets in the likes of Ethereum, Bitcoin, EOS, TRON, and Ontology. Bitcoin dropped from 13th to 15th since last month while TRON climbed up the rankings to secure the number 2 spot. EOS topped the rankings, and Ethereum fell behind TRON at third. EOS & TRON Trump Bitcoin in China Blockchain Rankings While Bitcoin dropping to 15th out of the 35 crypto assets on CCID’s ranking surprised many investors and analysts,

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What Crypto Bear Market? Japanese Banking Giant SBI Will Soon Mine Bitcoin

What Crypto Bear Market? Japanese Banking Giant SBI Will Soon Mine Bitcoin

Original Author: Joseph Young – Go to Original Source

SBI Holdings, a major financial and banking giant in Japan, has formally announced the launch of SBI Mining Chip Co., Ltd., officially entering the bitcoin mining industry. In recent months, the most dominant forces in the global bitcoin mining industry in the likes of Bitmain, Cannan, and Japanese internet conglomerate GMO have struggled to adjust to market conditions. As the bitcoin bear market extended to a 15-month correction, despite the gradual increase in hash power, the demand for bitcoin mining due to the general decline in profitability of mining noticeably dropped. The entrance of SBI Holdings into the mining market

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Bitcoin Price @ $10,000: BitMEX CEO Predicts Strong Gains in Q4 2019

Bitcoin Price @ $10,000: BitMEX CEO Predicts Strong Gains in Q4 2019

Original Author: Joseph Young – Go to Original Source

On BitMEX Crypto Trader Digest, BitMEX CEO Arthur Hayes reaffirmed his prediction for bitcoin, foreseeing the dominant cryptocurrency achieving $10,000 in price by the end of 2019. Previously, in mid-2018, when the sentiment around bitcoin was still generally optimistic, Hayes said that the asset had not found its bottom and is likely to fall below $5,000. Now, a newsletter sent from the desk of Hayes read: Green shoots will begin to appear in early Q4. Free money and collective amnesia are powerful drugs. Also after two years of wage cucking, punters should have a few sheckles to rub together. The

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