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[NEWS BLOG]: Bitcoin Prepares to Rally to $12,000 as Price Forms Historically Bullish Pattern
After attempting to break decisively past $10,000 for the second time in a week, Bitcoin was rejected, plunging as low as $9,200 for the umpteenth time in a matter of days.
The tepid price action has made some investors cautious that more downside for the flagship cryptocurrency is possible, citing the loss of the key $9,500 support.
Prominent analysts, however, have begun to spot silver linings in Bitcoin’s chart that are suggestive of a reversal to the upside, not an extension to the downside as some analysts have come to expect.
"Bitcoin Readies for Next Leg Higher"
Bitcoin seemingly moves without rhyme - read more.
OTHER RELATED NEWS
Ripple Price (XRP) Correcting Gains: BTC And ETH Rally
Ripple Price Analysis
Yesterday, there was a minor downside correction in ripple price from the $0.2850 resistance against the US Dollar. XRP price tested the key $0.2720 support area. A base was formed above $0.2700 and later the price started a fresh increase. There was a break above the $0.2750 resistance and the price remained well above the 100 hourly simple moving average.
Finally, the price surpassed the $0.2850 resistance area and traded to a new weekly high at $0.2872. Recently, the price started a downside correction below the $0.2850 and $0.2800 levels. Additionally, there was a break below - read more.
White House Moves Towards Intense Crypto Crackdown, What Will it Mean for Investors?
Ever since US President Donald Trump shared his thoughts on Bitcoin in a blistering tweet from last July, crypto investors have been nervously anticipating news regarding when the government would start a formal crackdown on the nascent technologies.
It now appears that this crackdown could be on its way in the coming couple of years, as the White House’s newly released 2021 budget proposal recommends shifting the US Secret Service to operate underneath the Treasury in order to investigate crypto-related crimes.
White House Budget Proposal Links Crypto to Crime and Terrorism
In the 106-page document, the word “cryptocurrency” is only mentioned - read more.
Crypto, Crypto, Crypto… CEO Says ‘Crypto’ 100K Times For Homeless Charity
The CEO of a digital currency exchange in the UK has set himself an incredibly bizarre challenge. People have been donating to Pete Wood of CoinBurp as he attempts to raise money for a homeless charity by saying the word “crypto” 100,000 times.
Wood is live streaming the challenge via YouTube with public addresses displayed for both Bitcoin and Ethereum donations. The proceeds of the fund raiser will be gifted to the Centrepoint – the UK’s leading youth homelessness charity.
UK Crypto Exchange Working with Homeless Charity to Promote Cryptocurrency Giving
According to the description on the YouTube live stream of the obscure fund raiser, the - read more.