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[NEWS BLOG]: Ammonium nitrate that exploded in Beirut bought for mining, Mozambican firm says
(CNN) The original buyers of the ammonium nitrate that was left at Beirut's port have told CNN that it had been bought for use in mining.
Fábrica de Explosivos Moçambique (FEM), a Mozambican explosives manufacturing company, told CNN that they were the ones who originally ordered the ammonium nitrate that was left at Beirut's port for nearly seven years.
The order of ammonium nitrate was intended for manufacturing explosives for mining companies in Mozambique, the spokesperson said.
"We can confirm that yes, we did order it," a spokesperson for FEM told CNN.
The ammonium nitrate never made it to - read more.
OTHER RELATED NEWS
Bitcoin Rips to $6,750 In Move Reminiscent of Last Year’s 25% April Fool’s Rally
Since NewsBTC’s last market update,
Bitcoin has continued to rip higher, recently hitting $6,750. With this, the cryptocurrency is up nearly 9% from the daily lows around $6,200, and up over 16% from the weekend lows at $5,800.
Although not on the same magnitude, many have likened Bitcoin’s recent price action to the 25% surge seen on April Fool’s and April 2nd last year, which was a move that kickstarted a rally from the $4,000s to $14,000 by mid-June.
Analysts believe that the cryptocurrency could continue higher.
Could Bitcoin Continue Even Higher?
Prominent cryptocurrency trader Flood, who called Bitcoin’s weekend move under - read more.
Bitcoin Falls Through Key Average as Traditional Markets Hit Record Highs
- Strong performances in traditional assets and a lack of new reasons to buy crypto is suppressing BTC’s price.
- A loss of the 50-day moving average exposes the $8,000 price level.
- The daily RSI shows that momentum slowing, which could hint at greater selling pressure in the short term.
Bitcoin (BTC) is at risk of another sell-off after its price fell beneath a key moving average on Nov. 15, as a relatively strong performance by traditional assets caught investor attention.
According to Jeff Dorman, CIO at Arca, an investment management firm dealing in digital assets, BTC’s drop in price - read more.
Ripple Price Signaling More Upsides
Recently, there was a steady increase in bitcoin and Ethereum, which helped ripple in recovering above the $0.2250 resistance. XRP price followed a decent bullish past and surpassed the $0.2300 resistance.
Moreover, there was a close above the $0.2320 resistance and the 100 hourly simple moving average. A new weekly high is formed near $0.2359 and the price is currently correcting lower.
It traded below the 23.6% Fib retracement level of the recent wave from the $0.2259 low to $0.2359 high. An immediate support is near the $0.2310 level.
Besides, there is a major bullish trend line forming with support near $0.2305 on - read more.