The recent week has been relatively dull on the price movements of Bitcoin (BTC), as a slow upward trend was established after Bitcoin’s price found a footing at above $10,000. This rally then continued toward $11,000 on Sep. 18 but was pushed back by some short-term resistance levels. The previous week has been focused solely around Uniswap (UNI) and the airdrop of its token, combined with several listings on high-end exchanges. At the same time, let’s take a look at the price of Bitcoin and its charts to gauge where…
Day: September 19, 2020
Stamping out corruption with blockchain tech
Some of the main functions of government institutions include redistribution of resources and maintaining official records. These are precisely the domains where blockchain technology — with its focus on facilitating secure, traceable transactions and maintaining immutable records to build trust — is well-positioned to make a strong impact. A recent report by Denmark’s Ministry of Foreign Affairs is the latest to highlight blockchain technology’s potential to serve as a powerful tool in the fight against government corruption. This proposition, however, is only the latest in a long string of policy…
This Level Holds the Key to Bitcoin Soon Retesting the Critical $12k Level
Bitcoin faced a strong rejection at the pivotal $12,000 level after rallying to that resistance earlier this month. After failing to hold above $12,000, the coin plunged by just over $2,000 in the days that followed. At the lows, BTC traded for $9,800 — $2,200 below the local highs and $2,700 below the year-to-date highs at $12,500. Bitcoin could soon make another run at $12,000, though. An analyst says that the leading cryptocurrency will be cleared to move toward that level if it achieves the following technical accomplishment. Related Reading: Here’s…
Here’s Why Bitcoin Traders Should Be Favoring Longs Right Now
Bitcoin has been stalling around the high-$10,000s over the past few days despite the surged earlier this week. The coin now trades at $10,850 as of this article’s writing, a few percent shy of the local high. Analysts are certain that investors should be favoring longs right now. Here’s why they think so. Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000 This Is Why Bitcoin Is Primed to Move Higher One cryptocurrency trader shared the chart below, noting that he thinks sellers (short position holders) may be…