Bitmain Exits Amsterdam Citing Focus on Long-Term Scalable Business Strategy

Cryptocurrency mining giant Bitmain Technologies has opted to reduce its operations in the Netherlands, the company said in a statement on Jan. 14. Bitmain, which in November announced the first in what has become a series of cost-saving measures by shutting down a blockchain development center in Israel, said the move was part of its longer-term roadmap. The company has reportedly suffered as a result of decreased profitability of Bitcoin mining in recent months, with Bitcoin (BTC) currently circling $3,600. “As we build a long-term, sustainable and scalable business, we…

Teen Bitcoin Millionaire Erik Finman Proclaims Bitcoin Is ‘Dead’ Long-Term

Teen crypto star Erik Finman has said Bitcoin (BTC) “may have a bull market or two left in it,” but that “long-term, it’s dead,” in an interview with financial news site MarketWatch on Dec. 17. Finman is famous for his precocious investment in Bitcoin back in 2011, when he reportedly bought in — at the age of twelve — at $12 a coin. The high-schooler’s $1,000 gift from his grandmother thus became over $4 million during the cryptocurrency’s 2017 all-time-price-highs. Finman sealed further fame by notoriously winning a bet with…

Crypto Trader Still Long-Term Bullish After Bitcoin (BTC) “Bloodbath”

Crypto Market Conditions Are “Phenomenal” For Traders Diversified trader Merlin Rothfeld, an investment strategist at Online Trading Academy, recently sat down with Cheddar, an up and coming fintech media outlet, to discuss the current crypto market. The outlet, who has developed a penchant for covering the Bitcoin (BTC) ecosystem, asked the trader, as it did with its other crypto guests, about his opinions on the market. Interestingly, Rothfeld went against the crowd, claiming that the conditions in the crypto seas are “phenomenal,” alluding to the fact that BTC’s most recent tumult…

Crypto Trader Still Long-Term Bullish After Bitcoin (BTC) “Bloodbath”

Crypto Market Conditions Are “Phenomenal” For Traders Diversified trader Merlin Rothfeld, an investment strategist at Online Trading Academy, recently sat down with Cheddar, an up and coming fintech media outlet, to discuss the current crypto market. The outlet, who has developed a penchant for covering the Bitcoin (BTC) ecosystem, asked the trader, as it did with its other crypto guests, about his opinions on the market. Interestingly, Rothfeld went against the crowd, claiming that the conditions in the crypto seas are “phenomenal,” alluding to the fact that BTC’s most recent tumult…

Bitcoin Price Erases Weekend Gains to Confirm Bearish Long-Term Trend

The bitcoin price kicked off the week on a negative note after correcting 2 percent to the downside. The BTC/USD rate found itself unable to breach above the neckline level discussed in our previous analysis. The falling trendlines look stronger than ever in other patterns as well. The symmetrical triangle formation, for instance, on the hourly chart also presents its upper trendline as a strong resistance level to the recent bullish attempts. Bitcoin is forming lower highs and higher lows to consolidate inside the same triangle. As of now, we…

Bloodbath in US Stock Market Likely, Bitcoin a Good Long-Term Bet

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. Student loans, credit card debt, mortgage, corporate loans, and all kinds of debt are placing huge pressure on the U.S. stock market. Over the long-term, Mark Yusko believes emerging markets and Bitcoin are viable long-term bets for investors. On CNBC’s Fast Money, Morgan Creek Capital Management CEO and chief investment officer Mark Yusko expressed his concerns towards the “melting” stock market of the U.S. and warned…

50% Favor Bitcoin as Long-Term Investment in Former US Rep Ron Paul’s Twitter Surveyм

Former U.S. Congressman Ron Paul has asked Twitter users Nov. 15 how they would prefer to receive $10,000 if they had to keep it in this form for a decade, with the majority picking Bitcoin (BTC) . Of the respondents, 50 percent answered that they would prefer to receive their $10,000 in Bitcoin, the second most chosen asset was gold (37 percent), the third U.S. 10 year treasury bonds (11 percent), and the last was the U.S. dollar at only 2 percent. Screenshot of Ron Paul’s Nov. 14, 2018 tweet.…

Bitcoin (BTC) Price Watch: Ready for a Long-Term Breakout?

Bitcoin Price Key Highlights Bitcoin is now at the very end of its long-term triangle consolidation pattern, so a breakout could happen anytime soon. Price is currently testing the resistance around $6,600 and a long green candle closing above this could be enough to signal further gains. Technical indicators are giving mixed signals on the possible direction of a breakout. Bitcoin price could be ready to break out of its daily symmetrical triangle pattern, setting the longer-term direction. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA…

Bitcoin (BTC) Price Watch: Short-Term and Long-Term Reversal Patterns

Bitcoin Price Key Highlights Bitcoin price has broken past the neckline of a short-term double bottom to signal that an uptrend is underway. Price is also in the middle of forming a longer-term double bottom visible on its 4-hour chart. Bitcoin has yet to test the neckline on this larger reversal formation at the $7,400 level. Bitcoin price has confirmed its short-term double bottom but has yet to complete a larger one to signal a longer-term climb. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA on…

Analysis: “Uncanny” Correlation Between The Long-Term Bitcoin And Gold Charts

“Uncanny Pattern Resemblance” Since Bitcoin’s inception a decade ago, many have likened this decentralized digital asset to gold, with some dubbing Satoshi’s brainchild as a form of “digital gold.” This connection may be drawn due to the fact that the two individual assets are both stores of value, divisible, durable and secure. Although there are similarities between the two assets that are as clear as day, as recently pointed by Nunya Bizniz, a lesser-known cryptocurrency proponent, there might be an “uncanny” line that can be drawn between the price action of gold…