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Bitcoin (BTC) Could get to $10,000 due to These 4 Factors

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Bitcoin

Bitcoin (BTC) gathered some serious steam on Monday that enabled it to rise from the $6,300 levels to the current levels of $7,300. The technical analysis had clearly stated that the King of Crypto had been oversold and bound for a rebound in the crypto markets. However, the rebound was only made sooner by a bunch of positive news as shall be elaborated below. The same positive news could be the key to BTC returning to its winning ways and to levels back above $10,000.

General Technical Analysis

The general technical analysis had earlier indicated that BTC had been oversold with the support levels of $6,100 being a last line of defense. This resistance level was key for either upward or downward movement was possible. But with BTC being oversold, the only direction was up. The current resistance level stands at around $8,000 which will be broken due to the other 3 factors below.

Bitcoin ETFs

The current feel in the crypto-verse is that the pending filing of Bitcoin ETFs at the SEC by the CBOE exchange will be approved. This will mean that Bitcoin ETFs will be classified as securities and traditional investors can now get into crypto. This will then usher in a new wave of crypto investing by high net individuals as well as institutional investors. The ruling on the filing by the SEC will be around August. All fingers are crossed that it will be a positive outcome.

BlackRock Investment firm exploring blockchain and cryptocurrencies

The earlier mentioned pump of Bitcoin (BTC) on Monday can be attributed to the fact that the BlackRock investment firm – that handles trillions in traditional assets – had stated through its CEO, that it was exploring blockchain technology and cryptocurrencies. Many crypto-traders believe this is an admission by BlackRock of getting into crypto 100%. This then has opened the floodgates to numerous possibilities.

Billionaire, Steven Cohen announcement on investing in a crypto hedge fund

A fourth and not necessarily the last factor that will lead to $10,000 BTC in the coming weeks, is the admission by Steven Cohen that he had put money into a hedge fund focusing on cryptocurrencies and blockchain based companies. Steven Cohen is known as an industry leader in investing. His admission will bring in more ‘big fish’ into the crypto-markets.

In a nutshell, the time is nigh for a Bitcoin rally to the $10,000 level. Of course, there will be the usual market correction along the way, but the general feeling is that the only direction is up for the King of Crypto.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Is Bitcoin Esport Betting the next big thing in BTC Casinos?

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Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

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Bitcoin

Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

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Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

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Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

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AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

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