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

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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

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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