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Is Bitcoin Spiraling Down to a New Bottom?

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Bitcoin (BTC) appears to be in yet another free fall, with no indication when or where it will stop, and investors are wondering if the coin is going to breach its recently identified bottom once again.

Bitcoin behavior in 2018

Bitcoin has had an eventful 2018, with countless ups and downs in the last 12 months. As many are aware of at this point, the BTC started this year with an all-time high, when it reached $20,000 per coin. The situation quickly took a turn for the worse, and in mid-January 2018, the market crashed. As a result, BTC started losing value, and over the following months, it lost over 30%.

The free fall stopped at around $6,300, which is where the coin managed to stabilize for several months. At this point, it often had small surges which provided investors with hope that the coin has reached a bottom. Many believed that it will stop dropping and that it can only go up from this price. Then, in November 2018, the market crashed yet again, and BTC breached its bottom.

It continued its downward spiral until it reached $3,200, which experts identified as the new bottom. Once again, investors were hoping that this will be the end of Bitcoin’s value loss and that the market will switch from bearish to bullish. That also seemingly happened on December 17th, and for an entire week, Bitcoin was growing once again, until the surge increased its value by around $1,000.

As many predicted, this was still not the end, and the coin is now rapidly losing value for the third time this year. At the time of writing, the BTC value is at $3,661.49, after experiencing a drop of 3.5% in the last 24 hours.

What will happen next?

It is unclear where the coin will go from here, and while investors are hoping that its bottom might still lie at around $3,200, some analysts are leaving open the possibility that this bottom is not the real one, and that BTC will soon breach it.

It appears that Bitcoin’s downward spiral once again affected the entire market, and almost all cryptos within the top 100 are currently trading in the red. The situation is pretty much the same when it comes to the ten largest coins by market cap, with only Tether (USDT) experiencing slight gains. Bitcoin’s market cap ($63.88 billion) currently still dominates the crypto space, with the coin owning more than half of the total market cap ($120.5 billion).

Since the second market crash occurred, the crypto community searched for Bitcoin price predictions in their attempts to understand what is going on, and what might be the best course of action. Some analysts proposed that Bitcoin’s value has yet to reach its real bottom and that it is likely that the coin will drop below $3,000.

In the meanwhile, it appears that bears have returned to the market for one last time in 2018. With only a few days of this year remaining, this will likely be the last drop that Bitcoin is experiencing. The community is expecting that 2019 will be the year when the situation will turn around, with crypto thriving in prosperous conditions once again. While this is not impossible, many experts believe it is unlikely that it will occur on January 1st.

It will take a lot of change for the market to break free from the bearish grip, and large projects such as the Bakkt exchange launch might start this process. Of course, no one can predict the future, and analysts can only rely on behavioral patterns through which Bitcoin has gone through so far. Even so, there is a lot of potential in 2019, and it is entirely possible that the new era of crypto prosperity might start at some point.

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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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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Bitcoin

New Tendencies of Bitcoin Gambling

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Gambling has always been an integral part of human nature. Nothing is sweeter than the money you win, and that’s why wagering games have always captivated people throughout history. Last couple of decades saw the gamblers switch increasingly towards virtual gaming, instead of physically being inside a casino. The popularization of online casinos led to the integration of Bitcoin Gambling into the systems and today a very large share of the casino industry is based on the virtual currency.

Reasons behind the transition

The tendency to switch from classic casino environment was dictated by the fact of mobility and accessibility. But the new age has brought us cryptocurrencies like Bitcoin that revolutionized the gambling business. From now on, the gamblers of the world don’t have to rely on traditional banking transactions to be able to enjoy themselves online. A simple crypto-wallet and ownership of virtual currency is enough to engage in Bitcoin Gambling.

Bitcoin Gambling and Blockchain Technology

The big reason for the heavy shift towards Bitcoin Gambling is the fact that Bitcoin and other cryptocurrencies are based on the blockchain technology. This means that the process is decentralized, resulting in a much faster speed of transactions, when it comes to depositing or withdrawal of funds in or from the casino accounts. It also makes gambling incredibly secure,…

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Bitcoin

Bitcoin will return to the bear market? Bex500 senior investor teaches you how to get profit in the Bear market

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—— Don’t forget to join Bex500 bonus program at the bottom of the article.

Since September, the Bitcoin price has been decline from beyond $10000 to below the $8000, which 20% of the bitcoin value has been removed. The collapse of bitcoin price brings about the new panic in the bitcoin trading market. Many bitcoin investors are scared of the returning bear market as the early of this year. On the contrary, some of the bitcoin-believer, especially the investor who brought Bitcoin in the height of the price still thought that the bitcoin price will rebound very soon. However, it is no doubt that the early stage of the bear market has been shown up in the past month. Many crypto analysts start to predict the bottom price of this market movement.

However, as the market developed, crypto traders have detected more tools to safely pass through the bear market. They realized more ways to avoid the loss of the price decline; moreover, they began to earn profit from the bear market. The key to the tools is the bitcoin futures contracts. We are honored to make an interview with Bex500 senior investor Tom Beck and he introduces the details about bitcoin futures contracts. (Reporter=R, Tom Beck=T)

R: Hi, Tom, Thank you for accepting our interview, Could you introduce yourself?

T: Sure, My name is Tom, I have over…

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