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The Feds are Giving You Another Reason To be Bullish About Bitcoin (BTC) and Ethereum (ETH)

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There is a glimmer of hope from the Feds even after the cryptocurrency markets keep losing value day after day. This is because the St. Louis branch of the US Federal Reserve has added four cryptocurrency price trackers to its extensive research database. The St. Louis branch announced that it will add pricing data for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) to is Federal Reserve Economic Data (FRED).

The data points will be obtained from the popular cryptocurrency exchange of Coinbase and will be updated daily at 5 pm Eastern Time.

The St. Louis branch of the Federal Reserve has been surprisingly open-minded and curious about cryptocurrencies and blockchain technology. The Governor of the St. Louis branch, Governor James Bullard was even at the recently Consensus Summit in New York and had this to say about cryptocurrencies:

“Cryptocurrencies may unwittingly be pushing in the wrong direction in trying to solve an important social problem, which is how best to facilitate market-based exchange.”

Bullard meant that Cryptocurrencies have created ‘non-uniform’ currencies in the United States which could be problematic. He stated that Non-uniform currencies do not have a good track record in that they do not last long after they emerge in the markets. His points are valid in a sense that there are over 1,600 digital assets trading at any one time in the crypto-markets. Rather than converging to a select few, stable digital assets, the industry is diverging to more riskier and weaker digital assets every day. This further destabilizes the crypto markets.

The need for uniformity might be the reason the St. Louis Branch of the Federal Reserve has decided to track pricing data of only 4 of the most known and somewhat stable cryptocurrencies of BTC, ETH, BCH, and LTC. The Feds have clearly seen that these are the most promising digital assets of the aforementioned bunch of 1,600.

It is a bit heartbreaking that Ripple (XRP) is not on the list, but this is because the SEC has yet issued a statement on its fate as being a security or not. Once the government body gives a positive statement on this (that it is not a security), XRP will surely be on a level equal or greater than ETH in terms of being the preferred digital asset investment option.

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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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