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Why Bitcoin (BTC) Will Go Back to $20,000

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The crypto space has entered a period of recovery, as the year-long crypto winter finally ended. However, many in the crypto community are now wondering what will come next? What will happen with Bitcoin?

According to some, the coin will continue its slow and steady growth, while others are hoping to a sudden surge that will take it back to the old heights, and beyond. The coin itself surged by as much as 7.60% on Friday, currently sitting at $5,794.14. The highest point that BTC has reached in 2019 is only $2 higher than the current price.

In other words, the coin is currently going through an astounding recovery, thus somewhat confirming some investors’ belief that it will, in fact, surge back to the old heights. However, there are other factors that might be taken as a confirmation that BTC is on its way back to $20,000.

Bitcoin moving averages are similar to those in 2015

It is no secret that there are many who remain quite bullish on BTC, with claims that the coin could reach $1 million in a few short years. However, while such predictions are still being taken with a grain of salt, others, such as the one made by Peter Brandt, are much more realistic. The Factor Trading author believes that BTC might approach the price of $19,800 relatively soon, and he based this prediction on the weekly moving average indicator.

He noted that Bitcoin’s performance looks very similar to the one in November 2015, which allowed the coin to reach $20,000 within two short years. Brandt is not alone in thinking that BTC is on its way to former glory, as Fundstrat’s technical strategist, Robert Sluymer believes the same. A similar prediction was made by Fundstrat’s co-founder, Thomas Lee, as well.

The new price move closed the coin’s price above its 50-weekly moving average, which usually announces a strong potential for a massive bull run.

Bullish relative strength index

Another indicator of a future rally is Bitcoin’s weekly Relative Strength Indicator, which increased to reach and exceed 53.65, making it the highest since late 2015. The move impacted the buying sentiment significantly, as opposed to the selling pressure that came in January 2018 when the RSI dropped below this mark.

The Golden Cross

Finally, there is the matter of a so-called ‘Golden Cross,’ which is made when the short-term moving average of a particular asset goes above its long-term moving average. Bitcoin has seen several Golden Crosses during its decade-long history, one of which occurred back in October 2015, similarly to other indicators.

As we now know, seeing the combination of these signs and signals in 2015 meant a massive rally in the future. It took the coin two years to do it back then, but the situation is much different these days, and the rally might arrive much faster this time. When these signs appeared in 2015, the BTC price was at $300. Two years later, it reached $20,000. This was considered to be one of the longest bullish periods ever, and now — it appears that the history is repeating itself.

It is difficult, if not impossible, to accurately predict what the coin might do, especially in the long-term. However, all signs of a new massive bull run are here already, and all that remains is to patiently wait and see whether or not the price will act upon them.

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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

Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving
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In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on…

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IE Option – 91% Profit on BTC Fluctuations in Every 60s

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On Thursday, Bitcoin price broke below $6,700 and hit the weekly low to $6,480. Then, it rebounded back above $7,000 again with an increasing rate of 5%. At press time, based on the incomplete statistics, more than $720 million worth cryptocurrency futures contracts have been liquidated in this week. During the strong market fluctuation, investors are learning a hard lesson about the downside of cryptocurrency futures trading with leverage. 

Since we know that we cannot make money by investing in BTC spot trade during the bear market, and we notice the high risks of liquidation by trading leveraged bitcoin futures contracts, how can we hedge the loss in spot trade and profit from the BTC market volatility? 

BTC Option is a profitable trading product that you can turn to!

What is Option?

Option is a type of crypto derivative contract which enables investors to make speculative bet on price rising and falling. Call option means that trader long BTC at a given strike price, while Put option allows trader to short BTC at a given strike price. 

For example, if you predict that BTC price may surge, you can buy a call option. Suppose that you buy a call option at $7,000. As long as price exceeds $7,000, you can make profit. 

IE Option – Get…

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4 things you should know about bitcoin casinos

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Bitcoin casinos
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Bitcoin Casinos are the ideas of innovation, firmly moving towards the goal of disrupting the whole Gambling Industry. Best Bitcoin Casinos are the true trailblazers of the new era of gambling. Their creators quickly recognized all the immense potential that blockchain and cryptocurrencies contained within themselves. Most of the top Crypto Casinos started operating in the first half of the past decade and are quickly moving towards being the dominant force, when it comes to online gambling. There are a couple of key characteristics and advantages that elevate BTC Casinos above the rest of the competition on the market.  

Trusted casinos have fast withdrawals

Only the Best Bitcoin Casinos offer players the benefits that come with using cryptocurrencies as the main source of finance. One of the biggest advantages that BTC Casinos have over the rest of the competition is speed. When using cryptocurrencies, players can deposit and most importantly withdraw their money with blistering speeds. Thanks to blockchain technology, all the financial transactions are completed within the minutes of request. Alternatively, standard online casinos operating under the guidance of classical banking intuitions, need several days to complete the same procedures.

In BTC Casinos anonymity matters 

Another amazing benefit of Bitcoin Casinos is the ability to stay completely anonymous during the transactions and gameplay. Thanks to the…

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