Bitcoin

BTC/USD big bullish pennant subject to potential breakout

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Bitcoin price on Wednesday is nursing losses of some 0.25% in the second part of the day. BTC/USD price action has formed a bullish pennant pattern structure via the 60-minute.   Bitcoin price well into the second half of the session Wednesday is trading with losses of some 0.25%, as the price consolidates. BTC/USD is moving within a bullish pennant pattern structure, subject to a potential breakout. Price action has been consolidating within the noted structure since 13th May, after a strong run of gains over the past few days. Bitcoin managed to hit the highest levels that have been seen since July 2018, during the bear market at the time. The immediate resistance can be seen at $8000, the upper acting trend line of the pennant. Market bulls are taking a breather following the drive higher. There appears to be just one major barrier seen from $8000-8500 price range., ahead of $10,000.   BTC/USD 60-minute chart


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Bitcoin

Don’t Celebrate Yet, Bitcoin Could Still Spiral Down To $1k

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Bitcoin may be touted as one top crypto headed for a major bull run in the near future, but it turns out that not everyone is of that opinion – at least not Leah Wald. However, others like Fundstrat’s Tom Lee have long emphasized that the crypto winter is officially over, especially after Bitcoin’s charts formed the Golden Cross that’s recognized as a sign for an impending bull run.

Still, according to Leah Wald, Bitcoin’s price could fall back to $1,000 in the event of a severe retracement – unless it can surge up to reach the previous ATH and possibly break the record to trade above $20,000. Leah Wald is a cryptoanalyst and a former World Bank economist.

Hyperwave Theory

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Altcoin

Winklevoss: Buying Bitcoin isn’t “as crazy as sitting on the sidelines”

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While it could be argued that investing in Bitcoin is certainly a risk, Cameron Winklevoss, – one-half of the famous Winklevoss twins – believes that it’s not as risky, or as he puts it “crazy” as waiting on the sidelines.

The Winklevoss brothers are known for their bullish ways, especially when it comes to Bitcoin (BTC); and today is no exception with Cameron offering his famous rhetoric on the #1, encouraging speculators to jump in and invest.

According to Cameron while some think you would be mad to invest in BTC, he states that you would be crazy not too, equating the rise of cryptocurrencies to the “future of money”



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Blockchain

Update From New York City’s Blockchain Week

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PHOTO:
Kai Pilger

For the last five years, every spring CoinDesk has been hosting its blockchain technology conference Consensus in New York City. The idea is to bring together the top brands and developers in the cryptocurrency and blockchain spaces to learn what’s new and what’s next. The event has grown to include the surrounding Blockchain Week, which includes both official and unofficial events thanks to the volume of attendees.

Related Article: Blockchain Will Stall Until it Finds Its Killer App

What’s New in Blockchain?

Cryptocurrency is moving past the toddler stage and people are starting to pay more attention to the underlying blockchain technology. The CryptoNouveau event was a great place to meet the top thinkers in the blockchain space and learn where they think the technology is going next.

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Regulation

Central Bank of Russia Expects Crypto Draft Bill to Be Adopted in Spring 2019

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The central bank of Russia believes that the draft bill on crypto regulation is prepared enough to be adopted in the spring of 2019, local news agency TASS reports on May 22.

Olga Skorobogatova, first deputy governor of the Russian central bank, has stated that the bank expects the crypto bill, “On Digital Financial Assets” (DFA), to be adopted during the spring session in 2019 in accordance with the order of the country’s president, Vladimir Putin.

Speaking at a recent meeting of the Parliament, Skorobogatova argued that the DFA, as well as a draft law on crowdfunding and other crypto-related bills, are at a “sufficiently high degree of preparedness” to be adopted during the session.

The official has also emphasized that all those draft laws are “crucial for the country and will allow for the implementation of new projects.” Conversely, Russian prime minister and former president Dmitry Medvedev had…



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Bitcoin

Goldman-Sachs Backed Circle Blames ‘Restrictive’ US Laws for Layoffs

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Bitcoin and crypto are rising, but Goldman Sachs-backed Circle laid off 10 percent of its workforce blaming a ‘restrictive’ regulatory climate. But is that just a smokescreen to mask Circle’s dwindling user base?


SEC Bullish on Bitcoin, Bearish on Alts

OK, so we may not call the SEC exactly ‘bullish’ on Bitcoin. In fact, quietly cautious at best, downright suspicious at worst.

But at least the regulatory body has it clear that Bitcoin is not a security. It’s even considering Bitcoin ETF proposals, albeit at a glacially slow pace.

The same cannot be said for the majority of ICOs. While there are rumors of change on the horizon, it appears that for now, they…



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