The repeated retest of a support level within a short interval tends to weaken it. If the price breaks below $49.78, the DOT/USDT pair could drop to the 20-day EMA ($48.09). This is an important support for the bulls to defend.
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But how high will Bitcoin go? Bitcoin’s past may provide some clues, according to Kiana Danial, author of “Cryptocurrency Investing for Dummies.”
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Brian Brooks comes onboard for the crypto unicorn as they prepare to go public in the next 12 months in what would be Europe’s biggest cryptocurrency valuation. The firm is also planning to expand its mining business.
SILVER SPRING, Md. (AP) — The chairman of the Securities and Exchange Commission said that investors need more protection in the cryptocurrency market, which he said is “rife with fraud, scams and abuse."
BERLIN, El Salvador (AP) — At a geothermal power plant near El Salvador’s Tecapa volcano, 300 computers whir inside a trailer as they make complex mathematical calculations day and night verifying transactions for the cryptocurrency bitcoin.
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Brooks said he was “highly confident” his tenure would last longer at Bitfury, telling the Financial Times he expected to “gel better” with Vavilov than his former employer. Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised. Avalanche Price Analysis: AVAX retests previous high around $81 as support, ready to continue higher? Bitcoin Price Analysis: BTC retests $63,000 as support, strong higher low established?
From a technical perspective, Bitcoin’s price action appears to be contained within an ascending parallel channel that developed since Oct. 4. Every time BTC has risen to this technical formation’s upper boundary since then, it has been rejected and retraced to the pattern’s lower edge. From this point, it tends to rebound, which is consistent with the characteristics of a parallel channel.
That lack of widespread adoption, plus crypto’s volatility, limits its use as a currency, says Roger Aliaga-Díaz, principal and senior economist with Vanguard Investment Strategy Group.
While fluctuations are expected, Noble says this swing is a bit out of the ordinary. “I thought the market was maturing and these things would be less frequent and severe. Boy was I wrong,” he says.
View live prices on seven cryptocurrency markets, including bitcoin. Select your market to view real-time prices, its chart and more.
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Meanwhile, apart from regulatory attention, Binance is likely to get sued over a platform outage during a price crash on May 19. A Swiss crypto fund is financing litigation and a UK academic has made various allegations based on her research.
That lack of widespread adoption, plus crypto’s volatility, limits its use as a currency, says Roger Aliaga-Díaz, principal and senior economist with Vanguard Investment Strategy Group.
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