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Bitcoin’s Drop Has Done Little in Shaking Its Bullish Momentum

Bitcoin has a crucial task ahead to determine whether its record-setting bull run in 2020 is a repeat of 2017’s pump-and-dump scenario or its first step towards a long-term ascent. In the last seven days, the benchmark cryptocurrency signaled the former. Its price took a beating, falling more than 30 percent from its yearly high…

Hopes for Bitcoin Rally as Americans Prepare for Second Coronavirus Stimulus

Steven Mnuchin was one of the biggest catalysts behind the Bitcoin rebound last week. The US Treasury Secretary, known for having an ill-opinion about the cryptocurrency, sat alongside his knee-shaking buddy, the Federal Reserve Chairman Jerome Powell, before the Senate Banking Committee on Thursday. He testified about the coronavirus’s impact on the US economy and…

No $20,000 Bitcoin Until US Presidential Election 2020

For months, the Bitcoin price rose this year – regardless of a fast-spreading pandemic, the resulting economic turmoil, and poor evaluations by the mainstream media houses. Then, in September, the cryptocurrency came crashing down. It was March 2020 all over again, minus severity. Bitcoin established a year-to-date high near $12,500, started correcting lower on profit-securing…

Bitcoin Stands Tall Ahead of FOMC Meeting This Week

On Sunday, Bitcoin experienced a brief pump-and-dump. The BTC/USD exchange rate was able to break above $10,400, a resistance that capped the pair’s upside outlook for almost two weeks. Bitcoin eventually formed a session top above $10,500 only to find later that the area was full of profit-taking traders. A pullback ensued and the cryptocurrency…

Beware of What Comes after a Strong Bitcoin Rally

Bitcoin fell below $10,000 this weekend even as a majority of crypto warriors on Twitter were expecting a supersonic price boom towards $13,000, $14,000, $15,000, $20,000, and beyond. That was obvious for most of us. Bitcoin had every ingredient to dish out a delicious bull run. A central bank that committed to raise inflation rates…