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BTC Consolidates Above $8,000


MZN_MNVR

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Posted

The price of Bitcoin Core (BTC) has gained roughly 30% in the last two weeks following the strongest fortnight of trading since April. Ten of the last thirteen days have produced red candles, with prices rising from approximately $6,200 to $8,200 as of this writing. The last two weeks of trading have also produced a notable spike in daily volume, with the 24th of July producing the highest trade volume for BTC/USD on Bitfinex since the 25th of April.

 

With the markets appearing to have established an immediate bull channel, many analysts are expecting that FOMO leading up to the United States Securities and Exchange Commission’s determinations regarding Chicago Board Options Exchange (CBOE)’s proposed bitcoin exchange-traded fund may drive the BTC markets to test resistance at approximately $10,000. Should the immediate trend fail, the markets will likely drop to retest the local support areas of either $7,500 or $6,800.

BTC currently has a market capitalization of $142 billion and a market dominance of nearly 47%.

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Posted

Now it's not, oh well, was fun.  Of course, it can always pop back up.  The good news is that it often drops before futures expiration which is Friday in the USA.  So maybe no big deal.  Good Luck!

Posted

Hopefully it rises well and beyond $8,000, and if it does hopefully the fees don't go absolutely crazy like last time, but the blockchain is more advanced and stable now so hopefully it doesn't :)

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