Reading: Bitcoin Price Analysis: Is this a Bullish Reversal or the Puppet Master at… Eustace Cryptus | Jul 19, 2018 | 22:00 What a rollercoaster ride!
Earlier this week Financial News London reported that the world’s largest ETF provider, BlackRock, had cast its gaze to Bitcoin and other cryptocurrencies as potential investments but before the news even had the opportunity to impact cryptocurrency prices, BlackRock CEO, Larry Fink came out, denying the news and labeling it as hogwash. Then later in the day, Coinbase retracted their supposed SEC approval announcement, claiming to have jumped the gun.
Currently, it’s hard to determine exactly what’s behind BTCs current run but 2018 has been chock full of positive news regarding the arrival of institutional investors and chartwise, bitcoin appears ready to jump off. Coinbase could eventually receive approval to list digital assets that are currently considered securities.
Japan’s SBI Holdings is set to publically launch its VCTrade Crypto exchange and IBM has furthered its partnership with Stellar Lumens in the development of a USD backed stablecoin that operates on the Stellar blockchain. Generally, it appears that the euphoria cryptocurrency investors enjoyed during the 2017 bull run is building as more and more exciting cryptocurrency news continues to show that the platform institutional investors have been waiting for is nearly complete.
Yesterday BTC $7459.38 +0.05% blasted above the 20 and 50-day MA and currently hovers right below the 100-day MA as it appears set to have a go at the $7,600 resistance followed by $8,000. After yesterday’s 10% gain BTC nearly crossed $7,600 before taking a short water break as volume gradually tapered off and BTC briefly retracted a bit under $7,300. Read more from bitcoinist.com…
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