Bitcoins Bulls Positive – Bitcoin adoption is rising year to date, nearly $2 trillion dollars worth were moved over the platform. That’s a massive 61% increase from 2017 but a slowdown from 2016 when use rose by 96%. On the time of this report, market is experiencing one of the huge drawn down in the coin’s history. Global Exchange.
Price is pretty stable at spot prices. Though a bounce is expected and closes above $4700 as bulls build on last week encouraging gains and rejection of lower lows, it would be ideal if buyers maintain price above $4000 and more above $3700. Global exchange. Drops below Nov 2018 lows could see till $3000 crashing miners profits. globalxchange.
BTC/USD is trending within a bear breakout pattern. globalexchange. While last week’s rejection of lower lows could provide the impetus for BTC to rally above $4700 there are risks of BTC dropping our $1000 range at $3700 as it is the path of least resistance.
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