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Bitcoin breaks out of wedge.

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Bitcoin has broken out of the wedge formation that took so long to complete. The evidences in front of us is indicative of the bull market finally kicking off. But anything can come to pass in the coming weeks.


Bitfinex are playing this process from both ends of the equation. Print Tether, buy Bitcoin , drive the price up, wait to see how the market responds with orders, and then either liquidate massive amounts of short positions, or benefit from a majority of long positions that will convert the transitioning of the massive amounts of Tether into USD, thus making it appear that the Tether is backed by the dollar volume-per-volume.


But the fact remains, BTC broke out of that long wedge formation with a purpose, and the altcoins have responded in turn. It’s pulling up the entire market, and we’ve seen gains in the alts market we haven’t seen since late 2017/early 2018. So for now, we could play the cards that have been dealt, and jump in head-first with the hopes of leveraging this robust alt season.


One thing is for sure, the DeFi market is giving the best and most promising outlook for the Ethereum blockchain, as evidenced by ETH leading the way for the breakout. It’s definitely time to start thinking about the future of ETH, as 2.0 looms over the horizon.


While it looks like BTC and ETH are due for a normal mid-stream correction, this certainly doesn’t look like the end of a fake-out and continuance of the overall bearish trend .

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Crypto

Bullish momentum for Bitcoin.

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Bitcoin price gained bullish momentum above the USD 52,500 resistance level. BTC even cleared the USD 53,251 resistance and it is currently  showing positive signs. If the bulls remain in action, there could be a steady rise towards USD 55,100.

Similarly, most major altcoins are extending gains. ETH gained traction and it even tested the USD 2,510 zone. XRP/USD broke the USD 1.157 resistance and it might continue higher

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Crypto

XRP up 100% in a week.

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As organized pumping and dumping efforts continue to spread, the cost of XRP has multiplied in the previous two days, while other as of late siphoned coins have just smashed from their new highs in twofold digits.

On Saturday, XRP was exchanging at USD 0.281 before the convention strengthened and pushed the cost to USD 0.59 by Monday morning . A the hour of composing, the cost is up by 42% in a day and 113% in seven days. It bounced by 145% in a month and 144% in a year.

Additionally, XRP is back as the third biggest cryptoasset by market capitalization, after it slammed because of an administrative crackdown in the US.

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Crypto

Correction is the order of the day for cryptos.

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Bitcoin price is correcting gains from $ 40,500. The previous breakout zone near $ 36,550 could act as a strong support. As long as BTC is above $ 36,550, it might start a fresh increase towards the $ 40,500 level.

Many altcoins climbed over 8%, including VGX, IOST, DOT, CRV, BTCB, ATOM, HED, NEXO, LINK, and ABBC. Out of these, IOST started a strong increase after it broke the $ 0.021 resistance.

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