Price

There is a 75 percent possibility that Bitcoin breaks bullish out of its ongoing consolidation pattern. According to independent analyst Vince Prince, the benchmark cryptocurrency is making “marginal” upside movements in an Ascending Channel structure. That has left it with two possible outcomes. First, Bitcoin consolidates inside the Channel while breaking below the “Ascending Trendline”;
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An increasing amount of Bitcoin is being accumulated by institutions. This much was made clear on Tuesday, when Stone Ridge Asset Management revealed to Forbes that it had picked up 10,000 BTC, representing one percent of its assets under management. Investors think that further institutional adoption of the cryptocurrency could result in prices going parabolic.
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Bitcoin has dropped slightly since establishing highs of $11,730 on Monday. The leading cryptocurrency currently trades for just over $11,400. Bitcoin is expected to see some volatility as announcements are expected from China about blockchain or its digital currency. From a technical standpoint, BTC is expected to retrace in the coming days as the bullish
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