Bitcoin (BTC) Capped, US SEC Delay, It’s now A Matter Of WHEN

Bitcoin (BTC) prices up but in tight ranges
The US SEC delays their decision on Bitwise Bitcoin ETF

Crypto Industry Celebrates Annual Bitcoin Pizza Day
Wednesday May 22, 2019

Today marks the nine-year anniversary of the first ever reported transaction using Bitcoin to make a purchase. A Florida-based, early crypto supporter spent 10,000 BTC on two pizzas, making history through a mundane meal...

The post Crypto Industry Celebrates Annual Bitcoin Pizza Day appeared first on 12bitplay - Bitcoin Play.

After their decision on Bitwise Bitcoin ETF, all eyes are on the US SEC and whether they will finally approve any of the many applications. Even so, buyers are in charge with prices soaring 70 percent after breaching $4,500 resistance, now support.
Bitcoin Price Analysis
Fundamentals
Over and above Satoshi’s objective of creating a global payment platform, Bitcoin is disruptive. The technology underpinning its success is likely to cause a paradigm shift accommodating fluid projects. Thus far, there is resistance—but for good reasons.
Bitcoin and all blockchain applications are global and mostly unregulated. That is why there is reluctance from institutional grade investors to sink funds into a sphere where asset price manipulation is so rampant that Jay Clayton of the SEC said the agency wouldn’t approve any crypto derivatives until there is proper monitoring in place.
As agencies and start-ups, lay down rails in compliance, Bitcoin benefits are seeping through barriers. While all eyes are on the SEC and whether they will give the green lights, other jurisdictions are reaping benefits from correctly classifying and assuring investors through capital tax gains. Malta is the lead, and Japan is setting the foundation while there are rumors that Russia is amassing Bitcoin and Gold as a cushion in case there is another sanction.
Meanwhile, Bakkt, Fidelity and traditional brokers are offering avenues for investment, meaning the future is all but bright for early entrants.
Candlestick Arrangement

Here’s Why Gold Bull Peter Schiff is Blessing in Disguise for Bitcoin
Wednesday May 22, 2019

The economic atmosphere in the United States has changed drastically over the last six months. Ahead of last year’s close, the stock market tanked, consumer spending experienced a sharp decline, and prominent economists predicted...

The post Here’s Why Gold Bull Peter Schiff is Blessing in Disguise for Bitcoin appeared first on 12bitplay - Bitcoin Play.

Price wise and Bitcoin (BTC) buyers are slowing down. After six weeks of stellar performance that saw BTC prices soar 70 percent—or more once bulls tore $4,500, the foundation is firm. Presently, BTC prices are under sell pressure. With yesterday’s long upper wick hinting of liquidation in lower time frames, today’s trade range is inside May-14 highs despite a near perpendicular expansion.
All the same, there is a high likelihood that buyers will forge forward. However, if there is a retracement from spot levels in a correction of May-14 over-valuation—a whole bull bar is above the upper BB, then prices would likely slide to $7,500 in a retest phase.
Nonetheless, from candlestick arrangement, buyers are firm and risk off traders should ramp up on dips, albeit with stops at around $7,600.
Technical Indicator
In light of this slow down and expectation of a retracement, our anchor bar is May-11’s. The candlestick is wide-ranging and with above average volumes—47k. For trend continuation, any breach of $8,500 or drop below $7,500 must be with high participation. These volumes must exceed averages of 24k and 47k confirming or nullifying our trade position.
Chart courtesy of Trading View
The post Bitcoin (BTC) Capped, US SEC Delay, It’s now A Matter Of WHEN appeared first on NewsBTC.

Analyst: Crypto Markets May Be Gearing Up for Massive Surge as Bitcoin Continues Climbing
Sunday May 19, 2019

Bitcoin has been on the up-and-up for several weeks and is now once again nearing the $8,000 region despite facing increased selling pressure earlier this week. Despite BTC’s upwards momentum, the aggregated crypto markets...

The post Analyst: Crypto Markets May Be Gearing Up for Massive Surge as Bitcoin Continues Climbing appeared first on 12bitplay - Bitcoin Play.

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