Bitcoin Price Analysis: BTC Liquidity, Pennsylvania, Texas Clarity

Bitcoin Price likely to bounce above $3,800
Pennsylvania DoBS clarifies that crypto exchanges don’t need MTA licenses to operate
Average transactional volumes expected to rise in the short-term

Ethereum (ETH) Rip & Dip Scenario Was Total Disaster
Thursday December 05, 2019

Ethereum rallied sharply above the $150 resistance, but failed near $152 against the US Dollar. The price is trimming gains and it is back to pre-rally levels near the $144 support. There is a...

The post Ethereum (ETH) Rip & Dip Scenario Was Total Disaster appeared first on 12bitplay - Bitcoin Play.

After yesterday’s higher highs, Bitcoin is poised to extend their gains today. Gains are low but up from yesterday’s lows meaning our previous BTC/USD trade plan is valid. If our projections are accurate, then we expect BTC prices to retest $4,500 and $5,000.
Bitcoin Price Analysis
Fundamentals
There is a changing wave across the US. First, it was Texas, then Wyoming and now The Pennsylvania Department of Banking and Securities (“DoBS”) is responding to inquiries on whether the Money Transmitter Act (MTA) and more specifically, if the Money Transmission Business Licensing Law, applies for entities keen on delving into the crypto exchange business.
While answering “multiple inquiries,” the DoBS started by defining what money is while remaining categorical that under the MTA, Bitcoin is not money. They further expounded that businesses must comply with MTA requirements whenever fiat currency is involved.
Virtual exchanges, they note, are unique because they are facilitators and are don’t in any way handle fiat currency—classified as money under the MTA. This is so because exchanges only permit buying and selling of assets. As a result, they are not money transmitters and need not apply for Money Transmitter Business license to operate.
Candlestick Arrangements

Search Trends Indicate Interest in Bitcoin Halving Building
Friday December 06, 2019

The crypto scene is pretty depressed in terms of overall interest at the moment. Markets have plummeted 50% in the latter half of this year and general attention appears to be waning. Google search...

The post Search Trends Indicate Interest in Bitcoin Halving Building appeared first on 12bitplay - Bitcoin Play.

The current trajectory is upwards. After yesterday’s bull pin bar and a spike in participation levels, traders expect prices to surge. Nonetheless, today’s price action could trend in limited ranges after yesterday’s bounce off $3,500.
All these are projections based on hard figures. Moreover, from the chart, the rejection of lower lows from off a critical Fibonacci level mean there is underlying demand. Therefore, prices could snap back to trend and rally towards $4,500.
At the moment though, traders should exercise patience and note that even in the midst of this optimism, BTC is trending in a broader bear market and this short-term uptrend prints within a bear breakout pattern where ideal resistance or retest lies at $5,800–$6,000 level.
Technical Indicators
Transaction volumes are tight and even with yesterday’s improvement—18k versus 13k, the path ahead is tough for bulls. To repeat our stand, and lift off above $3,800 should be via high transaction volumes preferably above those behind Jan 10 losses at 35k. Such high-volume break and close above would shift momentum from bearish to bullish as price action aligns with Dec 17 gains.
The post Bitcoin Price Analysis: BTC Liquidity, Pennsylvania, Texas Clarity appeared first on NewsBTC.

5 Crypto Projects That Crushed It in 2019
Tuesday December 03, 2019

As 2019 nears its apex, it’s time to take a look back at the projects that crushed it this year. Crypto startups that shrugged off bearish market conditions, community apathy and industry in-fighting, and...

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