Bitcoin (BTC) Surges 5% in Minutes, Rallies Past $10,500 in Flash Pump

Volatility is back. In the past hour, Bitcoin (BTC) bulls have returned in full force, pushing the cryptocurrency from $10,100 to $10,600 in a matter of minutes.
As of the time of writing this, the cryptocurrency is up 5%, trading around $10,550. This unexpected move comes to the upside shortly after the mediocre weekly candle close.
This move comes after the Yuan started to fall against the U.S. Dollar to 7.10, implying that there may be some correlation between a devaluation in the Chinese currency and an uptick in the value of BTC.

No, Chinese New Year Won’t Trigger a Bitcoin Pullback: Historical Data Shows
Monday January 20, 2020

Chinese New Year is just around the corner and people are once again debating its possible impact on Bitcoin price. A popular theory is Chinese investors cash out holdings before the holiday, creating additional...

The post No, Chinese New Year Won’t Trigger a Bitcoin Pullback: Historical Data Shows appeared first on 12bitplay - Bitcoin Play.

RMB protecc pic.twitter.com/HPYB6YWPRd
— The Crypto Dog (@TheCryptoDog) August 26, 2019

OKEx’ Lennix Lai Makes Presence Felt at Davos, Roots for 100% Financial Inclusion with Blockchain
Thursday January 23, 2020

The changing landscape of the global economy due to the technological progress in the cryptocurrency and blockchain sector is not lost on anybody. As the countries of this world look at ways to embrace...

The post OKEx’ Lennix Lai Makes Presence Felt at Davos, Roots for 100% Financial Inclusion with Blockchain appeared first on 12bitplay - Bitcoin Play.

Altcoins, unfortunately, were hurt by Bitcoin’s spike. This spike brought Bitcoin dominance up by 0.5%, which, in a market worth hundreds of billions, isn’t a move that should be ignored.
Bitcoin Surges Amid Bearish Predictions
Interestingly, nobody predicted this move. In fact, most analysts have been leaning bearish, claiming that the cryptocurrency market is ready to unravel by another 30% to 40% before heading to fresh all-time highs.
As reported by NewsBTC, one analyst was recently eyeing a November 2018-esque drop that brought BTC down by 50%. Such a move seems to have been invalidated by this pump, though.
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The post Bitcoin (BTC) Surges 5% in Minutes, Rallies Past $10,500 in Flash Pump appeared first on NewsBTC.

Why the Small US Bitcoin Mining Industry is a National Security Risk
Tuesday January 21, 2020

For almost its entire existence, Bitcoin mining has been dominated by Chinese companies. Most of the world’s largest mining pools, chip manufacturers, and the ASIC operators themselves call the country home. Wanting to see...

The post Why the Small US Bitcoin Mining Industry is a National Security Risk appeared first on 12bitplay - Bitcoin Play.

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