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Bitcoin Price Possible Heading for $6,000 Would Still ‘Make Bullish Structure Macrowise”, Analyst Says

  • Yuri Molchan
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    A crypto trader and analyst believes that even should Bitcoin and Ethereum start descending to lower psychological levels, the overall market picture will remain bullish

Bitcoin Price Possible Heading for $6,000 Would Still ‘Make Bullish Structure Macrowise”, Analyst Says
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On Friday, a Dutch trader and analyst @CryptoMichNL tweeted a positive forecast for the cryptocurrency market.

He believes that the market will stay bullish macrowise even if the Bitcoin price extends its correction down to the $6,000-$5,500 level and Ethereum would do the same, heading for $140.

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However, the expert says, he is in doubt as to this turn of events. The upcoming Bitcoin halving in May 2020 and “a ton of other events” will prevent the bears from getting the market under control.

 

What do you think of the analyst's opinion? Is the Bitcoin price going to keep sliding or will it reverse and begin rising? Feel free to share with us in the comments to the article.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
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Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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