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Fundstrat’s Tom Lee Sticks with His Bullish Bitcoin Prediction Despite Trump Delaying China Tariffs

  • Alex Dovbnya
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    The prescient Bitcoin bull believes that the crypto king will eventually reach a new ATH    

Fundstrat’s Tom Lee Sticks with His Bullish Bitcoin Prediction Despite Trump Delaying China Tariffs
Cover image via news.u.today

The Bitcoin price has plunged below the $11,000 level, which came on the heels of the Trump administration delaying tariffs on Chinese goods until December.

On top of that, China's Ministry of Commerce announced that it would restart trade talks with the US in the nearest future.

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Given that the worsening relations between the two economic superpowers served as an impetus, some had a knee-jerk reaction to call off Bitcoin’s bull run. However, Fundstrat’s boss Tom Lee remains as bullish as ever on BTC.

As reported by U.Today, Lee claimed that Bitcoin would reach touch $20,000 by the end of 2019.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Nationwide Blockchain of China Finally Preparing for Launch

  •  Denis Sinyavskiy
    📰 News

    China launching nationwide blockchain service in beta mode until March 2020. It must push forward digital economy and smart cities

Nationwide Blockchain of China Finally Preparing for Launch
Cover image via www.123rf.com

China continues to take steps toward the digital economy and smart cities by officially releasing a nationwide blockchain service network, XINHUANET says.

Blockchain service network expectations

UnionPay, State Information Center (SIC), China Mobile and three other organizations worked on a system that will help China lead the blockchain technology market. Blockchain beta testing has already been announced and will last until March 2020, and all content and services will be available for free till that date.

BSN is expected to accelerate the development of digital technology and smart cities, as well as foster the development of new technology and industries.

What about CBDC?

Earlier, U.Today reported, that China has come close to creating its own cryptocurrency and may even launch it this fall, but then there was information that the national digital currency will appear later.

But China will not become the first country to introduce a national cryptocurrency. The Kingdom of Bhutan has already done it this month, as we already reported.

So, what do you think? Does the launch of China's national blockchain mean that the country will become a leader? Write what you think about this in the comments section!

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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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