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Bitcoin Price Prediction: BTC Holds In A Range, Is It Time To Buy The Dip?

Bitcoin price breakouts from a minor short term double-bottom pattern but fails to rise above $10,400 resistance. Bitcoin could be on its way to $12,000 as long as the range resistance at $10,600 is broken. Bitcoin price has been trading in a narrow range between the recently established support at $9,900 and the resistance at

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  • Bitcoin price breakouts from a minor short term double-bottom pattern but fails to rise above $10,400 resistance.
  • Bitcoin could be on its way to $12,000 as long as the range resistance at $10,600 is broken.

Bitcoin price has been trading in a narrow range between the recently established support at $9,900 and the resistance at $10,600. The drab trading is taking place after last week’s sharp plunge from highs above $12,000. The losses were not unique to the flagship cryptocurrency because both major and minor cryptoassets lost key positions and explored lower levels.

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BTC/USD 1-hour chart

BTC/USD price chart
BTC/USD price chart by Tradingview

At the time of writing, Bitcoin is trading at $10,336. The shallow upswing is taking place after a subtle double-bottom pattern in the hourly range. The initial bottom was precisely formed during BTC’s breakdown to levels under $10,000 where it found support at $9,900. The second bottom was formed on September 7, as BTC explored the levels under $10,000 again. The recovery from the pattern appears to be losing momentum in spite of the pattern.

Bitcoin Technical Analysis

Bitcoin is facing acute resistance at $10,400, $10,500 and $10,600. Most analysts believe that once these three hurdles are behind the flagship cryptocurrency, the price would easily elevate to areas higher than $11,000.

Meanwhile, the Relative Strength Index (RSI) in the daily range seems to be nurturing an uptrend following a reversal from the support at 30. As long as the RSI’s upward movement stays intact, Bitcoin bulls will continue to throw jabs at the above-mentioned resistance zones.

On the downside, support is envisaged at $10,200, $10,000 and $9,900. In addition, the 100 Simple Moving Average (SMA) at $9,689.68 is in line to prevent further losses that may be eyeing $9,000, in case of a reversal from the current price level.

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BTC/USD daily chart

BTC/USD price chart
BTC/USD price chart by Tradingview

The formation of a bearish pennant pattern warns investors that it might not be the right time to buy the deep hence a call for caution. The longer Bitcoin stays under $10,600, the stronger the bears get. If the pattern’s support is shattered, BTC could be on a path to $8,000.

Bitcoin Intraday Levels

Spot rate: $10, 316

Relative change: -45.24

Percentage change: 0.56%

Trend: Bearish bias

Volatility: Low

Read more: Bitfinex Files Motion to Dismiss Allegations for Bitcoin Manipulation, Cites Lack of Proof

Bitcoin Price Prediction: BTC Holds In A Range, Is It Time To Buy The Dip?
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Bitcoin Price Prediction: BTC Holds In A Range, Is It Time To Buy The Dip?
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Bitcoin price breakouts from a minor short term double-bottom pattern but fails to rise above $10,400 resistance. Bitcoin could be on its way to $12,000 as long as the range resistance at $10,600 is broken.
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Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: John Isige
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Source: https://coingape.com/74022-2/

Blockchain

MicroStrategy Completes Another $1 Billion Bitcoin Buy

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MicroStrategy, the company, spearheaded by one of Bitcoin’s biggest proponents, MicroStrategy, has just confirmed the purchase of another 19,452 BTC.

  • In an announcement published today, February 24th, MicroStrategy, the largest independent publicly-traded business intelligence company, has revealed the purchase of 19,452 bitcoins.
  • The company paid approximately $1,026 billion in cash for the BTC.
  • The average price at which MicroStrategy executed the trades is approximately $52,765 per coin, which includes the expenses and fees.
  • With this, the company now sits on approximately 90,531 bitcoins, currently worth just shy of $4.6 billion.
  • This equates to 0.43% of the total supply of Bitcoin that will ever be in circulation.

Speaking on the matter, Saylor said:

The Company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin. […] The company now holds over 90,000 bitcoins, reaffirming our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value. We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time, subject to market conditions, issue debt or equity securities in capital raising transactions with the objective of using the proceeds to purchase additional bitcoin.

  • The move was somewhat expected. As CryptoPotato reported earlier in February, the company revealed its price to offer convertible senior notes to raise money and buy Bitcoin.
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Source: https://cryptopotato.com/microstrategy-completes-another-1-billion-bitcoin-buy/

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Blockchain

Simplex Partners With Opera to Bring In-Browser Crypto Purchases

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Users of the popular browser Opera will have the option to purchase cryptocurrencies directly from it following a partnership with the crypto-fiat processor Simplex. The integration will also enable users to set up personal cryptocurrency wallets to store the newly-purchased digital assets.

Opera Users To Buy Crypto From The Browser

Founded in 2014, Simplex describes itself as a company that has “been changing the status quo of crypto on/off ramps.” In a press release shared with CryptoPotato, the Israel-based firm announced its latest endeavor to bring cryptocurrencies to the masses.

Simplex has partnered with the multi-platform web browser Opera. As a result, Opera users will “be able to buy and sell cryptocurrency instantly within the privacy-centric browser.”

The statement reads that this strategic partnership comes amid times when the retail investors are looking for an easy way to enter the cryptocurrency space as the bull run has garnered their attention once more.

As such, being able to create their own digital asset wallets without having to leave the browser that enables them to buy, sell, or simply HODL their coins would enhance mass adoption, the firm said.

“Now Opera users can access Simplex’s extensive range of supported cryptocurrencies from within the browser wallet itself, and move between fiat and cryptocurrency with ease, enjoying competitive rates.” – reads the announcement.

Back in late 2018, Opera became the first web3 and blockchain-ready browser upon launching web3 support, dApp explorer, and its native crypto wallet for Android. Shortly after, Opera made the same upgrades for its desktop and iOS versions. The cryptocurrency wallet currently supports Bitcoin (BTC), Ethereum (ETH), and Tron (TRX).

A Member of the Visa Network

As recently reported, Simplex reached another milestone as it became a principal member of Visa in Europe. Consequently, the EU-licensed financial institution can now offer fiat to crypto solutions to users wishing to utilize digital assets for regular payments.

Following the partnership with Opera, the firm touched upon its relationship with Visa as both collaborations could help with its core mission to “democratize cryptocurrencies and pioneer new and innovative capabilities for the entire fiat to the crypto ecosystem.”

It’s also worth noting that Opera has now joined another browser in providing instant cryptocurrency purchases. Binance partnered with the Brave Browser last year, but it enabled only users of the popular exchange to interact with digital assets.

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Source: https://cryptopotato.com/simplex-partners-with-opera-to-bring-in-browser-crypto-purchases/

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Blockchain

Student Coin Tokensale Now Live Till April 30

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[PRESS RELEASE – Please Read Disclaimer]

After 12 years of existence, it was about time for crypto to be recognized as it deserves. Step by step, blockchain technology made its way to public institutions after it conquered vendors and business enthusiasts.

With all the issues that came with bank services, no wonder people are so hyped over the idea of crypto payments – which provide users with data and financial security.

Tokenization got its spotlight due to all the solutions they offer in terms of fair payments, loans, and votes.

And to bring the crypto area one step forward, a dedicated team developed one of the most intriguing utility tokens that will forever change the way we see crypto – the STC token, available on its dedicated ICO since February 1st.

What is an STC token?

STC is the core utility token of the Student Coin blockchain project – that makes possible the creation of personalized tokens without strong technical knowledge.

Having an account on the platform allows you to create:

  • Personal tokens – unique assets tied to a single account;
  • Startup tokens – assets that help you take a step forward to your dreams;
  • Corporate tokens – unique assets dedicated to a single company;
  • DeFi tokens – assets that allow you to perform various bank activities without the intervention of third parties;
  • NFT Tokens – transferable tokens that make possible the switch between platforms.

All these tokens are valued based on the STC Token, and they can be used for exchanges, trades, even crowdfunds.

Why is the STC token special?

The thing that makes the STC token superior to other tokens is its focus on the most important people in the world’s economy – students.

They are the next generation of employees, which will mark the success of current and future companies. To give people the chance to better education, there’s a need to make university programs more accessible.

But it’s not that easy. Reducing tuition fees will lead to a lower budget to afford qualitative researchers, teachers, programs, international collaborations, and so on.

Until now, the solution was bank loans. However, with our unpredictable economy, people lost trust in bank services. And who can blame them?

Therefore, Student Coin’s team came with a solution that decentralizes student loans – crowdfunding with personal tokens.

How does it work?

The future student creates its personal token. This token is put on the Student Coin market. The STC holders purchase the tokens until the student receives the money needed for tuition. After the student graduates and finds a job, a part of his salary will be locked to pay the loan. The STC holders receive a cyclical profit payment for their involvement.

This project is sustained by over 500 top universities worldwide, including Harvard University, the University of Manchester, and the University of Copenhagen.

A simple way for students to get the funds they need to achieve their dreams. At least, that’s the main focus, but this process can also be done for visionary entrepreneurs.

And that’s not the only reason why Student Coin studs out. Holding STC tokens give users the chance to vote in the project’s development and even sign petitions if they’re needed. It’s an entire ecosystem created to give people what they need and raise the utility of cryptocurrencies.

How can you buy STC tokens?

To get your STC tokens as soon as possible, make sure you don’t miss the Student Coin Launchpad ICO, available until April 30th.

Although it started just 23 days ago, the team already raised $2 million worth of STC tokens and completed 35 phases.

Every phase finished till now had a hard cap of 100K USD, and the price increased by 0.0002 USD with every reloads.

Joining the ICO doesn’t just give you access to these tokens in advance, but it also gives you additional assets.

If you recommend the ICO to your friends and send them a unique referral link, you can earn 20% of ETH invested by every friend of yours, alongside 30% of their STC purchases.

Your friends also get an additional 5% of STC purchased.

Who is behind Student Coin?

Student coin is backed by a dedicated team of 44 people from 12 different countries, ready to expand crypto usability and create solutions for the world’s needs. Among them, you can find the former CTO of IBM for Europe, for example, or the president of the Harvard University Club of Poland.

By the end of 2021, the team plans to develop and implement STC Exchange, STC Terminal, and even an STC App, alongside listing the token on major crypto exchanges.

So, if their innovative ideas caught your attention, join the ICO and make sure to follow them on social media to be up to date with their features.

Instagram: https://www.instagram.com/student.coin.world/

LinkedIn: https://www.linkedin.com/company/student-coin-worldwide/

Twitter: https://twitter.com/studentcoinorg

Facebook: https://www.facebook.com/studentcoin.org

Telegram: https://t.me/studentcoin

Reddit: https://www.reddit.com/r/Studentcoin/

Discord: https://discord.gg/Nx65dMZcMt

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Source: https://cryptopotato.com/student-coin-tokensale-now-live-till-april-30/

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