Wednesday, February 14, 2018

Bitcoin breaks out of recent range and moving up towards $10,000 per coin

Ever since the Chicago Mercantile Exchange began implementation of a Futures contract for Bitcoin, the price of the cryptocurrency has move than halved.  Yet perhaps even more interesting is how the price has been pushed down into certain trading 'ranges', which is indicative of Wall Street manipulation to protect their derivative interests.

However on Feb. 14, Bitcoin may be looking to break out of its most recent range of between $7500 - $9000 as a combination of less rhetoric on regulations, a falling dollar, and higher inflation could provide the catalyst for a quick move back to $10,000.
Cryptocurrencies are recording their biggest gains in weeks after the president of the European Central Bank shrugged off talk of a ban. 
Bitcoin was up more than 7% in early trading Wednesday, gaining over $400 and adding $7.7 billion in market capitalization. In the past week, Bitcoin’s value has bounced back from recent turbulence, adding over $1,100 in value and over $19 billion in market cap. 
While European banking officials warned consumers about the highly volatile nature of Bitcoin, Ethereum, Ripple and other cryptocurrencies, Mario Draghi, president of the European Central Bank, said in a video response to user submitted questions that no ban or regulation was forthcoming. 
‘Many of you posted questions about whether the ECB is going to ban Bitcoins or it’s going to regulate Bitcoins,” he said. ‘I have to say it’s not the ECB’s responsibility to do that.’ - Fortune


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