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November 2019

Bitcoin Price Soars 7% as Bulls Find Support at Lower Levels

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Bitcoin

Bitcoin

Over the course of the first half of the year, the cryptocurrency market enjoyed an amazing run, and much of it was driven by Bitcoin (BTC), which ended up with hefty gains at the end of each of those months.

However, the months of July and August proved to be an extremely turbulent period for BTC as it lost momentum due to multiple factors and hovered within a lower range. That being said, the cryptocurrency seems to have made a grand comeback in September, and the bulls are ruling the roost, for the time being at least.

Bitcoin Suddenly Gains Momentum

Over the course of the weekend, there was a bit of a tug of war between the bears and the bulls, but as things stand, the latter has won the day.

The past few months, the world’s biggest cryptocurrency has enjoyed periodic bursts, but then it would give up its gains and hence, it is necessary to wait for some time before giving a verdict on this latest move. During trading on Monday, the price of Bitcoin jumped by as much as 7.30% as the bulls took control and BTC hit $10,435 at one point.

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Only last week, the cryptocurrency hit $9,300, which was its bottom for the week and the current gains reflect a 12% rise from those lows.

Although it is true that the bulls scored a decisive victory during trading on Monday, experts believe that the current move in the price of BTC could also be related to the dynamics of the United States dollar and the Chinese Yuan. Many experts had earlier suggested that some of the important macroeconomic factors influencing the world at this point in time have also proven to be a major influence on BTC. The Dollar-Yuan pair and BTC rose at the same time during Monday’s trade as well. It remains to be seen whether Bitcoin can hold on to these gains over the coming days.

Featured image: DepositPhotos © AntonMatyukha

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MPWR’s QuadrigaCX Talk: Amy Said It Best, How the Hell Did We Get Here?

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Vancouver, BC. March 13th 2019 – – Amy Castor, Forbes blockchain and crypto contributor, took the stage Monday afternoon at the MPWR Crypto Mining Summit 2019 to break down the incredibly engaging topic of QuadrigaCX.

The talk attracted a sold out room filled with crypto enthusiasts, founders and CEO’s of leading companies such as Bitfarms, Hive Blockchain, Outlier Solutions and Mining Sky, to hear the story of how a Vancouver based company experienced the deep downfall the crypto and blockchain industry can cause.

Amy’s comprehensible outline of the case was both eye …

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Facebook’s GlobalCoin Could be Launching as Soon as Next Year

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GlobalCoin

GlobalCoin

There’s been a lot of information circulating that Facebook is moving into the crypto market. And while some of this information is outright false, other bits are true — at least, that’s what the sources say. Take today, for example. On Friday, BBC said Facebook (NASDAQ:FB) is going to roll out GlobalCoin next year in several countries.

Here’s everything we know.

Facebook’s GlobalCoin Hitting the Market Soon?

According to BBC, a London, UK-based broadcasting company, Facebook is planning to roll out its cryptocurrency “GlobalCoin” in 2020. The online media giant, according to the BBC report, will launch the crypto-based payments system in roughly 12 countries by Q1 2020. And while that might seem far away, BBC also said Facebook plans to commence trials by the end of 2019. That and Mark Zuckerberg’s company has also already gone to the U.S. Treasury for advice.

More details about GlobalCoin are expected to be announced in the coming months. And while the world does need these additional details — the influence Facebook has on the world is huge, so the possibility of the company moving into crypto is extremely significant — Facebook seems to already be benefiting from the BBC report. Well, maybe not benefitting, but at least FB stock didn’t plunge after the report on GlobalCoin came out.

According to Yahoo Finance, as of 3:44 PM EDT, FB stock is trading at $181.19; this puts FB stock up 0.18%.

Takeaway

As mentioned, Facebook launching its own cryptocurrency is massive. Companies like Facebook and Amazon are constantly moving into different sectors of the market successfully, and the launch of GlobalCoin in a dozen countries would be yet another example of this. 

What do you think, though? Should Facebook launch GlobalCoin? If so, which countries should gain access to the cryptocurrency?

Let us know what you think in the comments below, and don’t forget to follow along with this story in the coming months! 

Featured image: DepositPhotos 

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