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Bitcoin Price at $20,000 Before Halving Is Realistic as BTC Gets Above Crucial Indicators: Crypto Trader

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  • Yuri Molchan
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    After the Bitcoin price surged by over 30 percent overnight, a crypto trader says BTC has got above crucial TA levels

 Bitcoin Price at $20,000 Before Halving Is Realistic as BTC Gets Above Crucial Indicators: Crypto Trader
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

The Bitcoin price has gone against all recent bearish predictions by surging over 30 percent overnight and skyrocketing by around $2,000. The Crypto Twitter is heatedly discussing this event.

A crypto analyst from Amsterdam has tweeted that this is good news indeed - now, as per him, Bitcoin charts show that BTC is  above all vital indicators and that the recovery of the 2017 all-time-high is realistic before the halving occurs next year.

$17,000 - $20,000 per BTC is ‘realistic’ before May 2020

The crypto analyst and trader @CryptoMichNL has tweeted that currently Bitcoin price pattern is similar to that of early 2016. He assumes that BTC is now above all the important indicators and so achieving the levels of $17,000-$20,000 before the halving in May 2020 is realistic.

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The BitMEX CEO celebrates the BTC surge

Arthur Hayes, the head of BitMEX, has tweeted that he is going to celebrate the recent Bitcoin price rise.

The TechCrunch founder, Michael Arrington, also commented on the price increase.

Some in the community believe the Bitcoin rate increase is down to yesterday’s statement of China’s President Xi Jinping about China officially embracing blockchain in the near future.

 

What are your thoughts on the further Bitcoin price movement? Feel free to share them in the comments section below!

 

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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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Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies

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  • Alex Dovbnya
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    Holding Bitcoin as a collateral is the next big use case for the top cryptocurrency

Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies
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Contents

According to cryptocurrency influencer Chris Burniske, both Bitcoin and Ethereum already represent formidable collateral economies.

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Moving beyond a medium of exchange

In his earlier tweet, Burniske also predicts that holding Bitcoin as a collateral could eclipse its medium of exchange (MoE) use case.  

He even goes as far as claiming that Bitcoin could morph into an off-chain collateral for the world. 

Burniske states that Ethereum has already created a burgeoning collateral economy around it. Apart from extending its utility beyond a pure MoE, this could also drastically decrease the coin's volatility because of all DeFi use cases.   

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Ethereum (ETH) Price Undergoes Bullish Consolidation, Says Prominent Crypto Trader

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The next big thing in crypto

As reported by U.Today, Genesis Capital, a subsidiary of Digital Currency Group (DCG) that rules the roost in the cryptocurrency lending sector, had a record-breaking third quarter with a whopping $870 mln in new originations. 

In Q3, Bitcoin remained the best collateral for crypto with fiat money and altcoins breathing down its neck. The share of USD loans increased by 25 percent quarter-over-quarter.

However, a group of Wall Street traders made a dire warning about crypto lending, claiming that the breakneck speed of its growth could result in another crypto bubble. 

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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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