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Bitcoin Price Breaking $9,800 Would Let BTC Show Further Brief Rise

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Fri, 02/21/2020 - 10:45
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  • While Bitcoin is trading near $9,600, prominent crypto traders are satisfied with the price but say BTC could resume rising soon

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Contents

After just one day of surging above $10,000, Bitcoin is again trading below that level as another correction is taking place.

Major crypto traders are satisfied that it is not dropping deeper. Some expect this retracement to be over soon.

‘Whales are just playing with your emotions’

Crypto trader Josh Rager believes that the important price level for BTC to cross is $9,800 – the flagship crypto needs to break it and hold above it on high time frames. If that happens, he says, he may turn bullish for the short term.

Until BTC breaks this level, he says, it’s just whales manipulating traders' emotions.

‘Holding $9,400-9,450 is great’

Dutch analyst Michael van de Poppe is happy with Bitcoin holding above the $9,400-$9,450 level. Dumping below that would lead BTC down to $8,750 and possibly lower, he suggests.

However, the analyst points out that Google Trends shows an upward BTC trend at the moment ahead of the Bitcoin halving.

“Still unchanged in my view. Could be that we've got a period of calm movements, as we might have found a support here.

Overall, holding $9,400-9,450 is great. Losing it -> $8,750.

Google trends are showing an upward trend too. :)”

BTC 2
Image via Twitter

Crypto trader @George1Trader is also positive on BTC, expecting it to reach $9,850 after a small dip.

BTC 3
Image via Twitter

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Pullbacks can’t be avoided: CZ

The chief of Binance, Changpeng Zhao, believes that pullbacks on the crypto market, especially when it comes to Bitcoin, are inevitable. The reason is mass psychology, he says. The good thing CZ sees in this is that pullbacks allow establishing support and they also cut off all those who do not really believe in Bitcoin.

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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Bitcoin (BTC) Scammers Impersonate Bill Gates and Endanger Almost 30K YouTubers

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  • Bitcoin (BTC) scammers know no quarantines or self-isolation. Dozens of fraudulent airdrops falsely endorsed by Bill Gates ask YouTubers to send in their Bitcoins.

Cover image via stock.adobe.com
Contents

Typically, fake YouTube airdrops are quite similar to each other. With the current pandemic enraging across the planet, a series of scams that impersonate Bill Gates have some distinct features.

With Bitcoin (BTC) Price Drop, Scammers are Getting Greedy

Just like in several other previous cases, the fraudsters launch fake 'live streams' on YouTube, asking users to send in their Bitcoins (BTC) in order to get redouble the initial amount.  An 'entry ticket' into to this scam starts at 0.1 BTC which is more than $650. With previous scams, it was much cheaper.

Fake YouTube Bitcoin (BTC) airdrop
Image via YouTube

The scammers also publish the URLs of this campaign, which are linked to suspicious websites. Unlike previous cases, fraudsters launch multiple live streams simultaneously. At press time of this article, at least two of them were active.

Multiple scam streams on YouTube
Image by YouTube

According to statistics, the average popularity of one live stream is about 30,000 viewers.

Very Bad Idea

Alongside that, launching fake airdrops on behalf of Microsoft's Bill Gates isn't a slam dunk for the fraudsters. It may seem ironic, but Mr. Gates is a prominent critic of cryptocurrencies, particularly of Bitcoin (BTC). He is sure that digital assets represent a kind of a ‘greater fool theory’ type of investment.

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Cryptocurrencies kill, added Mr. Gates. To him, its only use-case besides short-term speculations is illegal funding for drug trafficking:

Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.

The U.Today team will one more time state that no airdrop will be conducted without the notification from an official website of a product or token. Any YouTube, Medium, and/or Telegram announcements may shill scammers. Never send your money to unknown persons.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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