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📈 Price Predictions
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Bitcoin Price Might Drop Before Pop: Traders Explain Risks And Opportunities

  • Vera Yurina
    📈 Price Predictions

    Bitcoin price is preparing to hit one more bottom. What’s next? Possible scenarios discussed in BTC price prediction from TradingView

Bitcoin Price Might Drop Before Pop: Traders Explain Risks And Opportunities
Cover image via u.today

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.

 

Bitcoin has been holding around $8,200 the entire week, and traders are wondering what to expect next. Has the bottom been achieved, or it’s not the end of bearish period yet? Let’s observe Bitcoin price prediction from TradingView to decide what to do with your Bitcoins next.

BTC what is next?
Bitcoin (BTC) price chart by TradingView

According to the user cryptoGats, there are two likely scenarios for BTC:

1) If we stay around $8,300 and then bounce up to retest the 200MA then we'll possibly go over it and onto the $9,500 area (which is possible because that will signal a healthy retrace and advance.)

2) If we go down to $8,100or below then we are going to retest the bottom and possibly pierce it (which will signal that we are going to $7k - $6500). The range that we are stuck in is very strong both support and resistance have reinforcements and backups so it is hard to see who will win until a few more moves, but now you know the important milestones and what to look for in the next few hours or couple of days.

We have tested and retested the 200MA so many times that a big drop is due.

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What about the Death Cross?

The impending crossover of the 50MA sliding under the 200MA will affect the price negatively. If we avoid it by somehow moving the price up by a lot then we are good, but if we stay the course it will happen, we might go up temporarily but we'll be inevitably going back down. The strategy here? Use this opportunity to catch alts at even lower prices, maybe as the double bottom forms.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
    📰 News

    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
Cover image via www.123rf.com
Contents

According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

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Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

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Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

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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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