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📈 Price Predictions
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BTC Price Will Be $8,200 but Traders Predict a ‘Falling Domino’ Pattern to Knock It Down

BTC Price Will Be $8,200 but Traders Predict a ‘Falling Domino’ Pattern to Knock It Down
Cover image via www.123rf.com

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

Bitcoin has managed to do what nobody expected: it not only passed the $6,000 threshold, but even managed to spike to $7,200, settling to around $7,000 as of now.

Seems like the arrival of bears has been delayed, but it cannot be cancelled at all. So, for how long will BTC continue growing, and what to expect from it in the nearest days? Check out what Twitter users think about it.

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Bitcoin’s Price Continues to Rise as Altcoins Send Mixed Signals - Is This A Sign of a Bull Run?

It can’t last forever

Optimistic traders shout about the new higher highs for BTC to be achieved in the nearest time. But it’s logical that Bitcoin should retrace for some time to accumulate more powers. So, when might it start falling back?

Here’s an interesting theory: BTC will repeat the Falling Domino pattern:

Here’s how Kiana Shek, Co-founder of DigiFinex, comments upon the situation:

I see overhead resistance at 7.7. On a weekly chart the sharp v shape reversal from the December low looks a little unnatural. Would be cautious about buying here. Those who want to get long will probably get a much better entry if they're a little patient.

Still a few unresolved negative overheads in the market, and sentiment might change after consensus this week. Risk management is key, even if the market appears bullish!

Many traders claim that a $1,000 or even lower drop would be natural even if it seems to be dreadful. Here’s one suggestion about the possible bottom, and it actually seems to have a grain of truth in it:

Some suggestions for BTC’s bottom in case of a pullback are more moderate:

When could the bear run happen? Traders are sure that BTC should hold the $7,100 position. If it fails to sustain the current level, it will drop:

Go, Bitcoin, go!

Yet, before the dump happens, Bitcoin might reach a number of great heights again. A bearish flag won’t happen all of a sudden – most probably, we will see BTC climbing to $8,000 and a bit higher.

The most optimistic traders claim that BTC has made its first steps to the top of the mountain, and it will continue the endless growth:

Here’s one more piece of proof that the patterns in 2017 and 2019 coincide, which means BTC has all chances to make it to $20,000:

Some traders suppose that BTC needs to touch the new resistance to soar:

If you believe in BTC’s power, you can hold your reserves. If you’re an advanced trader, you have a chance to earn now. Here are a few trading recommendations for those who want to play shorts:

Final thoughts

With so much fuss around and an epic sell volume, BTC might make a retracement faster than we think. However, the momentum it has already gained is now driving it to the $8,000 mark. Will this level be reached? It’s more than likely now that bulls aren’t ready to give up.

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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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📰 News
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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com
Contents

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

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Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

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Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? 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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