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BTC/USD Price Prediction — Are Bulls Making a Pause Before $10,000?

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  • Denys Serhiichuk
    📈 Price Predictions

    Bitcoin keeps trading sideways: Is the current situation a consolidation before one more parabolic growth?

BTC/USD Price Prediction — Are Bulls Making a Pause Before $10,000?
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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.

On Thursday, May 16, Bitcoin quotes reached a ten-month high at $8,390 on Bitstamp, but then a sharp correction started, and BTC returned to the level of $8,000.

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The bulls need to raise the price above $8,000 to cancel the corrective movement. However, over the past 48 hours, Bitcoin has failed to consolidate above the psychological mark, and RSI indicates in favor of a significant overbought.

Moreover, BTC’s market share fell to 56.7%, since altcoins are feeling better with a double-digit increase per day.

However, in terms of the yearly candles, the chief crypto has gained 118% so far.

Bitcoin candles by ChartsBtc

Our BTC price prediction for today has already come true, thanks to the $7,900 decline.

BTC/USD chart by TradingView

On the 4-hour chart, we see that yesterday Bitcoin suddenly left the level just above $8,300 to $7,600 with a sharp reversal. Thus, the leading crypto set a higher minimum, which is very pleasing to the bulls.

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If BTC/USD can set a new maximum, then it will significantly increase the chances that Bitcoin will test $9,000 in the short-term scenario. A loss of a minimum of $7,600 means a break in parabolic growth and testing much lower prices.

On the daily chart, the situation looks a bit different.

BTC/USD chart by TradingView

The MACD indicator continues to show highs, illustrating that the price movement may still be valid for continued growth, even though this is probably the end of the parabolic phase.

As the events of December 2017 show, the last phase can bring the most prominent price movements in a short time – both up and down.

The price of BTC is trading at $7,840 at the time of the writing.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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Craig Wright Could Be Real Satoshi, According to Founder of First Chinese Crypto Exchange

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  • Alex Dovbnya
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    Bobby Lee, the creator of the BTCC exchange, says that Craig Wright needs to come forward with more proof, but he won't dismiss his claims

Craig Wright Could Be Real Satoshi, According to Founder of First Chinese Crypto Exchange
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Self-proclaimed Satoshi Craig Wright is an odious figure within the cryptocurrency space with very few big-name supporters apart from gambling tycoon Calvin Ayre. 

However, there is one reputable voice that doesn't want to automatically dismiss Craig Wright's claims -- Bobby Lee, the creator of China's very first cryptocurrency exchange BTCC. 

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According to Lee's recent tweet, he doesn't rule out the possibility that Craig Wright could be the real Satoshi, but the Australian entrepreneur has to come forward with further proof. However, he claims that Jon Matonis of Cypherpunk Holdings saw Wright signing a transaction with real private keys. 

Wright came out as the creator of Bitcoin back in May 2016 with major media organizations quickly picking up the story. Multiple prominent crypto figures, including Gavin Andresen and Jon Matonis, confirmed the validity of his claims.

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Together with business partner Dave Kleiman, he supposedly created Bitcoin, the first cryptocurrency, but Wright wanted to be regarded as the only Satoshi after Kleiman's death. He even went to extreme lengths by threatening random Twitter users with legal actions over calling him a fraud.      

Back in 2018, Ira Kleiman, the brother of the late computer forensics expert Dave Kleiman, sued Wright and ended up winning the long-lasting court battle. However, the nChain chief appears not to have access to half of the 1.1 mln BTC he mined together with Kleiman to finance the settlement.   

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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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