{"id":368504,"date":"2019-01-17T19:00:58","date_gmt":"2019-01-17T19:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=368504"},"modified":"2024-06-11T17:57:34","modified_gmt":"2024-06-11T17:57:34","slug":"bitcoin-price-analysis-btc-cap-up-700-million-from-3700-support","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-analysis-btc-cap-up-700-million-from-3700-support\/","title":{"rendered":"Bitcoin Price Analysis: BTC Cap Up $700 million From $3,700 Support"},"content":{"rendered":"
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Bitcoin price ranging, up $700 million in the last 10 Hours<\/em><\/li>\n
Federal Reserve Bank of St Louis research confirms there is BTC demand<\/em><\/li>\n
Transactional volumes low. Drops from 18k to 15k in three days<\/em><\/li>\n<\/ul>\n
Market participants are optimistic and for good reasons. Candlestick arrangement points at bulls, and as prices swing between Jan 14 high low, our immediate triggers will be at $3,800. All the same ideal targets are at $4,500 and $6,000 on the upside.<\/em><\/p>\n
Bitcoin Price Analysis<\/h2>\n
Fundamentals<\/h4>\n
Aside from supervising and regulating financial institutions in the US, the Fed\u2019s core responsibility is to bring about stability in the financial sector. It is because of this stability that economies can flourish, and as they enforce the rule of law, the Fed has their thoughts on cryptocurrencies and Bitcoin to be specific. While the most valuable coin is deemed completely decentralized by the SEC, Jerome Powell, the FED\u2019s head maintain a hard stance on Bitcoin.<\/p>\n
During the House Financial Services Committee, Powell said cryptocurrencies are \u201cgreat tools\u201d for money laundering.\u00a0 Even though the Fed insists that the rapid rise of crypto assets was a bubble (that has since popped), the Federal Reserve Bank of St Louis long term view of Bitcoin prices is neutral<\/a>.<\/p>\n