{"id":377932,"date":"2019-04-10T19:00:28","date_gmt":"2019-04-10T19:00:28","guid":{"rendered":"https:\/\/wncen.com\/?p=377932"},"modified":"2024-06-11T21:14:38","modified_gmt":"2024-06-11T21:14:38","slug":"streisand-effect-bitcoin-btc-weather-through-fud-bulls-firm","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/streisand-effect-bitcoin-btc-weather-through-fud-bulls-firm\/","title":{"rendered":"Streisand Effect? Bitcoin (BTC) Weather Through FUD, Bulls Firm"},"content":{"rendered":"
Even with FUD around China\u2019s NDRC proposal of banning Bitcoin and crypto mining, prices are steady. It is up 7.4 percent from last week\u2019s close as buyers aim at Q4 resistance previous support at $5,800–$6,000.<\/em><\/p>\n It\u2019s a new milestone for Bitcoin. For the first time this year, the network processed more than 400 million transactions, up 50 million from daily averages of around 350 million. With an average block size of 1.2 MB and up-time estimated at 99.98 percent, Bitcoin is reliable and drawing more users by the minute.<\/p>\n Just to put this in perspective, in early April, the number of users\u2014gauged from BTC wallets\u2014surged past 25 million and is now up 45 percent to 35 million\u2014and rising, mostly thanks to increasing demand as prices look to clear essential resistance levels. At this pace, the Bitcoin (BTC) market liquidity is deep, meaning volatility is also low as more investors pour their hard earned or pooled capital to the world\u2019s first most valuable coin.<\/p>\n However, what is impressive thus far is the ability of the market to \u201cignore\u201d FUD around National Development and Reform Commission (NDRC) proposal of ban Bitcoin mining in the world\u2019s second-largest economy. Because of “non-compliance” and general wastefulness, the commission says Bitcoin and cryptocurrency mining–which is itself a multi-billion industry spearheaded by a Beijing-based Behemoth, Bitmain, ought to be phased out despite what it contributes to their slowing economy.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n
Fundamentals<\/h3>\n
Candlestick Arrangements<\/h3>\n