Bitcoin may have ended its recent price correction and could be on its way to another rally. The coin is expected to hit $12,000 in the near future.
Fed announced creating a system that would allow consumers and businesses to send and receive money instantaneously allowing any U.S. bank to immediately complete debits, virtual transfers and checks.
Weaker USD may be good news for Bitcoin price which could pick up more because of the quarter-percent rate cut. The move has been seen as preventative by economists but could also be a catalyst for the next financial crisis.
Bitcoin had been in an uptrend for most of the day, and yesterday it managed to successfully pierce the $10,000 mark, which is generally considered to be a level of crucial psychological, if not technical, resistance.
Crypto analysts and experts expect a bright show for Bitcoin price in the future amidst the growing uncertainty in the global economy and several other factors.
It seems that big companies as Facebook, Amazon and Google might be forbidden to launch their digital assets. If the Congress’s Bill pass – they could face with paying $1K penalties per day. Even though it’s not likely for bill to pass, it presents another obstacle for Facebook’s Libra.
Speaking at the social media summit, US President Donald Trump takes a jibe at Bitcoin and cryptocurrencies in general. Says the US Dollar is the most superior currency and will continue to remain so.
SEC, for the first time ever, approved a $28 million Reg A+ offering for decentralized Internet company Blockstack. The company will begin selling the SEC-approved tokens, essentially an investment vehicle for fundraising, as of today.
Bitcoin price seems to be preparing for more upsides above the $13,200 level. In the short term, there could be a downside correction, but the bulls are likely to defend the $12,800 or $12,600 support area in the coming sessions.
Anthony “Pomp” Pompliano is 75% confident that by the end of 2021 Bitcoin will be traded at $100,000 price level. Nevertheless, according to him, this way will be full of ups and downs.