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BTC Is Falling Today, Now Testing The $9,000 Region

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Despite the major rally which made the dominant cryptocurrency surge by 42% a few days ago, BTC is falling today and worrying many traders and investors. At press time, BTC is drifting towards the $9,000 region and the momentum is even weaker.

The Bitcoin news updates show that from a price of $9,200 this morning, Bitcoin has retraced to around $9,100 which is its current price. Data shows that BTC/USD is down by around 3.15% on Wednesday and having spent the previous day circling around the $9,500 region. On the week, Bitcoin is still up by 15%.

One analyst concentrated on the short term and saw that BTC is falling today – dismissing the idea that Bitcoin coming off its recent highs was a bearish sign. According to the market analyst filbfilb, the upcoming technical signals based on moving averages (MA) suggested that overall, markets remained in a bullish mood.

“Sure the 50/200 DMA $btc death cross is getting everyone super bearish but End of Nov/ Start of Dec the 50/100 WMA is due to cross which is far more significant,” he wrote on Twitter.

The user also added that Bitcoin’s performance was going “according to plan” and references his yearly outlook from July in which he forecasts a range between $7,500 and $10,000 until May 2020.

As it was reported before, broad consensus calls for Bitcoin to increase significantly after this time, marking the next block reward halving for miners. Meanwhile, the Bitcoin Cash news show that BCH is the only nice gainer on the way.

As altcoins react to the lack of upward motion and as BTC is falling, BCH gained around 2% while other major tokens did not win or lose too much on their value. The worst performer in the top 20 was Monero (XMR) which saw a 5.3% decrease from its price this Wednesday.

The current market cap is now $243 billion and Bitcoin’s dominance is still impressive at 67.4%. However, the decline of 3.51% and the prices which vary by the minute indicate that new prices may be tested in the near term today.

One way or another, the volatility on the market is still there. Despite the major rally and the massive gains saw recently, both Bitcoin and altcoins are weak this Wednesday.

 

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Where And How To Spend BTC In 2020: The Ultimate List

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If you are following the Bitcoin news now, you probably know that the price of the most dominant coin is again in the highs of above $10,000 and it is very stable moving forward. This gives a push in the back for many traders and urges them to learn where and how to spend their BTC in 2020 now that it has a greater value. Whether you are a fan of HODLing (holding your BTC and not spending it) or want to spend crypto online, you should know that there are many places to spend it and that you can truly live like a king. Below, we are presenting you the answers to your questions on where and how to spend BTC. SHOPPING
  • Purse.io - A great place for whatever you need whether it's fancy or cute
  • SpendaBit - For many, the easiest and most intuitive way to buy anything you are looking for with BTC
  • Newegg - Once you land on this website, you will see where and how to spend BTC buying things you need (gadgets and tech)
  • Rakuten - If you want to spend BTC but cannot shop on Amazon, Rakuten has got you covered.
BETTING
  • SportsBet - A global sports betting place that accepts Bitcoin and gives you options to bet on.
  • BetOnline - One of the leading sports betting sites.
  • Betcoin - If you don't know where and how to spend BTC on betting, this should be one of your destinations.
  • FortuneJack - From dice to casino and live casino, there are tons of options here as well.
TRAVEL
  • TravelbyBit - If travel is your thing and you want to spend crypto, you can use this website and buy tickets for blockchain conferences using BTC.
  • CheapBizClass - Where and how to spend BTC on airline tickets? Well, you can fly business class for the same price with this company.
  • Destinia - From hotels to flights and travels, this place gives you the horizon.
  • Bitcoin.travel - A slick and modern site for your standard travel needs
FOOD And LIFE
  • ArrowHead Beef - You can eat steaks, ribs and filet mighnon and pay with Bitcoin for both in-store service and delivery.
  • Undead Coffee - Buying coffee with crypto never looked better
  • Bee Bros - You can buy some of the best honey from the Cache Valley and pay in BTC.
Found a place where you can spend your BTC - or have more to add to this list? Comment in the section below!
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Bitcoin Retakes The $10,000 Level Again, What Is Next?

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Bitcoin retakes the $10,000 position again fortunately for the bulls since the weekend’s pullback leads to this level. However, the analysts wonder, what could be next for the benchmark cryptocurrency? Let’s try and find out in the following Bitcoin news today. During the Tuesday peak, the price of Bitcoin hit $10,300 but it failed to break past the level when it tested it for the second time. Regardless of the short-term resistance, the analysts have been impressed with the 8.4 percent rally from the $9,500 price level and they were some that thought that Bitcoin will set a new multi-month high in the upcoming weeks. As fast as Bitcoin dropped this weekend, it recovered at the same speed, and the cryptocurrency returned to the $10,100 after the peak of $10,300 which is currently up by more than 6% since the local bottom is $9,500. The recovery came quickly after the short-term sell trend had formed and led some of the investors to fear that a return of the low $9.000 is back and imminent. While it is too early to tell whether or not Bitcoin saw a reversal trend, the number of analysts believe that BTC is unlikely to return to lower lows after this strong spike in price away from the $9,500. The trader Inmortal Technique explained that Bitcoin’s bounce in the $9,500 region was similar to the one of the previous retracement in the ongoing uptrend. BTC followed the path that it took last time during the correction which could mean that it will push towards new highs past $10,500 in the upcoming days, possibly reaching the $11,000 region. From a technical analysis perspective, Bitcoin reached a positive signal during the market update showing a 50-day simple moving average and the 200-day simple moving average crossed. The long term indicators show that the golden cross indicates a bull market on the horizon and is strengthened by high trading volumes. In 2019, Bitcoin rallied by more than 200 percent from the time on the golden cross to the local top and the other golden cross in 2015 which preceded more than 6,000 percent move higher. Bitcoin rallied over the past two weeks but the gold did as well. This precious metal took a hammering for the bigger part of the decade, did pretty well over the past two years as Bitcoin retakes the higher position above it.
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US Government Auction: $40 Million Worth Of BTC To Be Sold Today

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The US Government Auction starts today where more than 4,000 BTC will be auctioned today and the procedure will happen with sealed bids where the bidder that bids the most gets the bitcoins. Let’s read more in the following Bitcoin news today, here at DC Forecasts. All of the bitcoins in the US Government Auction have been forfeited in different federal administrative and civil cases. The US Marshal Service will carry out the sealed bid auction for more than 4041 BTC later today and the amount at current rates reaches less than $40 million. According to the official release, the users that will participate have to deposit to participate in the auction set to $200,000 so the bitcoins will be sold in four different series and will be divided into several blocks. The bidders had to register with the USMS and those who are approved to take part have to use their confirmation from the USMS and all documentation received after the deadline will not be considered. The auction comes at a very convenient timing since Bitcoin’s price charted a new Golden Cross which means that the 50MA crossed above the 200MA which is a known significant bull flag. The last time that this happened, the price of the number one cryptocurrency surged to 165% in about 60 days. This means that the $40 million worth of Bitcoin today could reach up to $106 million in less than two months if the history repeats again. The rules of the auction are very simple. The bidder who offers the highest price will be the one that will receive all BTC. If there is more than one bid at the same rate, the first bid will win. If a default of a winning bidder happens, the next highest bidder will get the BTC. Back in 2014, the popular bitcoin supporter Tim Draper participated in a similar auction where more than 30,000 Bitcoins were sold which were previously seized in the Silk Road bust and he bought them all. It is still unclear how much money he paid for the amount but this stash is now probably worth more than $290 million.
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‘Golden Cross’ For BTC May Result In Gains To $26,000 By Halving

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The Bitcoin news now indicate that the most popular coin in the cryptocurrency ecosystem is again near the $10,000 mark and may rise to $26,000 in just two months thanks to what is known as the 'golden cross' which previously triggered 170% price gains. One analyst featured in the cryptonews talked about this on February 18 and said that this week saw Bitcoin's ascending 50-day moving average cross over its 200-day moving average. Known as a 'golden cross" this phenomenon is a rare occurrence for the cryptocurrency. Even though BTC shed almost $1,000 in recent days, Wareing is anything but bearish on the short-term profit potential.
“Last time this happened #Bitcoin pumped 170% in under 60 days,” he summarized.
His comments were echoed by many other analysts. And as he added that at press time, levels of around $9,800 show that Bitcoin regained support in an overall bullish ascending price triangle, the sentiment was also echoed by another fellow Cointelegraph Markets analyst named Michael van de Poppe, who said:
“And so, we've bounced on the green area around $9,450-9,500. That was heavily needed. We could still see a period of relative calm movements, before we're either attacking the highs at $10,400 or the lows at $9,500.”
The past weekend left a significant gap between two Bitcoin futures trading sessions too. Historically, BTC has subsequently "filled" these gaps which is why many believe this will be a week when Bitcoin will visit $10,500. Still, the 'golden cross' is the biggest thing now and makes Wareing the third prominent Bitcoin figure to forecast major short-term gains this month only. Before this, we had Fundstrat's Tom Lee who said that Bitcoin could reach $27,000 by August, again because of the price beating out resistance from its 200-day moving average. After that, we saw Mike Novogratz commenting that BTC/USD might retest its all-time highs of $20,000 by the time of May's block reward halving.  Anyways, the price of the most dominant cryptocurrency today is stable at $9,755 and may soon prepare for a jump to $9,800 and then $10,000 which is the five-digit level many are hoping to see Bitcoin reclaim. The coming altcoin news show that ETH, XRP, BCH and BSV have all regained much from their losses and are stable today with new potential gains on the horizon.
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