The latest BTC price update shows that the next stability level for the altcoin is $7,400, bringing a lot of excitement on the crypto market as we are reading further in the Bitcoin news now.
Bitcoin’s price remains trapped in a narrow range between $7,100 and $7,700 while most of the altcoins struggle to claim new grounds. As a matter of fact, the dominance on the market is well above 68 percent which shows the BTC price update as the coin keeps its market share intact despite the lack of price increases. Right after Christmas ended, it is important to monitor the price’s motion since it is likely to retest the $7,000 once again and it is important to see what happens there.
The week was also very intense in terms of the news regarding the state-backed cryptocurrencies and a few other countries including Korea and Russia said that they are testing their own iterations and have shown positive trends in the notion. With 2020 coming in just a few days, one of the most anticipated events remains to be the Bitcoin halving, it is expected to slash the block rewards in half and a lot of people believe that this will be the reason for a surge in the price. Meltem Demirors believes that this won’t be the case because the market is driven by derivatives trading. So far, the price has surged after each halving in the following year.
This week was extremely controversial as well as the world’s largest content-sharing platform YouTube appeared to delete all of the crypto-related videos and block the users and creators as well. A lot of prominent analysts got their channels flagged and removed from the platform which was a cause for concern. Shortly after, the platform said it was a mistake but a lot of the videos remained deleted and never returned to the platform again. This also shows how important it is to stay decentralized and the benefits it brings such as censorship resistance. Anyway, there are few days left until the year ends and it will be interesting to see whether Bitcoin and the entire market will enter the year with a pleasant surprise or will it kick off the new year in the red.
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