The Bitcoin price has increased from $6,100 to $6,550 during the month of September this year – proving a new bullish run and making headlines on many crypto news sites. Currently, Bitcoin is testing the $6,800 resistance level.
Even though the leading cryptocurrency experienced four major dips in its price during the month of September, it consecutively rose and stabilized in a higher region than many expected.
On September 9th, the price of Bitcoin was around $6,100 after its first fall of the month. Five days later, it surged and then dropped to $6,250, to later go near $6,400 on September 26th and climb to $6,600 as the month ended.
Given that the Bitcoin price rose after every fall, it is safe to say that it also strengthened its support level at $6,000 and the momentum at $6,550 according to analysts. This intensity will likely continue if the asset engages in a gradual recovery throughout the month of October.
A rapid increase could lead the price of Bitcoin close to $7,000 soon – or even testing the $8,000 margins by the end of the year. Masayuki Tashiro who is a well-known market analyst, stated his opinion regarding BTC in August this year, commenting:
“Personally I am bullish, and by the time the outline of the regulations will come together in October, those investors who will feel safer will come back. I hope things won’t get as overheated as last year, but I believe BTC can win back the value of 1 million yen (9,020$) in range.”
This proves that September was a short-term bull run for BTC – but also a potential short-term bubble if the leading cryptocurrency does not sustain its strength over the coming weeks.
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“Starting today, Coinbase supports the Basic Attention Token (BAT) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, send, receive, or store BAT, along with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, ZRX and USDC.”The decline in the price of BAT was abnormal because of the integration. Similar to the case of ZRX and its dump following the listing of Coinbase, analysts think that these integrations demonstrate the typical 'buy the rumor and sell the news' moves by investors in the cryptocurrency market. To sum things up, the price of BAT is very likely to have undergone major pressure as more investors seek to profit from it on short-term events.
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“Because with a closer look at their LinkedIn pages you can easily tell that they are each fake.”If you see it, the CEO and lead developer of this project John D. Martin has only three connections on LinkedIn despite his alleged seven-year development career. And even though there is no whitepaper for the project, there is a nice looking website and a clone of other NEO wallet services. On top of this, the NEOX whitepaper clearly says:
“A lot of misunderstanding and incorrect representations surround the question of NEO forks. To put it simply, NEO cannot be forked in the same way as Bitcoin or Ethereum — that is, there is no way to split the chain and create a new coin based on NEO.”To sum things up, this project is very confusing to declare it a scam outright - and very unknown and confusing to necessarily recommend. We'll keep a close eye on it in the future and notify you if there were any drastic changes.
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“While many tokens have recorded gains in the range of 5 to 20 percent over the last week, regulatory uncertainty around tokens and their regulatory nature could lead to a decline in the value of tokens in the weeks to come.’’
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