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Last Week’s Price Gain For BTC Is Highest Since October

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The price of Bitcoin has hit new records last week and jumped more than 11%, confirming a falling channel breakout and a bullish reversal on the weekly chart. The breakout opened the doors for a re-test of the October highs above $10,000.

For the next 24 hours, the main focus is set on $8,200 which is a level that has proved a tough nut to crack in the last few days. A strong rejection above $8,200 could also yield a temporary drop to sub $8,000 levels.

Bitcoin logged double-digit price gains last week and confirmed the reversal from a six-month downtrend. The top cryptocurrency by market cap gained 11.2% in the seven days to January 12, which is the biggest weekly gain since October.

The prices rallied by 16% in the third week of October and since then, the top cryptocurrency has managed to score gains in only three weeks. The altcoin news and updates also show that other coins were affected by the gains. During the break six months to December 31, the cryptocurrency only rose with double-digit gains two times. Further, Bitcoin suffered a lot of losses in 15 out of 27 weeks and in two weeks, it was ending roughly fiat.

Clearly, the bears were in big control during the second half of 2019. The prices fell from highs above $13,000 to $6,425 during this period and established a series of lower highs and lower lows on the weekly charts.

This downward trajectory ended with last week’s impressive 11% gains and the path of the least resistance now lies on the higher side. In the weekly charts, we can see that last week’s candle closed well above the upper edge of the bearish channel, confirming a new bullish breakout.

The pattern also indicated that the pullback from $13,800 has ended and the bull run from lows near $4,100 seen in the first week of April 2019 resumed. This rise also confirmed that the bearish-to-bullish trend change signaled by the hammer candle created in the third week of December.

With this breakout, the odds of Bitcoin repeating history and the Bitcoin news showing new yearly highs ahead of the May 2020 mining reward halving have strengthened as well. The halving will cut the amount of Bitcoin created every 10 minutes by half.

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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

Stefan is a full-time member and has been a Bitcoin Specialist for over 6 years. Providing daily news and updates for DC Forecasts.

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MetaMask Dapp Platform Returns To Google After Ban

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MetaMask dapp platform
MetaMask dapp platform returns to Google after it was banned for one week at the end of 2019 as we are reading further in the ethereum news today.The Ethereum ecosystem saw a very small setback in the last week of 2019 when Google banned the MetaMask dapp platform from the Play Store. The Ethereum wallet and dApp platform announced the news exactly one week ago back on Twitter. As per the reports, Google believed that MetaMask violated the financial services of the tech giant which MetaMask of course, denied. It could turn out that the entire incident was a simple misunderstanding as the platform announced the return on January 1st, 2020. In the new announcement, the crypto wallet stated that Google permitted the mobile app back on the Play Store supposedly after very careful consideration.MetaMask thanked the community for the support saying that the Dapp is now back on the app store. Thanks to all of the users’ suggestions for alternate distribution methods, MetaMask is more resilient now and the community is stronger for enduring the incident despite the fact that it could have been an error. The entire incident has been confusing to a lot of users from the start and Google banned MetaMask because it believed that the dapp allowed the users to mine cryptocurrencies via mobile which is not true.On the other hand, Google was extremely quick to believe that false facts and ban the Android client without checking as part of the recent crackdown on digital currencies. Google banned crypto advertising a long time ago and the effects have just started to appear. In the last few weeks of 2019, YouTube also started its own crackdown where the world’s biggest video platform started removing crypto videos without warning while many crypto content creators were also banned from the platform.The company also claimed that it was a mistake but all of these errors happened simultaneously and many started to believe that Google also has the crypto problem. The crypto community started to enjoy its small victory once Youtube apologized when the ban of MetaMask was announced. It is also worth noting that Google is suppressing crypto websites on Google News which hurt the crypto industry and makes certain information less accessible to the community.
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Bitcoin ATM Number Increased By 50% In 2019: Report

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Bitcoin ATM Number
The Bitcoin ATM Number increased by 50 percent in 2019 and reached a total of 384 according to CoinATMRadar.December 2019 was a meaningful month for a multitude of causes, probably some of the least reported being the new record number of Bitcoin (BTC) ATMs installations. The number od 338 destroyed the previous record of 294 set in August of 2019. The ATM is a piece of very expensive equipment and logical is that they are supplying an existing demand.As we are seeing further in the latest bitcoin news, the analysts wonder from where this demand and the users really come from? They are surely not the best option for most of the Bitcoin (BTC) users and there are some jurisdictions in which this notion is increasing even more.The reality is that people have also used a Bitcoin (BTC) ATM often, but that was in the year of 2014. Some of the users have been in a need for some amount of cash in ASAP, and selling some Bitcoin (BTC) looked like the best deal, and also there was the fact that using Bitcoin (BTC) ATM’s was a fairly new thing. The process is fairly easy, make a transfer, get the printed QR code afterward come back in half an hour to take your cash.It could have been finished without the time spent waiting but that was not a deal-breaker. The deal-breaker is when you understand how big the fee to be paid was. Take into consideration the big fees that make a noteworthy hole in the funds received/paid the presence of another reason to use Bitcoin (BTC) ATM must be real. Can it be the anonymity that the simple walk up to a machine offers over registering?Of course, in some circumstances, yes, but in the USA the ATMs are now considered Money Services Businesses, which bears the consequence of enforcing the same anti-money laundering (AML) and know-your-customer (KYC) procedures as exchange companies. However, the question of whether all of the ATMs upheld the standards and regulations is another matter. The Bitcoin ATM number has been increasing throughout the year as per the recent reports where we can read that 20 BTC ATMs were installed in Circle K Convenient stores around the United States which marks the expansion of retail crypto availability in the Western US.
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Bitcoin Price Action Starts Again After Days Of No Movement

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Bitcoin Growth Trend
Bitcoin price action is starting again after a few days without signs of life and it seems that BTC breaks higher at the end of the weekend, pushing past the $100 range that defined the price for the past three days as per the bitcoin news updates.The cryptocurrency traded as high as $7,700 with the help of a full-fledged reversal sentiment on the horizon. After the 7 percent surge on Sunday, Bitcoin settled down and dropped as low as $7,240 once the bulls failed to maintain the momentum. Despite the short-term pullback, some of the analysts believe that the coin will remain in the bull territory. The analyst crypto Buzz noted recently that despite the drop, Bitcoin’s outlook looks bullish with a slight divergence forming between the Relative Strenght Index and the price which shows a continuation that will tap the $8,000 in the next few days.The bitcoin price action started over the weekend once its performance created a strong signal for a massive bullish divergence in the oversold territory on the Stochastic Relative Strenght Index. For those who don’t know, the divergence Melker pointed out is because of the stochastic RSI is trending much higher while the price reaches lower lows. According to the trader, this is the fourth time that this signal has been since the $20,000 sky-high that was seen in 2017. If we take the historical bullish significance of the coin, there’s a huge chance that Bitcoin could start gaining momentum in the medium-term timeframe in the upcoming weeks.One of the market commentators found that in the week ahead, all of the previous CME futures expiries, there’s a huge chance that bitcoin trended lower and the average loss will come out to 2 percent in seven days. This implies that BTC will drop easily again though a 2 percent loss is just an average which means that the CME could suggest that Bitcoin will enter a red week. Looking at the technical side, the trader PostyXBT remarked that he believes the recent bitcoin price action is extremely bullish in the short-term but the long-term remains intact in the downside as Bitcoin continues to trade under the key $7,800 level.
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3 New TRON Dapps Added To Samsung’s Galaxy S10 Phone

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It appears that the partnership of the network TRON and the technological magnate Samsung is expanding. After two months of the publicization of the first deal for the integration of Samsung’s Blockchain Keystore, support is added by Samsung for 3 new TRON dApps for the Galaxy S10 phone as we are about to see in the Tron news.A new Korean report, says that on the Galaxy S10 phone, one of the bestselling smartphones that are produced by the technological magnate, 3 new TRON dapps will be available. Two of the newly added apps are called Super Player and Blockchain Cuties. Blockchain Cuties is one of the most played games among the users of Samsung, the game portrays a fantasy-based collectible blockchain game. Before introducing those games, there were many similarly based dApps in phones made by Samsung, like Doze Bird, Dark Town, Links Puzzle and Cryptophishing.In the last days of October of 2019, the two companies announced the beginning of a new partnership in which TRON is integrating with Samsung’s Blockchain Keystore. After the announcement by the two companies, developers utilizing the platform have the opportunity to make applications that runs on TRON’s blockchain and users could access it from their devices. As the end of 2019 is near, it is evident that this is another important year for TRON that is marked by several key announcements and news.In September of 2019 TRON revealed plans for new Proof-of-Stake mechanism, new staking partners and TRX incentives. According to Justin Sun, the new characteristics will provide for “a fair, decentralized distribution of staking revenues, encouraging greater user participation, and smoother engagement with staking from more wallets, exchanges, and partners.”With all the new development on the network, perhaps the most controversial news surrounded the awaited charity lunch. Justin Sun won a $4.5 million bid to participate in the charity event shoulder to shoulder with an investor from the traditional financial markets who is one of the most successful in the sector, Warren Buffet.  After the lunch promotion, Sun had to delay it because of alleged health issues. But, DC Forecast reported some months ago, the true reason could have been pressure on Justin Sun and his team from Chinese political involvement.
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