Reddit: the Bitcoin Market Is Really in the Dumps These Days

The Reddit community doesn’t sleep and therefore is already discussing the unprecedented generosity of ‘Elon Mask’ (which is actually too good to be true), the Bitcoin Cash fork and much more. What exactly? Find answers in our weekly digest

I sent 0.1 BTC and received a Tesla! want my money back!

If you want to know where I stand on the Bitcoin Cash fork: I agree to not support SV and/or anything that gives charlatan Craig Wright power, so I’m happy with @BitcoinCom and @coinbase’s decision to support ABC. Hoping the hashpower will reflect that!

Olivier Janssens

BTC

4,003 USD
-1.37%

BCH

153.68 USD
-3.71%

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BitDeer.com to Host Crypto Mining Industry Dialogue 2019 in Beijing

BEIJING, March 21, 2019 /PRNewswire/ -- On March 24, 2019, the world's leading computing power-sharing platform BitDeer.com is hosting the very first Crypto Mining Industry Dialogue in Beijing, where mining elites unite to discuss, define, and create the future of cryptocurrency mining industry. Officially unveiled months ago during the bear market, BitDeer.com has remarkably achieved explosive growth and gathered immense popularity amongst global crypto mining enthusiasts. "As an active member and pioneer of the crypto mining industry, BitDeer.com is looking forward to facilitating dialogue between the industry leaders and giving back to the crypto mining community," said Celine Lu, founder & CEO of BitDeer.com. "We are thrilled to host the first Crypto Mining Industry Dialogue event in Beijing, and hopefully a few more in China and all over the world." The one-day event will feature an all-star speaker lineup of prominent cryptocurrency mining experts and industry opinion leaders, covering a wide range of topics such as the mining market prospects in 2019, new opportunities and rising stars, challenges and industry thresholds, as well as the sustainable profitability of crypto mining industry. Confirmed speakers and participants include: Celine Lu - Founder & CEO, BitDeer.com Zhong Zhuang - CEO, BTC.com Full story available on Benzinga.com
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Prominent Analyst: Bitcoin (BTC) is Likely to Surge to 400k, Does This Mean the Bottom is in?

Bitcoin’s price action over the past year and a half has been quite the rollercoaster, with many investors incurring nearly instant wealth in late-2017, followed by tremendous losses for those who continued to hold their Bitcoin or other crypto investments. Despite this, those who held and are still holding are doing so either because of a fundamental belief in the technology, or at the very least a belief that the markets will eventually surge back to, or above, their previously established all-time-highs. That being said, recent comments from a prominent analyst about the potential Bitcoin’s price has to surge significantly higher will certainly be reassuring for embattled crypto investors who have been discouraged by the recent market conditions. Bitcoin (BTC) Drops to $4,000 as Support Level is at Risk of Being Broken At the time of writing, Bitcoin is trading down over 1% at its current price of $4,015, just a hair above its recently established support level at $4,000. Yesterday, Josh Rager, a popular cryptocurrency trader on Twitter, explained that the lack of buying pressure above $4,000 is likely to lead BTC’s price to $3,500, which may be reached soon if the crypto’s bulls are unable to keep Bitcoin’s price above $4,000. “$BTC Weekly Chart. Gandalf is holding $BTC below the mid $4,200 level. Bitcoin shall not pass the current resistance. So my target for the next drop has an aim at previous support near mid $3,500s,” he explained. $BTC Weekly Chart Gandalf is holding $BTC below the mid $4,200 level Bitcoin shall not pass the current resistance So my target for the next drop has an aim at previous support near mid $3,500s pic.twitter.com/BGUWMmAl4V — Josh Rager (@Josh_Rager) March 20, 2019 Naeem Aslam, the chief markets analyst at Think Markets U.K., recently spoke about the importance of the $4,000 level, noting that it will set the trend for which direction the markets head next. “Questions are being asked constantly when it comes to Bitcoin’s battle with the $4000 mark. The result of this battle sets the tone for a bullish or bearish trend,” he explained, further noting that this price level has become a “matter of death or life for crypto traders.” Could Bitcoin Surge to $400,000 Next? Although Bitcoin’s instability around its current price levels does seem to be significant in the short term, in the long term it may be very insignificant, as Aslam believes that BTC could eventually surge as high as $400k. “I personally believe that each Bitcoin can go up as much as $400K and if history repeats itself, this number is not a fool’s paradise. This is a simple math calculation: approximate percentage projection of the price which we experienced during the last bull run,” he bullishly explained. Keeping that in mind, for traders who are waiting to buy the bottom, the risk / reward ratio simply doesn’t make sense. Ryan Selkis, a popular figure within the crypto industry, spoke about the absurdity of trying to purchase a bottom when there is such a massive potential upside for BTC in a recent tweet. “I’d be extremely surprised if the bottom wasn’t in for this $BTC bear market. If you’ve been on the sidelines, what are you waiting for if not now? If you’re a long-term bull, the 5 year EV is 25-50x, and you’re going to wait to time an entry that’s 20% more attractive?” He noted. I'd be extremely surprised if the bottom wasn't in for this $BTC bear market. If you've been on the sidelines, what are you waiting for if not now? If you're a long-term bull, the 5 year EV is 25-50x, and you're going to wait to time an entry that's 20% more attractive? — Ryan Selkis (@twobitidiot) March 21, 2019 As the market’s price action continues to unfold, traders and investors should keep in mind the massive potential Bitcoin and the entire markets have to surge significantly higher in the next few years. Featured image from Shutterstock. Prominent Analyst: Bitcoin (BTC) is Likely to Surge to 400k, Does This Mean the Bottom is in? was last modified: March 21st, 2019 by Cole PetersenThe post Prominent Analyst: Bitcoin (BTC) is Likely to Surge to 400k, Does This Mean the Bottom is in? appeared first on NewsBTC.
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