RATE Group | Is A New Trend Commencing In Bitcoin? – Bitcoin USD (Cryptocurrency:BTC-USD)
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Is A New Trend Commencing In Bitcoin? – Bitcoin USD (Cryptocurrency:BTC-USD)

07 Sep Is A New Trend Commencing In Bitcoin? – Bitcoin USD (Cryptocurrency:BTC-USD)

Posted at 04:17h in Bitcoin News by

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From January 2018, Bitcoin (OTCQX:GBTC) has been in a bearish phase, which has resulted in it declining by 70.19% against the US dollar. However, for the last two weeks, things have been going well for the cryptocurrency, as it has managed to ascend from $5,879 to $7,410. However, I believe that Bitcoin (BTC-USD) shall now have a bearish reversal which shall result in it tumbling till the $5,388 mark. For me to illustrate this in detail, I shall delve into the latest fundamental news affecting the coin (COIN) whilst also sneaking a peek at the technical side.

Fundamental News:

  • The lightning network:
    • Bitcoin’s global adoption agenda received a shove in the right direction after CoinGate announced that it shall be adding 4,000 merchants to its off-chain system. The merchants shall be able to receive payments via the Lightning Network, which shall significantly reduce transactional costs whilst increasing transaction speeds.
    • When transmitting a lightning payment, both parties shall…

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