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Streisand Effect? Bitcoin (BTC) Weather Through FUD, Bulls Firm



  • Bitcoin prices steady above $5,000
  • Volumes drop by 80 percent from 54k of Apr 2 to 11k of Apr 9

Even with FUD around China’s NDRC proposal of banning Bitcoin and crypto mining, prices are steady. It is up 7.4 percent from last week’s close as buyers aim at Q4 resistance previous support at $5,800–$6,000.

Bitcoin Price Analysis

Fundamentals

It’s a new milestone for Bitcoin. For the first time this year, the network processed more than 400 million transactions, up 50 million from daily averages of around 350 million. With an average block size of 1.2 MB and up-time estimated at 99.98 percent, Bitcoin is reliable and drawing more users by the minute.

Just to put this in perspective, in early April, the number of users—gauged from BTC wallets—surged past 25 million and is now up 45 percent to 35 million—and rising, mostly thanks to increasing demand as prices look to clear essential resistance levels. At this pace, the Bitcoin (BTC) market liquidity is deep, meaning…





Read Full Story : NewsBTC

2019-04-10 19:00:28

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