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Kickstart your crypto investment journey today! With low fees, the largest network of Bitcoin ATMs, and the most reliable customer support, CoinFlip is the best way to purchase and sell cryptocurrency. Since 2015, CoinFlip has empowered those left out by the traditional banking system to join an innovative and inclusive global economic system. We believe that cryptocurrency provides an inclusive financial system, which puts individuals' needs first.ĬoinFlip believes that bitcoin and blockchain technology have the ability to serve everyone. Then Sam and Derek give their takeaways, what they're currently holding for cryptocurrency and where they see the future of the crypto market heading.ĬoinFlip’s mission is to give the world quick, easy, and secure access to the benefits of cryptocurrency. Derek talks with CoinFlip CEO Ben Weiss to look beyond Bitcoin and see what coins may be worth investing in. The retracement suggests that the BTC price will fall to level 1.618 Fibonacci retracement level or $11,822.One of our most requested topics on ILAB is for cryptocurrency, since we've ton a couple episodes on Bitcoin already we decided to focus more on Altcoins. Meanwhile, on a weekly chart, a retraced candle body tested the 61.8% Fibonacci retracement level on March 28. The selling pressure will resume if Bitcoin loses its current support. Meanwhile, Bitcoin hovers above $21K and holds in a range between $20K and $22K. Bitcoin can hedge against inflation more effectively in the case of monetary expansion. This is because he believes that inflation has been primarily caused by supply shocks rather than monetary expansion. He indicated that Bitcoin has failed to act as an inflationary hedge during the global inflation events this year. In another development, Steven Lubka, managing director of private clients at Swan Bitcoin argued that Bitcoin should still be considered an inflation hedge. Some other reports have placed the number of wallets to be at approximately 200 million. “Until you get into the billion, billion-plus zone, I don’t think you’re going to see Bitcoin as an inflation as it’s still an early adopting technical asset.” However, the exact number of Bitcoin wallets in the world is unknown. According to Anthony Scaramucci, Bitcoin is to be held in around a billion wallets before it would begin to act as a hedge against inflation. Bitcoin May Hedge Inflation if It Hits a Billion Wallets – By Anthony ScaramucciĪnthony Scaramucci is the CEO of Skybridge Capital who believes that Bitcoin is an attractive asset but not yet an inflation hedge. Bitcoin will further decline to the lows of $18,912 and $17,605 price levels. Conversely, if the bears break below the current support, the market will resume a downtrend. On the upside, if the bulls break the $22,000 resistance, the cryptocurrency will rally to the $24,000 high. The bears will attempt to retest and break below the current support. Today, Bitcoin is declining after a failed upward correction. For the past five days, the bears and the bulls are in price tussle as Bitcoin fluctuated between the $20,700 and $22,000 price levels. Support Levels: $25,000, $20,000, $15,000įollowing the recent decline on August 19, buyers have arrested the decline above the $20,000 psychological price level. Bitcoin circulating supply – 19,129,256.00 BTC.In the same vein, buyers have been struggling to defend the $20,000 psychological price level. The upward move has been restricted by the $22,000 resistance zone. Join Our Telegram channel to stay up to date on breaking news coverage Bears Threaten to Short as Bitcoin Holds in a Range between $20K and $22K – August 23, 2022īitcoin trades marginally as it holds in a range between $20K and $22K.

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