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Bitcoin Hits $7K

Written by:
Aaron Goldstein
Published on:
May/11/2019

Bitcoin was teasing around the $7K mark Saturday afternoon, the highest the cryptocurrency has traded in several months.  Up to 70% of all funding methods with online gambling sites operating in so-called "grey" areas is done through Bitcoin and similar cryptocurrencies.

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Bitcoin's steady climb towards $7,000 appears to be due to improving bitcoin and crypto sentiment and technical data spurring on the market.  Read More From Forbes

Alex Krüger, a popular economist who focuses primarily on cryptocurrencies, spoke about the state of the markets after BTC raced past this price level, noting that it is now “in bull market territory.”

“$BTC now in bull market territory after an intraday blow-off top. R: 7000, 8000. S: 6400, 6000. Old levels not as valuable, hence why above 6400 only looking at round numbers as major resistance. Hourly volume at Bitmex was the 2nd largest ever after Sep/5/18,” he explained.  Read More From NewsBTC

In other Bitcoin news...

HTC Says Its Next Smartphone Will Run a Full Bitcoin Node

Speaking on Saturday at the Magical Crypto Conference in New York, HTC’s Phil Chen revealed a new low-cost version of its blockchain phone, the EXODUS 1s, announcing that the device will be capable of acting as a full node for the bitcoin network, meaning customers will store the entire blockchain’s data on their devices.

The company will also provide a software development kit (SDK) available for its Zion Vault, HTC’s crypto wallet app, and eventually plans to open-source the code behind its social key recovery mechanism.  Read More From CoinDesk

- Aaron Goldstein, Gambling911.com

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