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Bitcoin Miner Makes Bold Statement About ‘Bright’ Future After Market Rout

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Bitcoin miner Argo Blockchain, a UK-listed company, has today sought to soothe shareholder unrest following a steep decline over the last month in the price of bitcoin and other cryptocurrencies, including Ripple’s XRP, ethereum’s ether, and stellar lumens.

Bitcoin is down some 38% over the last month as sell-off sparked by a fork in the bitcoin cash cryptocurrency led to investors bailing out of their crypto holdings and a raft of warnings the bitcoin price could be headed far lower.

Bitcoin companies around the world, including cryptocurrency miners and software developers, have come under severe pressure since early last month after a sudden sell-off looks set to cap a turbulent year for bitcoin and the wider cryptocurrency market.

Bitcoin miner (Bitcoin Mining Machines)
Bitcoin miners around the world have been hard hit by a near-40% decline in the bitcoin price over the last month.
Photo credit: AFP/Getty Images

Despite the downward trend for the bitcoin price, which has dragged the cryptocurrency market down by some $700 billion since the beginning of 2018, Argo has said demand for its products and services has remained robust.

Our mining packages are being snapped up as quickly as we make these available and demand continues to exceed supply,” said Argo co-founder and director Mike Edwards in a trading update to the market. “Despite a recent downturn in the cryptocurrency market, we are continuing to experience a strong ramp-up in revenues due to good execution of our growth strategy.

Argo’s share price has plummeted since it listed on the London Stock Exchange in August, tracking the falling price of bitcoin. Shares in early August were valued at £0.131 and fell to lows of £0.043 late last month. Shares in the company rallied some 25% this morning as investors cheered the bullish statement but are still far from their list price of £0.16.

Argo Blockchain

Argo’s share price has fallen as the price of bitcoin and other cryptocurrencies has dropped.

Argo’s long-term prospects remain bright and we look to the future with confidence,” Edwards added

Argo today revealed it has now sold 10,325 crypto mining packages, up from 4,200 on October 1.

Since bitcoin sudden sell-off last month, many have warned the short term future is going to difficult for bitcoin miners, many of which have reportedly already switched off their machines as they await an uptick in the price. To make a profit bitcoin miners are thought to need bitcoin to be trading at over $4,500.

Canaan Creative, the world’s second-biggest maker of cryptocurrency mining rigs, last week revealed it had put all its Avalon-brand equipment on sale at $200 per unit—down from over $700.

Bitcoin Price Bitcoin Graph
The bitcoin price took a steep dive last month after a period of relative calm. (CoinDesk)

The bitcoin price fell as low as $3,600 yesterday, down from an all-time high of almost $20,000 in December last year and over $6,500 at the start of last month.

The market has been fretting for months that the long-promised institutional investment surge may not transpire, as global banks and financial institutions delay or put on hold their plans to launch bitcoin and cryptocurrency investment products.

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Satoshi Studio Launches First Ever Blockchain-Certified Sneakers

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Paris, 30th of May 2019. French brand Satoshi Studio announces the launch of their first sneakers. The Satoshi_one is the first pair of shoes certified on the Ethereum blockchain. More high-end products will come from Satoshi Studio thanks to their innovative financing campaigns.

Satoshi Studio was founded in 2018. The Parisian brand is influenced by the Tech industry and Crypto culture. It aims to create a place for itself as a reasonably priced high-end brand. To reach that goal, it will not use traditional channels of communication, striving instead to connect directly with its young and tech-focused community.

To be able to regularly offer new products and avoid traditional seasonality, the brand will launch several crowdfunding campaigns per year. Satoshi Studio believes in responsible shopping habits: they will only produce the right amount, no more, no less. The sneakers will be offered at a reasonable price, without compromising on quality.

Authors Name
Lucas Goldlust
Company Name
Satoshi Studio
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Bitcoin News News

Why We Could See The Price of Bitcoin Quadruple Within Just a Few Months

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Bitcoin is ballooning to new highs… but can it last?

Compound interest might be the most powerful force in the universe, but FOMO can’t be far behind, especially as it relates to bitcoin.

We’ve seen the “fear of missing out” contribute to a nosebleed rise in the price of bitcoin BTCUSD, before, and Fundstrat’s Thomas Lee believes we’re about to see it play out again — but even more pronounced.

The outspoken bitcoin backer told clients this week the world’s top cryptocurrency could ride a wave of FOMO all the way up to $40,000 “within a few months,” thanks to better transparency and a breach of the psychological $10,000 barrier.

He pointed to Grayscale Bitcoin Trust GBTC, as a great way to partake in a rally that would be most welcomed by the crypto bulls who had to suffer through a 74% drop in the price of bitcoin last year.

“Bottom line: Crypto winter looks over,” Lee said….

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Bitcoin News News

Bitcoin (BTC) Price Eyes Chart Pattern That Kicked Off Bull Market in 2015

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  • Bitcoin’s 50- and 100-candle moving averages on the three-day chart look set to produce a bullish crossover – a sign of bull market momentum. Back in October 2015, the same cross marked the start of a long-term bull market.
  • This time, BTC has already rallied more than 180 percent ahead of the bull cross. As a result, we may not see a big move to the higher side immediately following the confirmation of the bull cross.
  • Prices could rise to $8,400 in the next 24 hours, having witnessed a bearish channel breakout on Wednesday. A break below key 4-hour chart support at $7,910 would weaken the case for a rise to $8,400.

A long-term bitcoin (BTC) price indicator is about to turn bullish for the first time in nearly four years.

The 50-candle moving average (MA) on the three-day chart is trending north and could soon cross above the 100-candle,…

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Bitcoin’s Latest Pullback May Simply Be Part of its Current Uptrend, Here’s Why

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Bitcoin and the aggregated cryptocurrency markets have faced increasing selling pressure as of late that appears to have put their recently established upwards momentum in jeopardy. Despite this, BTC and other cryptos have yet to incur any massive influxes of selling pressure that lead to the formation of a quick downwards leg.

Although the recent influx of selling pressure does appear to be bearish, it may all be part of the current uptrend that the markets are in, according to one prominent crypto analyst.

Bitcoin (BTC) Continues Slow Downwards Grind

At the time of writing, Bitcoin is trading down over 2% at its current price of $7,770 and is currently trading just a hair above its 24-hour lows of $7,750.

Over a one-week period, Bitcoin has dropped significantly from its highs of nearly $8,800, which were set last weekend. It appears that the upper-$8,000 region remains a region of significant resistance for the…

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Analysts Foresee Bitcoin Surging to $10,000 Without a Pullback as it Hits $8,947

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The bitcoin price jumped on Monday, almost retesting the $9,000-level for the first time since May 2018 in what seemed like a clear bull run.

The world’s leading cryptocurrency climbed as much as 13.5 percent, measured from levels on Sunday noon, and was trading at $8947.88 as of 0100 UTC today on US-based Coinbase exchange. The jump brought bitcoin’s maximum year-to-date gains to 142.40 percent, attesting to the end of 2018’s infamous bearish phase that wiped more than 70 percent of bitcoin value from its all-time high at $20,000.

bitcoin price £10000 May June 2019

(Bitcoin Price Comes Closer to Retesting $9,000 After 12 Months | Image Credits: TradingView.com)

Bulls now believe that the cryptocurrency would retest its historic peak once again, even though it remains about $11,500 below the target at the time of this writing. The renewed buying sentiment finds…

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Bitcoin News News

Bitcoin (BTC) Price Party’s Only Getting Started after 2019’s Monster 100% Surge

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According to eToro senior market analyst Mati Greenspan, bitcoin is in amidst a parabolic bull cycle and is on track to sustain its strong momentum over the medium to long term.

Since January, within less than six months, the bitcoin price has increased by nearly 100 percent against the U.S. dollar.

Bitcoin Charts BTC Charts Prices

With a 98% gain year-to-date, bitcoin has outperformed most assets in 2019
(source: coinmarketcap.com)

Still, despite its large short-term rally, Greenspan noted that the dominant cryptocurrency is only at the start of a bigger cycle that may lead to new highs for the asset.

WHY INDUSTRY EXECUTIVES ARE SO OPTIMISTIC IN BITCOIN

In December 2018, the bitcoin price dropped to its lowest yearly point at $3,150. At the time, even though the industry had demonstrated significant progress in improving the infrastructure supporting the asset class, the sentiment around…

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