Bitcoin will unite countries into a federation – opinion

CONTENT

  • Not all investors see the prospects for short-term growth in the BTC rate

  • Bitcoin has updated a number of records amid its fall

  • Crypto community members analyzed Bitcoin prospects

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Most Capitalized Cryptocurrency – Bitcoin (BTC) – met Tuesday with another wave of negative movement. At the time of writing, the coin is trading near $ 10,000..

Most of the other cryptocurrencies from the top ten of the capitalization of the CoinMarketCap resource also show negative dynamics..

Data: CoinMarketCap

It is noteworthy that against the background of the decline in the cost of bitcoin, the average daily hash rate of the cryptocurrency reached its maximum value at an altitude of 156,364,761,518,986,067,968.

The World Will Never Be The Same After Bitcoin

Data: GlassNode

Also, BTC users have updated the annual maximum value of the average daily transaction volume..

Data: GlassNode

PlanB analyst popular in the crypto community, in turn, drew attention to a new record for the number of Bitcoin users with at least 0.1 BTC on their accounts.. 

“Bitcoin is a fast-growing country in the crypto space, with a population of sovereign individuals who prefer to use BTC to preserve valuables and conduct transactions. Its population is 3 million (No. 134 in the world), and the monetary base is $ 200 billion (No. 21 in the world).

According to PlanB, over time, a federation of countries will form in the world, similar to the unification of states in America, or the countries of the European Union, in which bitcoin can become the national currency..

IMO it will be a federation of countries (like the America united states, or the union of European countries) that respect property rights, freedom of speech & religion, separation of money and state. Singapore, Switzerland, Malta, Liechtenstein, Panama, BVI, Bahamas, Mauritius?

– PlanB (@ 100trillionUSD) September 7, 2020

One of the founders of the Gemini exchange, Tyler Winklevoss, also spoke in support of Bitcoin. In his microblog, he wrote the following:

“If you don’t have bitcoins right now, your behavior is like opening a long position in the US dollar, while simultaneously opening short positions in BTC”.

The “golden beetle”, the famous Bitcoin critic Peter Schiff, entered the discussion. He agreed that investing in the US dollar was impractical. At the same time, the right choice, in his opinion, is investing in precious metals..

Not if you own #gold and #silver instead. They I’m short both U.S. dollars and #Bitcoin and long real money.

– Peter Schiff (@PeterSchiff) September 7, 2020

Bitcoin will unite countries into a federation - opinion

Against the background of bitcoin stagnation near the level of $ 10 thousand, members of the crypto community drew attention to the prospects for further movement of the coin rate. For example, the popular analyst DonAlt noted that the growth above $ 12 thousand realized by the digital asset in August can be considered as a deviation from the main channel of the cryptocurrency rate movement. As a result, the support line near $ 10,500 turned into resistance – a level that the coin will have to overcome to enter growth.

The top of the range flipped into resistance.
This entire move down has been exceptionally technical.
Let’s see if it continues to be so and blesses us with a test of the bottom of the range off of this bearish retest. pic.twitter.com/VYMLZYEwGe

– DonAlt (@CryptoDonAlt) September 8, 2020

Investors also drew attention to the fact that multiple tests with bitcoin of the same level may indicate the weakness of the coin at this stage..

$ BTC #BITCOIN

Alongside with a bounce on the $ USD, the $ BTC is showing weakness.

Again hammering support, after taking liquidity at $ 10,400.

HUGE WARNING!! For Algorand Investors In 2021 !! | (ALGO) Crypto Price Prediction Analysis ⚠️

Third / fourth test of this support, losing it = CME gap fill. pic.twitter.com/DrwJmMEX7L

– Michaël van de Poppe (@CryptoMichNL) September 8, 2020

We will remind, earlier experts shared with BeInCrypto forecasts of the Bitcoin rate movement until December 21, 2020.

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Bitcoin will unite countries into a federation - opinion
Bitcoin will unite countries into a federation - opinion
Bitcoin will unite countries into a federation - opinion
Bitcoin will unite countries into a federation - opinion

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