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Matt Jackson

Articles by Matt Jackson

Bitcoin Dips Below $9,000 and Drags Market Down with It

11 days ago

Bitcoin prices dropped below $9,000 yesterday, having hit $10,000 resistance earlier in the week. The world’s largest cryptocurrency has rebounded and is now trading at $9,100. Meanwhile, Tether and Ripple are duking it out to be the third biggest cryptocurrency by market capitalization. Stablecoin Tether overtook Ripple yesterday but has since fallen back; both coins have a total market capitalization of just over $8.9 billion, and only $20 million stands between their total capitalization.
The world’s largest cryptocurrency has spent most of the time since April 30 above $9,000 and has, on several occasions, tested psychological resistance at $10,000. It breached the level on May 8, and made further attempts on May 14 and May 18 but couldn’t sustain the push. The bulls appear to be

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Bitcoin Trying to Take $10,000 Resistance Following Halving Event

19 days ago

Bitcoin price pushed back above $9,500 today, recovering most of its losses following the weekend flash crash. Investors are hoping the cryptocurrency will continue with a push towards $10,000 resistance. Total cryptocurrency market capitalization is also up, following the Federal Reserve’s warning of poor economic growth and as figures suggest that more investors are storing their cryptocurrency away from exchanges.
Bitcoin experienced a pre-halving flash crash last weekend, falling from a recent high of $10,500 on May 8 to a low of $8,500 on May 10. Some parties labeled the fall as a pre-halving dip and had expectations that the price would rise again following the event, which happens every four years. As digital gold’s price has recovered around 75% of this dip, the predictions have

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Bitcoin Plummets to $8,500 a Day Ahead of the Halving

22 days ago

Bitcoin’s price has slumped to $8,500, falling to $8,100 in early Sunday trading, having failed to break major resistance at $10,000. The crash saw Bitcoin shed all of its weekly gains in just a few minutes, and caused major exchange Coinbase to lose service for around an hour, despite the exchange not seeing any spike in activity. Other exchanges managed to continue uninterrupted trading. Meanwhile, Bitcoin transaction fees rocketed 300% on May 8th, ahead of the halving when transaction prices could increase further.
Bitcoin opened trading last week at $8,900 and traded at around this level until Wednesday, May 6. It climbed over the next few days, reaching $10,000 on May 8. The world’s largest cryptocurrency looked set to tackle $10,000 resistance and approached this level several times

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Bitcoin Takes On $10,000 Resistance As Halving Looms

25 days ago

Bitcoin is just three days away from its third halving event, which sees the rewards for mining the world’s largest cryptocurrency halved. The event takes place every four years and many analysts point to considerable price increases in the year following the two previous events as being an indicator of imminent gains in the current market cycle. Speculation around the event continues to grow, with the number of Google searches related to the term having skyrocketed in the past few days and Bitcoin passing $10,000 earlier today and reaching its highest peak since February.
Bitcoin has been the standout market performer, although most cryptocurrencies have seen gains of 2% or more. Monero has added nearly 8% to its price. NEO has gained nearly 6.5% and lesser-known 0x adding a quarter

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Bitcoin Price Wavers Around $9,000 with 5 Days to Halving

27 days ago

With just over five days left to the halving event, Bitcoin’s price has been wavering around the $9,000 mark but has reached new monthly highs, passing $9,300, at lunchtime trading. Analysts and investors only have just over five days to go until the Bitcoin halving event. Some investors remain adamant that the price will increase following the halving, pointing to the two previous events. In the year following the 2012 halvening, the price rose from $12 to $1,100 and peaked 11 months after the 2016 event, rising from $650 in July 2016 to $2,500 in May 2017.
Blockchain analysis firm, Glassnode, has reported that the number of unique addresses on the network has risen to its highest level since June 2019. This represents the total number of senders and receivers involved in transactions.

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Bitcoin Corrects Following Overnight Surge to $9,400

April 30, 2020

Bitcoin left the rest of the cryptocurrency market in its wake overnight, as it surged through $9,000 to peak at $9,450. It had previously fallen just short of the $9,000 resistance level. It is currently correcting gains, trading at $8,913 at the time of writing. The rest of the cryptocurrency market is still showing 24-hour gains against the dollar, but the likes of Ethereum, Ripple, and all other major cryptocurrencies plotted a similar course to the market leader with strong overnight gains followed by price correction.
The world’s largest cryptocurrency started the year at $7,200 and peaked at a high of over $10,000 in February, but the risk of the Coronavirus brought any further gains to a screeching halt in March. Prices hit a low of $4,000 before starting to make the climb back up

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Bitcoin Takes a Run at $9,000 – Rejected at $8,950

April 29, 2020

Bitcoin continued its strong recovery from the Coronavirus crash that marred its March results. The world’s largest cryptocurrency took a strong run at $9,000 this afternoon but was rejected at $8,950. It is now trading at $8,650 having fallen back, but it still looks likely that the crypto will post a seventh successive profitable week and securing a profitable April for the fifth year running. It only has to hold above the $6,428 mark to maintain a monthly profit. Having started the year at $7,200, Bitcoin has posted a 20% gain since the turn of the year and looks strong enough to take another run at $9,000 in the coming days. Today’s gains lend some credence to recent claims from bullish Bitcoin investors that the currency will eventually reach and surpass the $1 million value. With

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Bitcoin Breaks $8,000 As Whole Crypto Market Sees Profit

April 29, 2020

Bitcoin has bullishly broken $8,000 resistance, trading at $8,100 at the time of writing (12:15 GMT). Having spent most of Tuesday trading at the $7,700 mark, Bitcoin trading volume started to increase in the early hours of Wednesday, as prices first broke through $7,800 and then through $8,000. It reached a peak price of $8,174.85 on the Binance exchange. The cryptocurrency has now recovered its losses from the Coronavirus crash that occurred on March 12 and could have further gains ahead. The Bitcoin halving event takes place in 13 days, although many analysts are warning that macroeconomic factors like central bank monetary policies have a more important role to play in driving Bitcoin prices.
Bitcoin prices are up 4.5% in the past 24 hours, and its rise has caused the rest

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Bitcoin Crosses $7,700 After Closing Sixth Successive Week in the Green

April 27, 2020

Bitcoin continued its recovery over the weekend and closed out a sixth successive week in the green. It has posted modest gains over the past 24 hours, with the rest of the cryptocurrency market offering mixed results. Bitcoin and Ripple are the only two major coins to have added to their price in the past 24 hours, but the likes of Cardano, TRON, and Dogecoin have seen some positive movement.
Having crashed from $7,700 to $4,000 on March 12, amid the spread of the Coronavirus, Bitcoin prices have spent the last five weeks bouncing back, finally reaching their pre-pandemic levels at the end of last week and posting an 8.5% gain since last Monday and finishing a sweep of six successive weeks in the green. If the digital gold is to continue its fine run of form, it looks likely that it will

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Bitcoin Rallies to $7,500 – Highest Price Since Before the Coronavirus Crash

April 24, 2020

Bitcoin prices have surged above $7,500 in the past day, taking the world’s largest cryptocurrency back to the price it was trading at before March’s Coronavirus crash. The rise also means that Bitcoin is back above the $7,200 that it started the year at.
Analysts warn that there is major resistance overhead at $8,000, where it is also likely to meet the 100-day simple moving average. Bulls need to try and close above $8,000 today or could face a fall back to $7,200 support. Although most of the major coins have performed similarly to Bitcoin, with 1% to 2% gains, Teozos and Cardano have posted gains of around 10% over the past 24 hours. Stellar, yesterday’s big mover, has lost just over 1%.
Bitcoin had experienced a period of consolidation, lasting for around 5 days and seeing

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Bitcoin Retakes $7,000 As Cryptocurrency Market Waits for May Halvening

April 23, 2020

Bitcoin is up nearly 2%, trading at $7,150, following the passing of a new US stimulus bill that will provide $480 billion to businesses and hospitals. The market is still speculating as to why Bitcoin has not performed better during the Coronavirus pandemic, but with the digital gold’s halving event due in less than three weeks, attention is once again turning to the halving event that some portions of the cryptocurrency community refer to as “quantitative hardening”.

The Halving, or quantitative hardening as it were, coming to an exchange near you in May.
The last Halving saw a 300% spike, the one before that saw an unprecedented 80x jump in price.
With 18,000,000 BTC already mined, what will this one bring ?https://t.co/cBUZ2QLnDG
— Dinesh Nair (@alphaque) April 23, 2020

Critics have

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Bitcoin Dips Below $7,000 and Causes Crypto Market to Fall

April 20, 2020

Bitcoin has dipped below $7,000 for the first time since April 16 today and, in the process, dragged the rest of the cryptocurrency market down with it. The one cryptocurrency that has bucked today’s negative trend is Stellar, which has posted a nearly 14% gain. Meanwhile, traders should be prepared for a big move in the coming days as volatility has tightened to a three month low.
Bitcoin most recently crossed $7,000 resistance on April 16. Since then, it has traded between this level and a high of $7,280 with $7,000 flipping to form resilient support. However, earlier today, prices fell to $7,000. Although there was a brief period of recovery, digital gold continued through the support level and is currently trading just below $6,950: a decline of 3.82% over the past 24 hours.
There had

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Bitcoin Trying to Crack $7,000 Again

April 16, 2020

Bitcoin has been trading steadily at around $6,800 for the last week but, having dipped to $6,500 yesterday, the world’s largest cryptocurrency has made a positive move to take $7,000. Bulls will be hoping that it defends the position and flips resistance to support while waiting for the major Bitcoin halving event that is set to occur next month. However, while prices have steadied following the outbreak of Coronavirus and the subsequent calming of market nerves, the continued economic upheaval is still playing on traders’ minds.
Following the outbreak of Coronavirus and the global response to the outbreak, which has seen approximately one-quarter of the world’s population under some form of restricted lockdown, Bitcoin and cryptocurrency prices saw hyper-volatility. This volatility has

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Bitcoin Up 5% to $7,000 but Ethereum Leads the Cryptocurrency Charge

April 6, 2020

Bitcoin price is back above $7,000, currently trading at $7,150, having posted a 5% gain over the past 24 hours. The movement means that Bitcoin is now back level since the start of the year, despite crashing to a yearly low under $4,500 in March. The rest of the cryptocurrency is also seeing green, with Ethereum proving to be the pick of the big coins, adding nearly 10% to its prices and rising above $150.
Major exchanges have been reporting an uptick in the number of new users registering for their services, as well as an increase in trading volume. According to Coinmarketcap.com, the cryptocurrency market now has a total capitalization of $200 billion, which is some way short of the $260 billion a month ago but up from the $130 billion registered on the day US President Donald Trump

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Bitcoin Breaks $6,500 Following Poor First Quarter

April 2, 2020

Bitcoin prices ended the first quarter of 2020 down by 10%, having seen early yearly gains swallowed up by Coronavirus market panic. On the day, Bitcoin is trading 6% higher compared to 24 hours previously, with a single Bitcoin costing $6,648.21. The rest of the cryptocurrency market is also seeing green and total market capitalization is nearly back to the same levels as the start of the year, according to data from CoinMarketCap.com.
Having started the year trading at $7,200, it only took a few days for digital gold to start its march upwards passing $8,000 on January 7 and $9,000 on January 19. By February 12, the world’s largest cryptocurrency even broke the $10,000 resistance level, but its march was halted as the world got to grips with the reality of the Coronavirus. It was back

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Bitcoin Climbs to Retest $6,500 – Takes Cryptocurrency Market Up with It

March 31, 2020

Bitcoin has posted a 2% gain this morning, testing $6,500 resistance level and taking the rest of the cryptocurrency market with it. Bitcoin SV has led the way, its price increasing more than 5% over the past 24 hours. The gains come following a poor weekend performance that saw prices fall from $6,700 to below $6,000, and as investors continue to get to grips with the Coronavirus outbreak and the likelihood of its long-lasting impact on business and investment markets.
The world’s largest cryptocurrency spent the latter half of last week attempting to take the $7,000 position; a move that ultimately failed. Over the weekend, prices dropped from $6,700, at one point falling below $6,000. Prices recovered slightly overnight and Bitcoin has continued to trade at the $6,400 mark, testing

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Bitcoin Falls Through $6,000 Support

March 29, 2020

Bitcoin prices have continued their recent decline, falling to and through $6,000 resistance and now trading just above $5,900. Analysts had predicted a fall to $5,000 was needed before Bitcoin could fight back above its Year To Date highs. As is typical in the cryptocurrency market, Bitcoin’s movement has been aped by the rest of the market, with Ethereum Classic proving the only profitable coin of the top 50. Despite this, recent research shows the number of jobs in the industry has continued to increase, along with Bitcoin’s prominence on Twitter.
Bitcoin started 2020 on relatively ground, certainly by the volatile nature of the cryptocurrency market. On January 6, just a few days into the new year, Bitcoin’s unusually steady trading led gold enthusiast and well-publicized Bitcoin

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Bitcoin Struggling to Reach $7,000 but Cryptocurrency Market Seeing Modest Gains

March 27, 2020

Bitcoin has been trading between $6,500 and $6,900 for the past 72 hours, failing to take the $7,000 resistance and leading analysts to predict a fall in prices. However, as Bitcoin continues to trade horizontally, other cryptocurrencies have posted gains against the dollar compared to 24 hours ago. Of the biggest coins by market capitalization, Ripple has seen the biggest gains, rising more than 8% in the past day to its highest price in two weeks.
The world’s largest cryptocurrency suffered a major crash on March 12, falling from $7,900 down to $4,850, a decline of nearly 40% in 24 hours. The sharp fall was attributed to the outbreak and spread of the Coronavirus, with almost all major markets suffering as a result of the pandemic. Prices have recovered and stabilized since then, with

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Bitcoin Gains on Federal Reserve’s Continued Quantitative Easing Support

March 24, 2020

Bitcoin prices have risen 12% in the past 24 hours, following the US Federal Reserve’s announcement that they are further expanding their quantitative easing efforts. Two bills put forward by House Democrats have also suggested the introduction of a digital dollar and, even though the proposed currency would not be run on blockchain and would be controlled by the bank, it has given the cryptocurrency market some hope. At the time of writing, Bitcoin’s price was $6,750, the highest it has reached since March 12.
The Federal Open Market Committee announced yesterday that it would continue to expand its efforts “to support the flow of credit to households and businesses by addressing strains in the markets for Treasury securities and agency mortgage-backed securities.” The announcement means

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Bitcoin Continues Rally and Tests $7,000

March 20, 2020

Bitcoin has continued its rally with prices nearly reaching $7,000 earlier today, enabling the rest of the cryptocurrency market to turn green. Bitcoin SV has once again proved the pick of the bunch, adding more than 30% to its prices, but the majority of the top 50 coins by market capitalization have posted double-digit gains. Total market capitalization has remained up at around $190 billion. Major markets including the DOW and FTSE also made gains on the back of government incentives and legislation designed to ease financial suffering during the coronavirus outbreak. The pound has also continued to regain ground but, while oil showed some early positive signs, it is now trading down on the day. The Bank of America has announced that the USA is now officially in recession.

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Bitcoin Price Tests $6,000 but Gains Are Eclipsed by Other Cryptocurrencies

March 19, 2020

Bitcoin has bounced back from some of its recent losses, adding nearly 15% compared to 24 hours ago and having tested the $6,000 level.
The increases come as other markets experience uncertainty over the coronavirus spread tempered by economic relief being offered by governments. The FTSE has risen on the back of interest rate cuts put forward by the Bank of England, also pushing the pound to recover some of its recent losses against the dollar and the euro. Other European markets have also posted increases following the announcement that the European Central Bank (ECB) is providing a 750 billion euro stimulus package. Market figures suggest that forex traders are cashing in all of their holdings, including those typically thought of as a safe haven, in order to hold dollars, while there

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Hope for Bitcoin Bulls As Cryptocurrency Market Turns Green

March 17, 2020

Bitcoin prices have bounced a little following the recent crash that briefly pushed prices down to $4,500. The rest of the cryptocurrency market is also showing green, although analysts are divided over digital gold’s next move as the FTSE 100 shows major signs of investor uncertainty and the DOW closed nearly 13% down yesterday.
More than 180,000 cases of the coronavirus Covid-19 have now been reported, although the actual figure is likely much higher. Businesses around the world are being forced to shut down while travel between countries has been heavily restricted. Airlines and retail businesses are suffering major losses as a result of the closures, and share prices reflect this. Trading in New York was halted again, yesterday, as automatic circuit breakers triggered. When the market

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Coronavirus Continues to Wreak Havoc on Cryptocurrency Market

March 16, 2020

All cryptocurrencies in the top 100 are showing red this morning, with the exception of stable coins tethered to the Euro. The loss comes as a result of the continued spread of the coronavirus Covid-19 and despite the US Federal Reserve announcing a $700 billion plan to support the economy. Investors are worried that the Reserve has no more moves to make when the virus worsens.
The coronavirus Covid-19 continues to dominate headlines and determine market movements. More than 160,000 cases have been reported around the world with more than 6,500 deaths now confirmed. Recent figures also show that there are more cases outside China than inside the country, for the first time since the outbreak began. Italy has seen more than 25,000 confirmed cases and 1,800 deaths while Iran has nearly

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Bitcoin Crashes to Lowest Price in Nearly a Year

March 13, 2020

The coronavirus has continued to wreak havoc on the cryptocurrency market, with Bitcoin prices sliding below $4,000 in early trading and the rest of the market seeing red. The world’s largest cryptocurrency has shaken off its safe-haven investment tag and even though the currency’s price has increased by 30% since its lowest point this morning, it is still trading more than 15% lower than at the same time yesterday. BTC has now lost $1,500 since the start of the year, roughly equivalent to 20% of its price.
According to coinmarketcap.com, total market capitalization fell to $125 billion this morning, compared to $220 billion just 24 hours earlier: a loss of more than 40%. Following a slight recovery, the figure now stands at $160 billion. The losses have been attributed to the continued

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Bitcoin Prices Plummet Nearly $1,500 in an Hour amid Market Turmoil

March 12, 2020

Bitcoin’s price crashed more than $1,300 in a matter of minutes this morning, following the World Health Organization’s (WHO) categorization of Covid-19 as a pandemic and US President Donald Trump’s suspension of travel from the EU to the US. Prices have recovered a few hundred dollars but remain 20% down over 24 hours. The rest of the cryptocurrency market has followed a similar pattern with Ethereum, Bitcoin Cash, Bitcoin SV, and a host of other currencies losing 30%. The best performing non-stable coin in the top 100 is NEM, which has only lost 5% on the day.
The WHO yesterday announced that the Covid-19 virus is now officially considered a pandemic. The group had declared the virus a global public health emergency on January 30 but held off on declaring it a pandemic for fear that it

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Bitcoin Crashes Under $8,000 and Takes Crypto Market With It

March 9, 2020

Bitcoin endured dramatic losses over the weekend, mirroring huge losses experienced by stocks and especially oil. The losses can be attributed to further panic over the coronavirus, which continues to spread, and the failure of Saudi Arabia and OPEC nations to curb oil supply. Saudi Arabia’s pledge to increase supply further encouraged investors into safe haven investments like bonds. The price of gold has also increased a little on the day.
The continued spread of Covid-19 has plagued major markets in the past weeks. The US now has approximately 500 cases, a third death has been confirmed in the UK where the government is holding talks to discuss its next moves, and Italy has quarantined more than 16 million people in a bid to stem transmission of the disease.
The spread of the disease

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Bitcoin Holds Above $9,000 Following Retest of Inverse Head and Shoulders

March 6, 2020

Bitcoin has sustained yesterday’s price gains, holding the rest of the cryptocurrency market in the green. Analysts anticipate a move to $9,500 as the cryptocurrency confirmed a break above an inverse head and shoulders’ neckline.
Bitcoin prices broke above the $9,000 barrier in Thursday trading, pushing prices above the neckline of an inverse head and shoulders. The bullish pattern is not seen as a strong indicator in cryptocurrency trading, except when it follows a sharp decline in prices, as witnessed prior to this move, and unless prices retest the neckline, as occurred late last night when prices very briefly dropped back to support at $9,000. The target for the head and shoulders break is $9,500 to $9,550.

Bitcoin’s gains come while other markets are suffering at the hands

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Bitcoin Holding Above $9,000 As India Lifts Ban on Crypto Trading

March 5, 2020

Bitcoin prices have bounced back above $9,000, potentially thanks to news that India has officially lifted its ban on trading cryptocurrency. A 4% increase by digital gold has been mirrored by the majority of the cryptocurrency market. Analysts point to $9,550 as the next level for bulls, while bears will be pushing for a retreat below $8,713.
In April 2018, the Reserve Bank of India imposed a ban on cryptocurrency trading, which prevented banks and other financial institutions from offering any services that enabled the trading of cryptocurrencies. At the time of the ban, the Bank of India said the move was to prevent the “ring-fencing” of the national financial system and went on to say that cryptocurrencies could not be treated as traditional currency because they are not made from

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Bitcoin Starts Revival, Pushes Back Above $8,800

March 2, 2020

Bitcoin endured its worst weekly performance since November, last week, falling 13% and wiping away a portion of the gains made since the start of the year.
The cryptocurrency market wasn’t the only market to suffer, as stocks, commodities, and currencies tumbled amid fears of a coronavirus spread. More than 3,000 coronavirus deaths have now been reported globally. More than 90% of fatalities have been reported in Hubei, China, but there have been deaths in 10 other countries. The EU has, today, upgraded its risk assessment of the coronavirus for EU residents to “moderate to high” while UK Prime Minister, Boris Johnson, has said that the spread of the virus is “highly likely” but that a plan has been agreed to help tackle it.
The digital gold also posted an $800 loss for the month,

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Bitcoin Takes a Dive to $8,500 As Crypto Market Continues to Bleed

February 28, 2020

The cryptocurrency market has continued to fall, with bulls dragging Bitcoin prices down below $8,500 for the first time since January 26. It looks likely that the world’s largest cryptocurrency will finish the month on a loss, despite February being a traditionally bullish month for the digital currency. Bitcoin’s price has fallen 2% in the past 24 hours. Ethereum and Ripple have performed best of the big coins, although they have still posted losses, while Bitcoin Cash, Bitcoin SV, and Litecoin have all lost nearly 5%. ChainLink is the biggest cryptocurrency to post gains while Huobi is the only other coin in the top 20 largest coins by market capitalization to see green.
February has proven a bullish month in recent years. The world’s largest cryptocurrency has posted gains every

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