Bitcoin seems to be finding support at 710

CryptoGuru Level X³

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November 10, 2016, 8:46 am

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Bitcoin seems to be finding support at 710

This is a great time to be alive! The Cubs won the world series, a women almost won presidency, and Bitcoin is rising above 700. So many monumental events taking place in America over the last few months its amazing. How has all this affected Bitcoin though? The Big bad digital currency is now above 700 and i believe is finding support at 710. If this is true i would say now is a good time to invest. Lets check the chart and see what we can find out from the last 24 hours.





Due to the uncertainty of the US election the markets have been stagnant some not moving at all. After Trump got elected the price shot up to 720 and as you can see from the red line on the chart the price slowly fell to 700. Since early this morning we have been seeing an uptrend to the current price of 710. This time when Bitcoin dropped it did not fall below 700 like it did previously. What does this leave me to believe? That Bitcoin has found a new low resistants of 700 and should not fall below that number again for awhile. I would say if you caught it at 700 hold onto your coins. If your looking for a good time to invest your cash i would wait for 705 701 to come around again and buy and hold.

We are a few days away from the scaling code being applied to the block chain. We already know that means we will see an increase and that translates into a good trade. When it comes to crypto currency im doing my best to keep you guys updated. If any of you have invested please share your experiences with me and with the community.

As always thank you for reading please don't forget to follow me and like the topic.

https://listingdock.com/user/jkeyz2

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Lynne

Lynne

I was so wondering what effect the USA elections were having on Bitcoin so it is nice to see that all explained and covered here Jkeyz2, so thank you.

Every time you post an update about Bitcoin prices I hurry on over to eToro to check what is happening with my Bitcoin in my virtual account.

When the price rose so beautifully previously I made over $30 in virtual money from $150 virtual investment (yes play play LOL) then I added another $150 to that and the Bitcoin price fell... so now my earnings have dropped from $30 to $817...

I am now watching again to see what happens! Thanks so much for the Bitcoin update!

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CryptoGuru

CryptoGuru

Even with a demo account my techniques are still valid. If you see a drop do not sell your currency that is the only way you will lose money. Instead just sit back and wait for the price to correct itself. Ina few weeks the price will be up over 750 and you will be back into the green. Be active once you see the price goes up cash out rite now is a good time to buy ETH. I hope i can help you one day make some real money! Thanks Lynne!

0 8 years ago

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Cristian

Cristian

I expected bitcoin to go up if Trump would win the US elections but its kinda surprising the reaction the markets had, because at first, they were going towards a negative trend, something similar with Brexit, but recovered very quickly and even gained a lot since.

At the moment bitcoin is still around 700 bucks so it hasn't gained a lot but didn't lose either, will gladly follow its development in the weeks to come, I wonder if it passes the 800 mark by the end of this year.

0 8 years ago

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CryptoGuru

CryptoGuru

Thats the hope man. It was suppose to be passed 750 already so nothing is going as planned. A rally did happen after the trump win but it dropped again.

0 8 years ago

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Corzhens

Corzhens

Pardon me if this is not directly relevant to the discussion’s topic. I have seen one news report on cable channel that the Chinese is now positioning themselves as the dominating factor in Bitcoins and other cryptocurrency. I shudder at the thought that the Chinese will be controlling the value of Bitcoins because they are shrewd when it comes to business. Bitcoin users will be at the mercy of the Chinese and it’s not good in my book.

0 7 years ago

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