Bitcoin closed on Tuesday, August 21, 2018, at price of 6,707.64 USD (5,795.64 Euro, 31,647.99 Cedi, 2,421,390.96 Naira and 25,141,490.15 Shilling). It is up 400+ USD from the previous day. The positive momentum was due to the rumors that the SEC is considering the Bitcoin ETF.
The rumor resulted bitcoin to pass the 50-day moving average and hit resistance at the 200-day moving average. Sense Bitcoin could not pass the 200 day it is still considered to be in a bear market. The uptrend is a major surprise because many of the Bitcoin enthusiasts were predicting a massive sell-off due to the uncertainty of the ETF proposal by Proshare. The SEC deadline for the approval or rejection is August 23, 2028. My perspective is Bitcoin is here to stay; however there are a lot of people manipulating the market for personal gain.
Bitcoin Cash (BCH)
Africa Cryptocurrency bitcoin analysis.