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Still Not Win, but BTC Investors Remain Optimistic

Oct 21, 2019

The Chinese company Canaan Creative, which is the world’s second largest producer of mining equipment, plans to sell more than a million bitcoin miners in 2020. At the same time, the company’s sales director announced a pre-order for 500 000 A10 and A11 AvalonMiner devices.

Of course, such demand for Bitcoin mining equipment is a bullish factor for the entire market. It is important to understand, that the cryptocurrency market is speculative and highly dependent on the market mood.

Even the slight increase in BTC, observed today, has caused a fairly strong reaction in the media and social networks. Analysts and critical enthusiasts predict a further short-term increase in BTC with the potential to update the current year’s highs.

Currently, BTC/USDT is trading in flat at 7,750 – 8,650. If the price approach to the upper border of the sideboard, the buyers will be ready to return to 9300. If BTC rises to resistance level 9300, MA200 will break through, which will also indicate a change in long-term bullish trend.

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