Where Cryptocurrency and Fiat Collide

Where Cryptocurrency and Fiat Collide

The line between fiat and cryptocurrency is getting fuzzier. With the advent of Bitcoin 2.0 technology, we can now use cryptocurrency to exchange stocks, property, commodities, and even state-backed money. But if the whole point of cryptocurrency was to decentralize the financial system, what's the point of a dollar-backed coin? Dollar-backed digital coins have been attempted many times before. The Canadian government even tried to get in on the action, and unsurprisingly failed. Some claim that the first cryptocurrency to attempt this was Coinaaa, but this is technically incorrect.....


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Bitcoin Price Watch; Bulls on Steroid

che following chart ahead of this week’s closure. So, as the chart shows, we now have resistance to the upside at 926 fiat, and support to the downside is at 869 fiat. This is a very wide range, thanks to the prevailing volatility we have experienced. But as Bitcoin price is quite near the resistance level, we would prefer to apply our breakout strategy to compliment the prevailing upside action. That bring said, we will look to get in long towards an immediate upside target near 950 fiat. A stop at 919 fiat looks good. Looking south, if price tends to undergo bearish....

Quotes

There’s more work to do on DoS, but I’m doing a quick build of what I have so far in case it’s needed, before venturing into more complex ideas.

Satoshi Nakamoto, Bitcoin Developer