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Bahadır's avatar

Thanks for your technical analysis. In order for the conditions to improve, it is necessary to exceed USD 50,000 in a short time.

I would like to talk about a fundamental analysis I did today. It can leave a positive impact on the BTC price.

BlackRock, the world's largest asset management company, made huge investments in Bitcoin mining companies in the second quarter of this year. The company has just revealed that it has invested $382 million 962 million in Marathon Digital Holdings and Riot Blockchain, according to a June 30 U.S. Securities and Exchange Commission (SEC) document.

With this investment, BlackRock's share in Marathon was 6.71% and in Riot Blockchain 6.61%. According to details given by Forbes media, the asset management company spent $206 million on its investment in Marathon and $176 million on Riot. These figures are a huge investment for the companies themselves.

I appreciate BlackRock company. He first stepped into the cryptocurrency universe in 2019 by hiring Robert Mitchnick, Ripple's product marketing manager at the time. Mitchnick currently works under BlackRock and is the manager of distributed ledger technology and digital assets.

As it is known, after the closure of miners in China, the difficulty level in Bitcoin mining dropped to a record level. With the difficulty falling, the undisturbed miners, which got ahead of their competitors, mined more Bitcoin. In other words, it is obvious that both US-based companies benefited heavily from the bans in China and made a profit.

Bitcoin is now traded in the center of a nation that support it.

Thank you for reading. I wish you a good day.

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Sezgin25's avatar

I totally agree with you and I think these indicators will work.

I think we have an uptrend ahead of us.

The probability of a drop seems very low.

I believe that if we exceed forty-seven thousand, we can easily exceed fifty thousand.

Looking at the equality graph, I think there may be some correction, but if it exceeds forty-seven thousand, fifty thousand will be easily seen.

The Fibonacci levels are also bullish.

We can follow the definite resistance points that there will be an increase in general and make inferences.

Thanks for the article Phantom Puppeteer :)

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