DAILY CRYPTOS ESPRESSO – news from 02 Aug 2019

Will Woo, a major crypto-analyst, has figured out a way to compare Bitcoin mining activity to market trends. According to his evaluations, we are on the verge of a new increase in value for BTC.

The IRS has sent letters asking crypto investors to either pay or state that they didn’t have any gains. Tax experts advise to amend previous returns and to pay.

Blockchain in Government

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  • New Bitcoin Indicator Suggests BTC Bull Run Just Getting Started

    The Daily Hodl    
    02 August 2019

    A new mathematical and graphical indicator helps decide where the Bitcoin price is going. Willy Woo, a prominent crypto analyst, tracks how many Bitcoins miners are selling, and correlates it with the market price. Miners usually sell some of their coins to pay for mining costs. The weakest miners sell more to remain operational, which lowers market price. Eventually, they give up when the price has gone too low. Hashing power and network difficulty reduce, and only the strong miners remain standing. They sell less, and the price goes up. Now Woo sees signs for a significant increase in Bitcoin value.

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