BITCOIN VALUE SINKS ON XT UNCERTAINTY

cryptocoinsnews.com / VENZEN KHAOSAN / 16/08/2015

The bitcoin value proposition is losing ground today as traders wake up to Gavin Andresen’s and Mike Hearn’s announcement of the public release of XT. The uncertainty introduced by the prospect of a hard fork of the Bitcoin block chain is expressing itself in the chart, and rightfully so: the fork and its bigger block size is technically hazardous and threatens the bitcoins we hold as well as Bitcoin itself.

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Bitcoin Price Analysis

Time of analysis: 07h49 UTC

Bitfinex 4-Hour Chart

From the analysis pages of xbt.social, earlier today:

Price is falling away to previous lows on some – and way below – in other exchange charts as the indicators clock up on divergence.

We do not have a clear idea of where this is heading, and members are encouraged to hold short until their dynamic stop loss forces exit. It is also possible to close your trade at significant levels (such as the current previous low) and to then re-enter trend, but – as with flying – take-off and landing are the most risky moments.

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