Inverted Bitcoin Price Chart Confirms Bear Market Bottom when Flipped Upside Down

Sometimes when assets consolidate and price action becomes exceptionally confusing, some crypto analysts will occasionally flip their Bitcoin price charts inverted in a way to try to remove any preconceived bias from their technical analysis. Buy Bitcoins in Nigeria blog (BBNB) reports.
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No, Bitcoin Price Is Not in a 2018-Like ‘Descending Triangle’ of Doom

Twitter is bearish, abuzz with chatter of a descending triangle that is forming on the Bitcoin (BTC) chart and with comparisons to the descending triangle that broke down in 2018 at $6,000.
Twitter is often wrong. Let’s first define the descending triangle.

Half Of All Bitcoins Are Spread Across 1,800 Wallets

The Bitcoin Whales Are Slowly Increasing Their Dominance, As Opposed To Retail Holders And Investors

The conducted research by PARISQ (a blockchain monitoring and compliance organization), stated that half of the entire BTCs in circulation is being held by only 1,800 wallets. The concentration of Bitcoins is 50 times higher than the concentration of global wealth, shows the report. Ethereum is even more concentrated – the ratio between Ethereum and global wealth concentration is 300:1.

Top Stories This Week: Bitcoin Bombshell, Libra Rivals, Twitter Spats: Hodler’s Digest, Aug. 19–25

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Bitcoin finally wins as Chinese Court Declared BTC Legal as Virtual Property

Bitcoin (BTC) has now been declared as a legally recognized virtual property by a Chinese court. As per the Hangzhou Internet Court ruling, Bitcoin has the characteristics to be regarded as a virtual property and thus owning Bitcoin will be legal in China. The court also said that the digital currency thoroughly meets the criteria of a virtual property’s definition as it is scarce, has value, and is disposable too. Moreover, all those who hold BTC will find themselves protected by the legal system of the nation, as first reported by The Beijing News.

‘Google Coin’ Within 2 Years as FANGs Will Go Crypto, Say Winklevoss

Digital currency will form part of all four FANG companies’ offerings by 2021, Tyler and Cameron Winklevoss told CNBC in a new interview on July 9.

Speaking about Facebook Libra, the twins, who co-founded cryptocurrency trading platform Gemini, said it was only a matter of time before other tech giants followed suit.