Imagine being a rank and file individual in Turkey, you are going about your business when suddenly the price of every single imported good doubles– This situation makes the case for Bitcoin and here is why.

Imagine being a rank and file individual in Turkey, you are going about your business when suddenly the price of every single imported good doubles– This situation makes the case for Bitcoin and here is why.

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The latest news which influenced the price of Bitcoin.

**Nasdaq and Gemini plan a crypto-trading platform**

Nasdaq is aiming to become the first stock exchange participating the cryptocurrency trading. According to rumours, the Winklevoss brothers are going to help. On August, 16, [ICO Journal]( reported that Nasdaq and Gemini would unite to launch a cryptocurrency trading on the stock exchange platform. The source said:

*“Tyler and Cameron have moved the ball down the field in a meaningful way. Nasdaq, and its leadership, already are predisposed to finding an architecture solution and being the first to list actual tokens. Not just ETF’s or futures or some ‘derivative’ of the crypto apparatus […] but rather list actual coins. They are getting very comfortable with the structures they’ve seen from Gemini, and the other research they’ve done with exchanges of note. There is a timeline forming for this decision and it could be earlier than some might think.”*

Nasdaq is one of the first large exchanges that have become interested in cryptocurrency derivatives, such as [Exchange Traded Notes (ETN’s)]
( Now US Investors can buy Bitcoin at Nasdaq through their Retirement & Brokerage Accounts.
**McAfee at Doom’s Gate**

Remember the drama around the BitFi wallet? Well, it’s back in full force. Not only was the unfortunate wallet blown wide open — @spudowiar actually [played Doom on it]( The small touchscreen does limit his ability to Rip and Tear, but he still seems to be having fun.

At some point, @spudowiar stopped goofing around and actually [got the money out of the wallet]( by perpetuating the [Evil Maid Attack]( Andrew “Cybergibbons” Tierney [confirmed the transaction](, as well as the fact that the BitFi dashboard continues to work with the hacked device.

On the next day, Andrew received a threat from the BitFi team member and [informed]( his subscribers. McAfee, on the other hand, keeps laughing it all up and denying that anything happened.
**SEC Can’t Sneak Off**

The U.S. Securities and Exchange Commission (SEC) [is ready to approve]( or reject another pair of proposed ETFs ProShares.

ProShares initially proposed the futures-based ETFs in September 2017. But as the company itself noted that the bitcoin futures market was young, and the proposal was rejected.
Unlike the earlier decision on VanEck and SolidX, this time the SEC can’t take additional time for reflection by following their own rules. We might be watching history happen.

>**Technical analysis**


**What happened to Bitcoin This Week**

Since the last BTW price analysis Bitcoin has been on $5900 and $6625 levels and formed the ascending triangle pattern between them. And we know, that in most cases the price moves down from the triangle, especially from its corner. So it did with Bitcoin. After the breakout price declined to $6230 and now is pulling back. But the lower border of the triangle acts as a resistance line. Although it’s not very strong.

[4H chart](

Strong resistance zone is visible between $6525 and $6600 range, close to the upper border of the triangle.
Support zone is harder to identify, but we would say it is a $5800 point.
Indicators are in the middle range, so they can move in any direction. Making any specific conclusions is hard.

[1D chart](

The primary thing we can say about the daily chart is “it’s flat”. 20 range moving average is heading down, while 50 and 100 show us a sideways trend. And the price itself is moving inside a narrow channel: support zone is $5860 – $6000, resistance – $6640.

Stochastic is in the middle zone, just like on the 4H chart. But the MACD indicator on the 1D chart — which serves the strongest signals — is very close to the bullish signal. However, higher volumes on the bearish candles than on the bullish ones is not a good sign.

The conclusion is not so informative, as the Bitcoin price chart right now. Ascending triangle on a 4H chart gives the closest resistance zone. But the daily chart mainly shows us a flat market. We suppose that strong movement will not occur until the consolidation is over. Until then — wait and watch.

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