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‘Fake News’: Russian Official Reportedly Denies Involvement with Petro

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The Russian government is pushing back against reports that it helped Venezuela launch its controversial “petro” cryptocurrency.

In public remarks Friday, the deputy director of the Information and Press Department of the Russian Foreign Ministry, Artyom Kozhin, called Time Magazine’s report linking Russian officials and businessmen to the petro “fake news,” Tass reports.

Adding that the report “is a blatant lie,” the official continued“IN NO WAY, HAVE THE RUSSIAN FINANCIAL AUTHORITIES EVER PARTICIPATED IN THIS PROJECT. DURING THE COURSE OF THE MEETING HELD ON FEBRUARY 21, 2018 IN MOSCOW, VENEZUELA’S MINISTER OF ECONOMY AND FINANCE MR. [SIMON] ZERPA INDEED HANDED OVER A BOOKLET ON THE CRYPTOCURRENCY TO THE RUSSIAN FINANCE MINISTER EXCLUSIVELY FOR THE PURPOSE OF INFORMING RUSSIAN PARTNERS ABOUT THIS PROJECT.”

The Time report noted connections between certain Russian businessmen and Venezuelan president Nicolas Maduro, further claiming that Russian president Vladimir Putin signed off on the petro, possibly to assist the evasion of U.S.-led sanctions.

The news came on the heels of U.S. president Donald Trump signing new sanctions into place, prohibiting Americans from buying or transacting with the petro, as previously reported.

Tass also reported that Maduro has claimed a number of trading pairs for the petro, including the Russian ruble, Turkish lira, euros and the yuan. Investors will be able to trade for these currencies beginning Friday, he said, though it is unclear where they can do so.

Kremlin image via Shutterstock

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Bitcoin

Bitcoin could hit $62k by end of October, claims trader

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As Bitcoin (BTC) is testing new resistance levels above $9000, one trader has pointed out that the momentum could be even stronger than it looks. If a pattern from 2017 is anything to go by, the top crypto could rise well above its all-time high.

Crypto trader Galaxy (@GalaxyBTC) pointed out that the week preceding today has seen a similar candle set-up to one that occurred back in 2017, when the last big bull run was building up steam.  

After that week’s price action, BTC then saw a price increase of 570 percent. This happened over the course of 147 days, just under 5 months. If this pattern happens again in the same way, BTC will be trading at around $62,000 by the end of October. 

Opinions about this prediction on Twitter were divided. Some agreed with the assessment, with one observer pointed out that they made a similarly bullish claim not long ago. Others questioned the analysis, and suggested that the user was just making outlandish predictions to get followers.

Source.chepicap

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Bitcoin: Third coming of the green Super Guppy buoys bulls as price consolidates over $9,000

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Bitcoin broke out of its sluggish blues by breaking the $9,000 mark for the first time in 13 months, earlier this week. With several analysts pegging the rise of Bitcoin to be a consequence of the Facebook Libra pump, a more wholesome look at the charts indicates a more consolidated rally, rather than a myopic push.

A recent piece of analysis by Josh Rager, a cryptocurrency analyst and advisor for Token Bacon and Level Invest, revealed that the Bitcoin market was primed for an upswing that will mirror previous bullish rallies of 2012 and 2016. Facebook might have been the catalyst to push the market out of the June slump, but Libra cannot prolong the high, and by the looks of it, the market is likely to march forward on its own.

The Super Guppy indicator which indicates trader behavior based on sets of moving averages, has flipped from red to green on the weekly Bitcoin chart, indicating a sustained bullish swing to the market. As mentioned previously, this is the third coming of the green-switch on the weekly BTC chart; the first two saw the price of the cryptocurrency surge to $1,000 and then to nearly $20,000.

Source: Twitter

Rager posited the historical price movements of the cryptocurrency based on the first two occasions of the Super Guppy indicator flipping green. With reference to the recent flip, he stated that the market is likely to be “bountiful,” for “the next few years,” given the manifestation of the “flip,” in the month of June 2019.

His full tweet read,

It’s finally here…

The Bitcoin Super Guppy has flipped green on the 1-week chart

2012: 400-day uptrend followed a flip green

2016: 700-day uptrend followed a flip green

2019: the 1W Super Guppy has finally flipped green and it shall be a bountiful market the next few years pic.twitter.com/6zAn1qgtBy

— Josh Rager  (@Josh_Rager) June 18, 2019

The price of the top cryptocurrency in the market has been on a rollercoaster ride since the beginning of April 2019. With the breach of the 200-day Moving Average on April 2, Bitcoin’s price took a turn for the better, which according to Fundstrat’s Thomas Lee, was the key trigger to the bullish market. Further, the king coin’s “Golden Cross” was realized in April, something that had previously taken the coin to an unprecedented high in December 2017, before switching to a “Death Cross” last year.

At a time when the likes of Fidelity, Facebook, and JP Morgan are veering towards the cryptocurrency market on the big-name side and at time when Bitcoin is trading within the Golden Cross and its Super Guppy has flipped green, the price can only consolidate from this point on and move higher.

Source :ambcrypto

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Bitcoin (BTC/USD) forecast and analysis on June 18, 2019

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Cryptocurrency Bitcoin (BTC/USD) is trading at 9096. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Bitcoin (BTC/USD) forecast and analysis on June 18, 2019

As part of the Bitcoin exchange rate forecast, the test level of 8950 is expected. Where should we expect an attempt to continue BTC/USD growth and further development of the upward trend. The purpose of this movement is the area near the level of 9820. The conservative area for buying of Bitcoin is located near the lower border of the Bollinger Bands indicator bars at the level of 8050.

Bitcoin (BTC/USD) forecast and analysis on June 18, 2019

Cancellation of the option to continue the growth rate of Bitcoin will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below the 8020 area. This will indicate a change in the current trend in favor of a bearish for BTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Bitcoin (BTC/USD) forecast and analysis on June 18, 2019 implies a test level of 8950. Further growth is expected to continue to the area above the level of 9820. The conservative area for buying Bitcoin is located area of 8050. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 8020. In this case, we can expect further the fall.

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