Dorsey is a long-time advocate of the digital currency, saying in 2018 the cryptocurrency will eventually become the world’s “single currency.” Last year, Square purchased about $50 million in bitcoin , representing about 1% of its . “If the internet has a native currency, a global currency, we are able to able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar,” said Dorsey. “And we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach.”
Technically, as we can see from the chart, Bitcoin broke the orange trendline and we expect a consolidation in this area that will fuel the next move to the upside (higher probability move). If the price reverses to the downside we can (lower probability) expect a retest of the .
Trade with care.
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.