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Gambling business mogul and Bitcoin SV proponent Calvin Ayre has just opened a decadent new headquarters on the island of Antigua. Ayre describes the new building as being the home of Bitcoin SV in the Caribbean.

The Canadian entrepreneur’s new global headquarters appears to have pleased Antigua and Barbuda’s government. Prime Minister Gaston Browne described it as the “most impressive building on the island, hands down”.

Calvin Ayre Opens Home of Bitcoin SV in Antigua

According to a report in the Antigua Observer, Calvin Ayre has just opened an extravagant new global headquarters. The five-storey building, called Canada Place, will be “home for various pioneering technologies”, the iGaming entrepreneur said at the building’s opening on Friday.

In a post to Twitter earlier today, Ayre stated that one of these pioneering technologies would be Bitcoin SV.

The new building is certainly impressive. It boasts a games room, employee lounges, a library, gym, and daycare centre. Calvin Ayre Group media relations representative Anika Potter claims the whole building can be run on solar energy alone. The employee car park roof houses a solar farm capable of transmitting 500 kilowatts.

This, and other environmentally-friendly touches throughout Canada Place, led Antigua and Barbuda’s Prime Minister to call it the “the most impressive building on the island, hands down”. At its opening on Friday, Gaston Browne also acknowledged Ayre as a “true partner” of Antigua.

Ayre described the building as a “$40 million investment into the Antiguan economy”. The Bitcoin SV proponent claims that the Calvin Ayre Group plans to employ greater numbers of locals throughout next year, with a hope to bring the total up to 600.

With regards the building’s purposely low environmental impact, he added:

“[I] fully endorse the government’s policy of seeking to transition from the use of fossil fuels to green energy. This magnificent complex is a symbol of this commitment to a pollution-free Antigua.”

It comes as little surprise to see Ayre making the island of Antigua his business headquarters. After all, the nation has long offered very favourable legislation for online gambling companies and Ayre himself has had business interests there for many years. However, it’s less clear how Bitcoin SV fits into Canada Place.

Ayre himself describes it as the new “home of Original #Bitcoin #BSV in that part of the world”. However, it’s not immediately obvious why a supposedly decentralised asset would need a central hub of operations in any part of the world.


Related Reading: Ripple Completes $50 Million MoneyGram Investment, Supporting XRP Use for Global Payments

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Rick D. , 2019-11-26 00:00:06

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

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Nick Chong , 2019-11-10 12:00:38

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