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RE: BTCUSD - Technical Analysis October 6, 2017 - Current Price $4334
I think BTCUSD is being used as a gauge of the overall health of the market, sorta like how apple or amazon are in traditional equities. As well, regarding reg news, anything the regs apply to btc it can be assumed should be applied to all coins, just given the current climate.... so its a sentiment indicator.
That's an anarcho-sentiment if you ask me. And the odd thing is, we in Africa Nigeria took so long before Embracing BTC, otherwise i would have gotten loads of it and buy the heck outta Steem.