After several days of consolidation, Bitcoin jumped more than 4% on Tuesday, testing the $ 13,700 mark. At such levels, the first cryptocurrency traded short-term in June 2019. The strengthening of the bitcoin rate was observed against the background of a sharp decline in the American stock index S & P 500 the day before, as well as indistinct dynamics in the gold market. BTC's dependence on the stock market has almost disappeared. This is a positive signal not only for this asset, but for the entire cryptocurrency industry. Analysts associate the latest inflow of capital into the crypto sphere with the launch of a crypto exchange in Singapore (DBS Digital Exchange). The platform was established by the local bank DBS. According to observers, investors from Southeast Asia have intensified, as they have another channel to penetrate BTC.
BestNameEver October 28, 2020 Reply
Bitcoin gained 4.5% over the day and changed hands for $ 13,700, adding in price without significant bearish resistance. The rise in the price of Bitcoin is supported by a 23% increase in trading volume per day. The current growth momentum is fueled by the news of one of the largest transactions in Bitcoin history, worth more than a billion dollars in commission of $ 3.5. According to Whale Alert, the sender's wallet address belongs to the Xapo custodian.
Ram$ey October 28, 2020 Reply
Bitcoin has much more upside potential and won't stop at $ 13,000. I believe that Bitcoin price will hit $ 14,000 in the next few months. In case BTC does indeed break the $ 14,000 resistance level, the only known trading range that could offer resistance is the end of 2017 range when BTC was trading between $ 16,000 and its all-time high of about $ 20,000.
Philosopher October 27, 2020 Reply
The Greed and Fear Index balances around the “greed” and “extreme greed” values, being around 75. On the other hand, the closer the indicator is to 100, the more likely a corrective sell-off is. The RSI for BTC / USD is showing signs of starting a downward movement from the overbought zone. Bitcoin may show a significant spike in volatility on the last Friday of October, as Bitcoin options on CME expire on October 30 in the amount of $ 750 million. Closing this week above $ 13K could be a very serious fundamental indicator for further dynamics. Of course, the outlook will also be influenced by what happens during the week, but the close of the month, the expiration of futures and the ability to hold positions can be key factors that will push investors to buy.
l00k$_1ntere$1ng October 27, 2020 Reply
Bitcoin starts a new week near the $ 13K round level, once again under bearish pressure after rising above $ 13,100. Throughout the weekend, bears and bulls played tug-of-war with no obvious advantage on either side. Such price dynamics occurred with a gradual decrease in trading volumes, reflecting the expectation of new triggers. The best scenario for Bitcoin would be consolidation around occupied levels, which could lay the foundation for further growth.
RealSatoshi October 27, 2020 Reply
The RSI for the BTC / USD pair begins to decline from the overbought area, however, this is not a verdict for the Bitcoin rally. The approaching elections, the inability to agree on new incentives, as well as internal cryptocurrency news may well cause an increase in purchases in cryptocurrencies.
Voodoo_cat October 26, 2020 Reply
Over the weekend, bitcoin bulls and bears have been tug-of-war on either side without much success, leaving the rate close to $ 13,000. Thus, after a very short impulse, Bitcoin is consolidating again. Being close to an important area of resistance sets up some of the players for a quick rally. If this does not happen, quotes can quickly turn down.
l00k$_1ntere$1ng October 25, 2020 Reply
Thanks to the news feed, Bitcoin gained momentum towards levels above $ 13K after a 10-day hovering around $ 11.5K. Overcoming the important resistance area at $ 12K did not stop buyers, and now the bull-bear battle has moved into the $ 13K area, which is above the August highs. Bitcoin hasn't traded steadily above since January 2018, which allows us to consider a scenario of further growth with the potential for a return to the 20K area.
Gl0r1a October 24, 2020 Reply
Over the week, the Bitcoin Dominance Index rose 2%, indicating that player interest is focused on the first cryptocurrency. The greed and fear index of Bitcoin and the largest cryptocurrencies was in the "extreme greed" area, since last week it has grown by 21 points to 76. The higher the index value, the closer the moment of the start of the sale may be. The most important areas for investors to watch out for are the $ 13,600- $ 14,000 levels on the way up, and $ 11,600- $ 12,000 on the downward path. The approaching elections, decisions on incentives, as well as the dollar's reaction to everything that happens, can determine the dynamics of the first cryptocurrency in the medium term.
FortyN1nety October 24, 2020 Reply
Bitcoin rose sharply on Wednesday (+ 8%) amid rising gold and the strongest dollar weakening in almost two months. BTC tested the $ 12,850 level and surpassed $ 13,000 at the beginning of Thursday. At such levels, the first cryptocurrency was traded (except at the end of 2017) for only a few days in June and July last year.
TheSmartest October 23, 2020 Reply
Exit above the June-July 2019 highs of about $ 14 thousand is already a direct path to recovery to the 2017 highs, when the price rose to $ 20 thousand.
BestNameEver October 22, 2020 Reply
The Bitcoin dominance index increased by more than a percentage over the course of the day, approaching 61%. It turns out that altcoins have not yet supported the wave of demand, leaving the first cryptocurrency the flagship of growth. Among the most important factors supporting Bitcoin, there is a decrease in the dollar index, an increase in weekly P2P transactions to $ 90 million in the Bitcoin network (data from Arcane Research), an increase in the average Bitcoin transaction volume to $ 150K, and active attention to BTC on the part of institutions.
Marcion_Krups October 21, 2020 Reply
Bitcoin has overcome the important technical and psychological level of $ 12K, adding more than 4% per day. The price growth occurred with increased trade volumes. Along with the growth of cryptocurrency, there is an expansion of optimism in the stock markets, so that Bitcoin has a fairly high chance of developing growth from current levels. At current levels, Bitcoin is near the August peaks and also close to the June-July 2019 highs. Going higher is already a direct path to recovery to the highs of 2017, when the price rose to 20 thousand.
RealSatoshi October 21, 2020 Reply
Bitcoin is trailing around $ 11,500, coupled with relatively low (by modern standards) trading volumes of around $ 20 billion. Bitcoin has been in a sideways price trend for a week. Initially, such price dynamics were attributed to the consolidation process. However, the longer the sideways stretch, the higher the risk of failure.
FortyN1nety October 20, 2020 Reply
Although the price and trading volumes do not impress crypto market participants, institutionalists continue to show interest in bitcoin. So, it became known that the investment company Stone Ridge joined the investments of Square and MicroStrategy, having invested about $ 115 million in the purchase of 10,000 BTC. Crypto market participants believe that purchases from the three large public ones are a kind of beginning of a trend, not an accidental coincidence.
l00k$_1ntere$1ng October 18, 2020 Reply
11% of Bitcoin is held on the 5 largest crypto exchanges: Coinbase, Huobi, Binance, OKEx, and Kraken. Over time, in the crypto community, the question of whose are these bitcoins will become more and more relevant until they are withdrawn from the site. The answer will greatly disappoint the majority of participants in the crypto market: all cryptocurrencies in cold wallets of crypto exchanges belong to the management of these sites, but not to the investors and traders themselves.
NerdiusMaximus October 17, 2020 Reply
The correlation between Bitcoin and the S&P 500 has been intensifying over the past few weeks. The benchmark cryptocurrency has demonstrated its ability to mutually correlate, fluctuating between risky and safe status. At the moment, Bitcoin is prone to a risky regime. Therefore, in the near future, the situation around the stock market and incentives may have an impact on the first cryptocurrency.
Crypto_Bro October 17, 2020 Reply
Lately, bulls and bears have been testing each other for strength quite often, but so far Bitcoin still remains stable. After a $ 1,000 jump in the coin's price since the end of last week, bears have tried these levels several times, but so far Bitcoin is holding above $ 11K, and every time the price drops, buyers come to the aid of the first cryptocurrency.
AlwaysInGreen October 17, 2020 Reply
Bitcoin continues to run in the $ 200 range around the $ 11,500 level. Since the beginning of the day, there has been a slight drawdown to 11300. The Greed and Fear Index dropped 4 points over the course of the day and is in “neutral mode”, indicating that there is room for further growth. Nevertheless, the strengthening of the negative news background may well activate the bears, and in this case, it is important for Bitcoin not to break through $ 11K.
Dylanissimo October 17, 2020 Reply
At the beginning of this week, bitcoin updated monthly highs of about $ 11,700, after which the growth of the cryptocurrency stalled. On Thursday, BTC tried to break the $ 11,600 level, but it did not give in to the bulls. Bitcoin is now consolidating below the $ 11,600 resistance level. The main support area for bitcoin is now at $ 11,230 and $ 11,200. If it fails, the fall will slow at $ 11,000, after which the next target for the bears will be at $ 10,500.
Val-ly October 16, 2020 Reply
BTC consolidation may soon turn into a sideways trend, but at this stage it is quite good for Bitcoin and the crypto market in general. After rising by almost a thousand dollars, Bitcoin needs to gain a foothold at these levels, repel several bear attacks, and then crypto market participants will begin to view price levels around $ 11,500 as a kind of push-off point higher.
l00k$_1ntere$1ng October 16, 2020 Reply
In the short term, bitcoin needs to gain a foothold above $ 11,500 in order to target $ 12K directly. Since the end of last week, the first cryptocurrency has received positive impulses due to the news about investments in BTC from the institutional side.
NotaPonzi October 15, 2020 Reply
Bitcoin is overvalued and should be around 13% cheaper. At the moment, too many investors hold long positions in BTC, that is, they are playing to strengthen it. Some of these positions have already closed during the course of the exchange rate correction that began in September. During the month, bitcoin fell from $ 12,000 to $ 10,000, but then won back some of the losses and now costs about $ 11,300. The strengthening of BTC is partly due to the high interest of large companies and corporations such as Square and MicroStrategy in it. Since August, they have invested $ 50 million and $ 450 million in BTC, respectively.
Ram$ey October 15, 2020 Reply
A price rise above $12K would be the best way to support the positive sentiment in the market and direct new investments towards Bitcoin. In the meantime, we can observe the process of BTC consolidation near the occupied levels.
acc0untant October 14, 2020 Reply
Bitcoin has been losing less than a percent over the past 24 hours and changing hands around $ 11,400, remaining within the $ 11,300- $ 11,600 price range. In the short term, Bitcoin needs to gain a foothold above $ 11,500 in order to target $ 12K directly. Since the end of last week, the first cryptocurrency has received positive impulses due to the news about investments in Bitcoin from the institutional side.
l00k$_1ntere$1ng October 14, 2020 Reply
The sideways price trend could not last forever, and sooner or later the cryptocurrency would have to choose a direction. Square's investment in Bitcoin in the amount of $ 50 million could have been the trigger.It is difficult to call it a large investment from the company of $ 80 billion. Nevertheless, Bitcoin in this case receives more reputation benefits, since the situation generally indicates interest in cryptocurrency from outside Big money and institutions. Recent news of a $ 425 million investment in Bitcoin by MicroStrategy also confirms this.
Binary_Organism October 13, 2020 Reply
Historically, bitcoin has gone up for 12-15 months after each halving, rewriting all-time highs. While the current Bitcoin environment is different, crypto market participants are still betting on the leap based on this event. The crypto market is also looking to the future with enthusiasm due to the confidence of the miners, who continue to keep the hash rate at the all-time high.
TheSmartest October 13, 2020 Reply
Bitcoin has been adding about a percent in the last 24 hours and changing hands for $ 11,500. At some point during the night the price jumped to $ 11,700, but selling pressure prevented the upward momentum from strengthening. The growth of the reference cryptocurrency took place against the background of an increase in the trading volume, which additionally “cements” the positive price dynamics. Bitcoin capitalization has grown by $ 2.5 billion per day. Crypto market participants are already trying to estimate the probability of Bitcoin's “no return” below $ 11K, and the market sentiment is increasingly bullish.
Jimmy Chow October 13, 2020 Reply
The first cryptocurrency in the world, created by the Japanese programmer Satoshi Nakamoto in 2009, is at the top of the rating. Today it is the most popular virtual currency on the market and although its legal status may vary in different countries, bitcoin transactions are allowed in Japan, Canad...