Bitcoin Reviews & Comments 2020

At the moment, market participants expect the upcoming $ 450 million Bitcoin options expiration on Friday. According to CoinTelegraph, at the moment the ratio of bulls to bears is 3: 1. However, the potential rise in volatility could trigger increased pressure from the least optimistic investors. If the positive news background does prevail and Bitcoin closes the week and month near $ 14K, it will clear the way for up to $ 20K. The positive scenario is also supported by the Grayscale study, the results of which showed that 55% of surveyed investors in the United States are interested in buying Bitcoin this year. This is 19 percentage points higher than a year ago.

Marcion_Krups   October 30, 2020  

Bitcoin's first attempt to overcome $ 14K in three years ended in failure. Sellers have intensified as the first cryptocurrency approaches $ 13,800 following the storm in the European and US stock markets. Fundamental sentiment in the crypto market is such that the larger the Bitcoin correction would be, the faster the rebound would be, since there is a clear demand in the market to open positions during pullbacks. Despite the decrease by 4% per day, from the beginning of the week the price has been adding 3%. In addition, Bitcoin's dominance index rose by more than a percentage point over the week. Thus, investors are reacting to a string of positive news about Bitcoin investments from large companies in the traditional sector. The latest episode was the news of a $ 300 million Bitcoin investment from BlockFi, which was made through Grayscale.

Philosopher   October 30, 2020  

The number of unconfirmed Bitcoin transactions exceeded 100,000 for the first time since the end of 2017. At the same time, the hash rate fell below 100 EH / s, for the first time since June this year. The consequence of these factors was an increase in the average value of commissions, which, according to BitInfoCharts, now stands at $ 11.67, which also corresponds to the largest level since the beginning of 2018. Analysts suggest that the decrease in hash rate is due to the end of the rainy season in the regions of China that are popular with miners and the movement of equipment to other parts of the country.

l00k$_1ntere$1ng   October 30, 2020  

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 fees of $ 3.5. According to Whale Alert, the sender's wallet address belongs to the Xapo custodian. This is hardly a matter of manipulation, rather, one can rather take it as a demonstration of the advantages of the reference cryptocurrency and the crypto market as a whole. The index of greed and fear for Bitcoin and the largest cryptocurrencies grew by 9 points in a day, returning to the “greed” mode, but so far there is room for growth. The RSI has entered the overbought area, approaching the 80 mark, but a sell signal should only be considered a decrease to the area below 70, and before that we can observe a very sharp rally.

RichardDd   October 29, 2020  

Bitcoin collapsed on Wednesday at a maximum of almost two months (-3.6%) amid a sharp decline in gold and stock indices. At the beginning of the day, the first cryptocurrency was testing 16-month highs above $ 13,800, but by the end of the day it dropped to $ 13,100. At this stage, for Bitcoin, the ideal scenario would be to break the correlation with the traditional market and move in the opposite direction. In addition, the $ 13,900 level remains of particular importance, which acted as resistance in July 2019 and support during a pullback from historical highs around $ 20,000.

Ilari0000n   October 29, 2020  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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  

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