Bitcoin Reviews & Comments 2020



The bearish index of large speculators (the ratio of the number of contracts to sell to the number of contracts to buy) rose over the week by 0.06 to 1.61 (due to a reduction in purchases). Bitcoin COT data reflects the rise in bullish sentiment among large speculators. Major funds have been actively cutting their positions in the last week before the monthly expiration of futures. Purchases were reduced by 21%, sales - by 19%, which led to a decrease in the net position for a decrease in BTC by 14%. The continuation of this trend may contribute to the growth of the cryptocurrency. Small speculators in the last week mainly reduced their purchases, which they have decreased by 12%. Small speculators were marked by an increase in bearish sentiment, but this group of traders usually does not have a significant impact on the market.

Marcion_Krups   September 28, 2020  


Large speculators have reduced the net position for the sale of Bitcoin contracts by 0.40 thousand contracts to 2.48 thousand. Large speculative players reduced the net position for selling after a week of increase, and alternately reduce and increase it for 4 weeks in a row. Small speculators have reduced their net position for buying contracts for bitcoin by 0.40 thousand contracts to 2.42 thousand. Small speculators alternately reduce and increase their net position for buying also for 4 consecutive weeks. Hedgers left their net buy position unchanged at 67 contracts. Open interest decreased by 1.14 thousand contracts to 9.32 thousand.

Kelsey Bing   September 27, 2020  


At the beginning of the week, Bitcoin fell down along with European and American futures, as well as against the backdrop of a rising dollar. Uncertainty around the pandemic and the future policy of the Fed hit Bitcoin through the domino effect. However, as early as the end of the working week, speculation around a new bailout package returned an upward momentum to the traditional and cryptocurrency markets. Bitcoin returned to growth, however, only confident overcoming of the $ 11K price threshold level can convince market participants of positive prospects.

Rocketman   September 26, 2020  


Speculations around a new support package in the US have brought stock indices back up, pulling Bitcoin and the rest of the crypto market with it. At the end of the working week, the benchmark cryptocurrency is showing an increase of almost 4% to $ 10,700. Together with the price, the trading volume increased sharply, by 76%, which additionally cements the upward trend. The Greed and Fear Index for Bitcoin and the largest cryptocurrencies, although still in the “fear” mode, nevertheless jumped by 7 points to 46.

Armin van Dijk   September 26, 2020  


Speculations around a new support package in the US have brought stock indices back up, pulling Bitcoin and the rest of the crypto market with it. At the end of the working week, the benchmark cryptocurrency is showing an increase of almost 4% to $ 10,700. Together with the price, the trading volume increased sharply, by 76%, which additionally cements the upward trend. The Greed and Fear Index for Bitcoin and the largest cryptocurrencies, although still in the “fear” mode, nevertheless jumped by 7 points to 46.

NotaPonzi   September 25, 2020  


The European Commission presented the rules for regulating the digital asset market. Vice-President of the European Commission Valdis Dombrovskis said that the future of finance lies with digital technologies and spoke about plans to create a regulatory sandbox for companies to test their blockchain solutions. In addition, the Visa payment system announced the creation of an offline payment system based on cryptocurrencies. The company said that it is actively involved in the preparation of central banks' digital currencies and continues to explore the blockchain space. Another good news for the market was the news that the developers of the Tron blockchain have entered into a strategic agreement with the crypto custody company BitGo. Against the background of these messages, the bitcoin rate per day increased by 3.4% - to $ 10,656 with a capitalization of $197.2 billion. The positive news flow in the future may push cryptocurrencies to further growth. In a positive scenario, Bitcoin may rise in price to $10800.

TheSmartest   September 25, 2020  


Bitcoin confirmed its dependence on the stock market, sharply losing ground along with the traditional market on September 21 and continuing to move south on Thursday. The stock market decline earlier in the week was triggered by fears around the rise in the incidence of coronavirus, along with the Fed's warnings that the economy remains deep in a hole. Bitcoin dropped to $ 10,000 on Thursday, where the decline stalled.

Kim Lou   September 24, 2020  


Bitcoin tramples about $ 10,500 during the day, demonstrating almost zero dynamics during the day. We are observing sluggish price dynamics with trade volumes reduced by 23% over the past day. At a minimum, the good news is that the coin has stopped its sharp decline. Probably, this became possible due to the improvement of the situation in the stock market, which felt better after the discussions in the US Congress of new measures to support small businesses, voiced by Mnuchin and Powell.

Fabi0   September 24, 2020  


Bitcoin was able to get a small plus, however, the movement of quotations remains volatile, and they change sharply depending on the tone of the news coming to the market. The positive for the market was the results of a study by the service provider Evertas, according to which about 90% of institutional investors plan to buy more bitcoins in the near future. We are talking about funds and insurance companies that can increase their investment in this cryptocurrency over the next five years. In addition, the developers of the blockchain project Avalanche have launched their main network on the Binance crypto exchange according to the previously announced plan. Against the background of these messages, the bitcoin rate per day increased by 0.19% - to $ 10498 with a capitalization of $ 193.8 billion. With positive news coming to the market, Bitcoin could soon rise to $10600.

Casual Millionaire   September 23, 2020  


Bitcoin came under pressure from sellers earlier in the week amid declines in traditional markets. Major European indices such as the German DAX, French CAC and Britain's FTSE lost more than 3%. The dollar index, which reflects the exchange rate of the US currency against a basket of major world currencies, rose 0.7%. Investors are selling shares amid fears that a resumption of the rise in coronavirus cases in Europe could trigger another economic downturn.

N1ckk   September 22, 2020  


Bitcoin, like the rest of the crypto market, is trading in the red zone, losing more than 4% per day and changing hands for about $ 10,500. The decline in bitcoin occurred with a relatively stable trading volume of $ 30 billion. Nevertheless, the total capitalization of the crypto market fell by $ 19 billion over the course of the day. Bitcoin rolled down along with European and American futures, amid the growth of the dollar. The greed and fear index for Bitcoin and the largest cryptocurrencies switched within a day from “neutral” to “fear”. The stronger fears the market demonstrates, the closer the reversal starts and the more profitable the moment of entering the market.

1TrenT1   September 22, 2020  


During the week, bears have repeatedly tried Bitcoin for strength, pushing the cryptocurrency below $ 10K, but buyers immediately came to the rescue. By the end of the week, bitcoin remained at $ 10,300 by the end of the week, mostly within the range of $ 10,000- $ 10,500. Not necessarily, this sideways market will end with a sale, and the closest competitors to bitcoin in terms of capitalization are very far away, however, the experience of recent weeks shows that many new ambitious players appear on the market, immediately falling into the TOP-30, and sometimes in the TOP-10 cryptocurrencies in terms of capitalization, which may well become a threat to bitcoin in the medium term.

TheSmartest   September 21, 2020  


The last day of the working week, Bitcoin starts with almost zero change per day, stopping at about $ 10,900. During the day, the coin was falling towards $ 10,750, but received support from buyers from this level. $ 11K is an important area of resistance, and if bitcoin can still close the week above this level, the way is open for further gains with major resistance at $ 12K.

ComputerScientist   September 19, 2020  


The bitcoin greed and fear index grew by 5 points over the day to the "neutral" level. Thus, the indicator indicates that there is room for further appreciation. The RSI also confirms this. On the way of growth, the coin will first have to overcome the gravity of $ 11,500, and then make another attempt to take $ 12,000.

Know1tAll   September 19, 2020  


The limited supply of bitcoin is its main feature, making it a better store of value than gold, the total amount of which remains unknown. The two main factors proving the increasing demand for Bitcoin, the growing number of active Bitcoin addresses and the increasing flow of BTC to regulated exchanges. Additionally, the decline in BTC's volatility reflects its growing maturity as an asset class.

Harr1ot   September 18, 2020  


New investors are actively entering the bitcoin market and create upward pressure on prices. This month, the number of “new investment” wallets (between 1 and 3 months old and rarely sending bitcoin) rose to 2,250,467, the highest level since February 2018. This is twice as much as six months ago. In the second half of 2017, the number of “new investments” wallets increased from 791,289 to 2,000,000 (it was then that Bitcoin jumped to a record $ 20,000). It looks like new people are entering the market, buying bitcoin and transferring it to wallets for long-term investment.

TheSmartest   September 18, 2020  


Bitcoin withstood the pressure of bears at pressures below $ 10,000, which saved itself from further falling towards $ 9,000 and below. On the way of growth, the coin will first have to overcome the gravity of $ 11,500, and then make another attempt to take $ 12,000. The level at $ 12,500 will be the next frontier, the conquest of which can open a direct path to historical highs, because Bitcoin has not been able to gain a foothold higher over the past two years.

NotaPonzi   September 18, 2020  


The volume of bitcoins blocked in DeFi applications is growing, and this factor is added to the list of possible reasons for the growth of cryptocurrency in the medium term. The higher the volume of locked coins, the lower the supply of the asset in the free market, which means the higher the price.

Pint_of_Juice   September 17, 2020  


Bitcoin, which is limited to 21 million coins, was considered a defensive asset during the crisis. Large investors with capital from 1,000 to 10,000 BTC were buying up cryptocurrency in parallel with the growth of the USD money supply in circulation. But the fluctuations in the BTC rate are too great for most investors, the cryptocurrency itself does not have dividends or coupon payments and shows an increase in correlation with other asset classes.

DobbiezSock   September 17, 2020  


Due to the desire of governments to launch their own national cryptocurrencies, the leading EU countries have already advocated tougher regulation of stablecoins on their territory. Tightening the screws for stablecoins will likely lead to a new restructuring of the market towards greater independence from the traditional market, where Bitcoin may again be the winner, as it has the greatest recognition and the largest infrastructure for interacting with the traditional market.

BestNameEver   September 16, 2020  


Bitcoin hash rate has risen to a new high. According to the latest data from the Blockchain.com service, the BTC hash rate on September 14 reached 135.2 exaches per second (EH / s). Miners became active earlier this month. Moreover, computing power grew even against the background of the recent drop in the value of bitcoin. The growth of the hash rate suggests that miners are in anticipation of the imminent resumption of the BTC rally. Revenues of Bitcoin miners in August reached $ 368.3 million, an increase over the previous month of 23.19%.

NotaPonzi   September 15, 2020  


The 60-day correlation between Bitcoin and gold hit record highs above 0.5. The correlation between the two assets has been rapidly increasing since July amid a weakening US dollar. The fall of the dollar, which enjoys the status of the world's reserve currency, is positively reflected in limited emission assets such as gold and bitcoin. Nevertheless, while the correlation of bitcoin with the S&P 500 index continues to grow.

Ram$ey   September 15, 2020  


The situation on the crypto market depends on the dynamics of the dollar index, as well as the American stock market. Bitcoin is currently worth $10270. Buyers are trying to recover losses as the Nasdaq rises. They do not believe in the strengthening of Bitcoin, as important levels have been passed. If they fail to pass the level of $10950, and the pressure continues until the end of the week, then we should expect prices to fall below $9000. Since it all started with a fall in the euro, it is worth following the market reactions to the ECB meeting and Christine Lagarde's press conference, which will be held today. If the euro / dollar pair resumes growth after the meeting, then bitcoin will begin to recover with a delay of about 10 hours. For buyers to become active again, they need to pass the $ 10,950 and $12160 levels.

Harr1ot   September 13, 2020  


It is no longer with an eye to gain a foothold above $12000, but at the threshold of $10000. Over the week, bears have repeatedly tried Bitcoin for strength, pushing the cryptocurrency below $10K, but buyers immediately came to the rescue. By the end of the week, Bitcoin remained at $10300 by the end of the week, mostly within the $10000-10500 range. Not necessarily, this sideways market will end with a sale, and the closest competitors to bitcoin in terms of capitalization are very far away, however, the experience of recent weeks shows that many new ambitious players appear on the market, immediately falling into the TOP-30, and sometimes even in the TOP-10 cryptocurrencies in terms of capitalization, which may well become a threat to bitcoin in the medium term.

Amadeus   September 12, 2020  


Algorithmic trading has long penetrated into the cryptocurrency sector, which can also be seen from how well Bitcoin works out classical patterns of technical analysis in the form of overcoming moving averages or corrections from overbought / oversold. Recently, it has shown that not all sideways end with sales. A new principle “what does not grow is forgotten” is emerging, which is clearly seen in the DeFi sector and due to the rapid appearance of new participants in the TOP-30. This is a natural process, since the projects popular in the past, which for several years cannot break out of the established framework, cause fatigue among market participants.

TheSmartest   September 11, 2020  


By the end of the year, Bitcoin will be squeezed in a narrow range and will not rise above $ 12,500, and possibly a fall. There are several levels that traders should follow in order to seize the moment to buy. Bitcoin price is stuck between two levels - $ 8,900 and $ 12,500, Peter Brandt said in an interview with Cointelegraph. Until the end of the year, there is no need to expect serious movements. If the growth starts, it is likely to stop quickly, which will greatly disappoint the bulls. If the bears fall, a similar outcome is expected. I really don't expect anything for the rest of the year. There is a good chance that when the rally begins, the bulls will be happy but ultimately disappointed. The same with bears - when the fall begins, joy will be replaced by disappointment.

Reds4Life   September 11, 2020  


Crypto derivatives volume rose 54% in August to over $ 700 billion, setting an all-time high. Africa is predictably showing a large growth in demand for cryptocurrencies. Chainalysis data showed that transfers below $10K, which are attributed to retail investors and small businesses, jumped in June to more than $300 million. The number of monthly transactions exceeded 600 thousand. Over the next few years, we will see emerging economies become the engine of cryptocurrency development. Since the regulators of these countries are often far from being as fast and experienced as in developed countries, and mainly the young population is becoming more technologically literate, one can expect the development of a crypto impulse from these regions of the planet.

Manol0   September 10, 2020  


The crypto market weathered the recent blow, holding off a full blown selloff. Bitcoin is trying to bounce off $10000, although it lags behind the overall market recovery. As a result, the dominance index decreases further. Since the end of May, the Bitcoin Dominance Index has dropped by almost 12%. The total capitalization of the crypto market over the same period increased by $ 78 billion.

Julius_Irwin   September 10, 2020  


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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...

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