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The total capitalization of the cryptocurrency market has grown by almost $13 billion to $336 billion in 24 hours. The dependence on what is happening in the traditional market significantly simplifies short-term Bitcoin price forecasts. However, most of this correlation is triggered at turning points for the traditional market, while the rest of the time Bitcoin can rely on internal factors as well. If the first cryptocurrency manages to close the working week significantly above $10K, there is a possibility of growth at the beginning of the new week. At the moment, the resistance level at $11K is an important point, after which we can talk about the recovery of the upward trend.

As the March collapse of the crypto market showed, digital currencies have a correlation with the traditional market, which becomes especially relevant in times of market collapse. In November, the US will host elections that could have a significant impact on the stock market, and therefore on Bitcoin. The cryptocurrency market expects a surge in volatility in connection with this event, however, there is no consensus on what the final effect will be for Bitcoin.

The DeFi market is qualitatively different from ICO projects. The industry has greatly improved and matured over the past few years. DeFi not only just raises money, this ecosystem makes it work. This is not a fake sphere, but a real market, whose participants receive income. Billions of dollars have already been invested in it, and the positive trend will continue. Over the past 90 days, the volume of assets blocked in DeFi protocols has grown by 632% - from $ 1.8 billion to $ 13.3 billion.According to the BTC on Ethereum service, the total market value of the Ethereum tokens pegged to the first cryptocurrency exceeded $ 1.1 billion.

Over the past 7 days, Bitcoin has lost more than 5%. However, the Bitcoin Dominance Index rose by almost 1.5% over the same week, as the liquidation of positions in altcoins occurs even more strongly. So, the leading altcoin - Ethereum (ETH) - lost 14% in 7 days, and Chainlink (LINK) lost more than others in the TOP-10 cryptocurrencies, having lost 23%. The Greed and Fear Index for Bitcoin and other major cryptocurrencies continues to plunge into the "fear" area, having declined by 10 points over the week. At the same time, this is a result of a fall in prices, but also an approaching rebound moment in case of extreme oversold.

As a rule, DeFi projects initially offer extremely high interest rates per annum to attract more users, but these are floating and rapidly declining. For example, the Spaghetti Money service on the first day offered a yield of 35,000%, after two weeks this figure dropped below 50%. Traders using this or that service receive payment in its tokens. Therefore, the final profit depends not only on how many coins you can earn, but also on the price of their sale. If it falls, the result will be below expectations.

At the end of last week, miners began to actively withdraw their mined bitcoins to exchanges, almost 3 times higher than the average value over the past 30 days. Now is the time to invest in Bitcoin and other digital currencies. You can buy cryptocurrency at the optimal cost by using its rollback.

The weakening of the BTC rate is associated with the activation of miners, which has been going on since the beginning of August. Mining pools bring cryptocurrency to exchanges for its subsequent sale, which increases the pressure on bitcoin. On Sunday, exchanges accepted 784 BTC from miners' wallets, which is significantly higher than the average value for the last 30 days of 265 BTC. Bitcoin may continue to decline if investors withdraw from risky assets to the dollar, as was the case in March.

The popularity of altcoins is growing, this is clearly seen in the decline in the bitcoin dominance index. Since the end of May, this indicator has shown a decline of 12 percentage points to 56.8%. At the same time, the total capitalization of the cryptocurrency market grew by $ 78 billion. A significant portion of these funds went to the sector of decentralized financial applications. The rapid emergence of new major participants in the crypto market also confirms this.

It is worth paying attention to the decrease in volatility in recent days, along with a cautious rise in prices. It looks more like a careful buying following the optimism of global markets, rather than relying on the prevalence of positive factors. Physically Delivered Bitcoin Futures on Bakkt saw record daily trading volume. Bakkt said there were over $ 200 million in Bitcoin contracts traded as of September 16, up 36% from the previous high. Thus, we see an increase in interest from institutional investors after some stagnation.

Institutional investors are wary of the Fed, fearing that without new support measures on the horizon, the pressure will soon return to the markets, which will also capture the crypto market, led by Bitcoin. At different times, different correlations were attributed to Bitcoin: with gold, stocks or geopolitics. CoinTelegraph has reported a rather unusual correlation between Bitcoin, avocado and Tesla. Assets have grown in tandem in recent weeks, attracting the attention of millennials. It is unlikely that such correlations will gain popularity in the market, but it is obvious that crypto market participants are trying to find some guidelines in order to explain the dynamics of the cryptocurrency in the absence of large triggers of a domestic cryptocurrency nature or from the external market.

To help blocking coins in applications, halving can serve, which, in fact, performs approximately the same function by reducing the reward for miners. At the same time, the link between traditional markets and cryptocurrencies should not be overlooked. The latter often act as another way to diversify the portfolio, therefore, they are vulnerable to major sell-offs along with other risky assets. Which turns out to be stronger: institutional investors or a decrease in turnover due to blocking coins in applications, will show the very near future.

Despite Bitcoin's dependence on short-term technical analysis signals, the market hopes for irrational growth and new impulses are really strong. Situations in which technical analysis and any gravitational pull in principle cease to operate are the strongest driving force in any market. Such anti-gravity for bitcoin can be a significant blocking of tokens in decentralized financial applications. There is already a precedent in the market with overcoming $ 40,000 (yearn.finance (YFI)), while the capitalization of bitcoin is significantly higher, and the response to the decrease in the number of coins in circulation can also be much stronger. According to DeFi Pulse, bitcoins worth over $ 1 billion are currently tokenized in applications on the Ethereum protocol. The total volume of the DeFi market is about $ 8.5 billion. The popularity of ETH protocols for gaining passive profit from holding Bitcoin may become the next price trend for the first cryptocurrency.

The real problem is not a pandemic. The real problem is America's huge debt. The United States is bankrupt, its national debt has grown to $ 28 trillion. Gold, silver, bitcoin are the best long-term investments. The US national debt exceeds $ 26.8 trillion. Earlier, the Congressional Budget Office of the country predicted that by the end of the fiscal year, debt would reach 98% of GDP. To combat the economic consequences of the coronavirus, the United States has chosen a policy of stimulating the economy by issuing additional money supply. Such measures lead to the depreciation of the dollar.

Bitcoin and gold will crash when an effective coronavirus vaccine arrives. However, then the best time to buy these assets will come. Such a drop in gold and bitcoin will be an excellent opportunity to buy these assets, which remain the "best" long-term investment that will help protect capital from the economic problems of the United States associated with large national debt.

The popularity of cryptocurrencies is growing this year, and the DeFi sector resembles the ICO of 2017. Cryptocurrencies are likely to rise in price in the next three months, but there is no need to wait for a massive update of historical highs. Cryptocurrencies are gaining attention amid geopolitical uncertainty and depreciation of national currencies as a result of unprecedented stimulus measures to support the economy. The conditions for the long-term strengthening of bitcoin have formed in the market. There are several macroeconomic factors that will drive increased demand for cryptocurrency.

Almost 10% of miners' rewards are spent on transactions for placing bitcoins on centralized exchanges, which creates the preconditions for further increasing pressure on bitcoin. On Sunday, the bulls tried to push the rate above $10500, but they again failed to overcome the resistance at this level. Bitcoin remains locked in a fairly narrow range just above $10000.

Central banks are preparing their response to digital currencies. It was revealed that MasterCard is launching a test platform that will allow central banks to test their own tokens. The launch of such national cryptocurrencies is likely to hit stablecoins in the first place.

In decentralized financial applications, not only ether or new stars of the crypto market like YFI are blocked, but also bitcoin. According to DeFiPulse, the number of bitcoins blocked in applications from September 2 to the present has grown by 31% to almost 88k BTC, showing an all-time high. More than half of the blocked bitcoins are based on the Ethereum platform at WBTC. The WBTC token itself duplicates the price dynamics of the original BTC. Thus, the developers have combined the basic characteristics of bitcoin and the flexibility of ERC-20 tokens. The token is fully backed by bitcoins.

DeFi Tokens have been an investment opportunity for a decade. Not taking this chance is like not buying Bitcoin in 2013 or Ethereum in 2015. But there is a lot of garbage in this industry. It is imperative to choose projects that develop a real product and have a fundamental basis for growth. DeFi is more likely to grow 100x in the next 5 years than Bitcoin. Bitcoin has already established itself as a digital gold and store of value. But its growth potential is relatively limited. DeFi is still in its infancy and quite underestimated. Given their potential impact on the entire financial world, there is tremendous scope for the price of these decentralized products to rise.

DeFi tokens that appeared 1-2 months ago have risen in price by thousands of percent and hit the top cryptocurrency ratings, although not all projects have an intrinsic value. Decentralized finance (DeFi) has become the main trend in 2020 in the cryptocurrency market. On the basis of Ethereum and other blockchain platforms, thousands of applications have appeared for trading digital assets and issuing crypto loans. Services for "profitable farming" received special attention, which offer thousands of percent of annual profitability for opening a deposit, but sometimes break down on the first day of launch.

The popularity of altcoins is growing, this is clearly seen in the decline in the bitcoin dominance index. Since the end of May, this indicator has shown a decline of 12 percentage points to 56.8%. At the same time, the total capitalization of the cryptocurrency market grew by $ 78 billion. A significant portion of these funds went to the sector of decentralized financial applications. The rapid emergence of new major participants in the crypto market also confirms this.

According to The Block, the OTC trading volume of the leading DeFi coins yEarn Finance (YFI), Synthetix (SNX) and Compound (COMP) has grown 8 times since the beginning of the year. Considering the recent impressive fluctuations of the same yEarn Finance (YFI), the opportunities for speculation in the DeFi sector are now extremely impressive.

The 60-day correlation between Bitcoin and gold hit record highs above 0.5, according to data from Coin Metrics. The correlation of the two assets has been skyrocketing since July, while the US dollar has declined against other major currencies. 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.

Staking in stablecoins has even greater potential, since in this case 2 most important qualities are combined: a stable token price and a significantly higher profitability than in the traditional banking sector, especially in its current state, when a fee can be charged for parking funds, not to mention income.

Over time, DeFi cryptocurrencies could squeeze out Bitcoin, but they have a big problem: they encroach on the financial monopoly of governments and banks even more. The situation can develop very unpredictably, but past events show that regulators have a finger on the pulse, and if significant competitors appear, they can make quick decisions, limiting the rights of the crypto.

Glassnode noted that despite the drop in bitcoin from $12000 to $10000, the number of "hodlers" (multiple incoming transactions without withdrawal of funds) increased by 2%. These investors are believed to have entered the market with long-term goals.

DeFi - a bubble or a bailout for the crypto market? At this stage, probably both. On the one hand, there are all the properties of a bubble, given the explosive growth in demand and capitalization of coins. On the other hand, this is the long-awaited "fresh blood" for the crypto market. The reason for the high popularity of the DeFi sector is the high interest rates on deposits. The annual profitability in the early days of launching such services is often thousands of percent, although this figure decreases over time due to the influx of users.

Everyone remembers halving, high price break-even for miners and the continuing need for large investors to find directions to diversify their portfolios. All of these factors will have to support Bitcoin in the event of a failure below $ 10K. In addition, there is a high demand for the purchase of cryptocurrency at a discount. Even the most notorious opponents of cryptocurrencies admit that the market has repeatedly found the strength to recover from the most severe and protracted depressions.

Top 10 upcoming ICOs

ICOs Rating Days left
1 DogData 5 35
2 2local 5 66
3 SerenitySource 5 95
4 Geco.one 5 96
5 Tycoon 5 96
6 Pawtocol 4.9 67
7 Curate 4.9 88
8 Ledder 4.9 96
9 IdeaFex 4.9 629
10 BitWings 4.8 4

Rating

Top 10 Crypto Brokers

Broker Status
1 FIBO Group information
2 XM information
3 OctaFX information
4 101investing information
5 T1Markets information
6 easyMarkets information
7 Orbex information
8 LH Crypto information
9 USGFX information
10 FOREX.com information

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Top 10 Cryptocurrencies

Сryptocurrency CVIX Price Change, 24h
Bitcoin 41 $10 649.89 1.36%
Ethereum 50 $346.67 0.92%
Tether 1 $1.00 0.04%
XRP 48 $0.239575 4.97%
Bitcoin Cash 63 $215.10 -0.19%
Polkadot 44 $4.39 2.41%
Chainlink 71 $10.24 11.72%
Binance Coin 67 $24.40 1.36%
Crypto.com Chain 54 $0.153667 1.93%
Litecoin 65 $45.85 2.55%

Rating

Top 10 Crypto Exchanges

Exchange Volume change, 24h
1 Binance 36.37%
2 ZG.com 2.65%
3 HBTC 13.25%
4 CITEX 11.02%
5 TAGZ Exchange 11.50%
6 Bidesk 14.76%
7 IDCM -11.63%
8 Bitribe 17.13%
9 Binance.KR 33.14%
10 Chiliz 16.90%

Rating