Archiv für den Monat: Oktober 2020

Bitcoin (BTC) reaches its high of the previous year – investors take profits

Bitcoin was able to continue its rally, rising to last year’s high of $ 13,858. BTC dominance can benefit from this bullish move and continue to rise as well.

However, a sale on the global financial market due to rising Covid-19 numbers has allowed the BTC rate to be significantly corrected in the last few hours

The key currency Bitcoin has not stopped and rose significantly northwards this week as well. On Wednesday, October 28th, the BTC price hit the 2019 annual high of 13,858 US dollars. First investors are currently taking profits. The Bitcoin Evolution price drops around $ 600 in the last hours of trading and at the time of this analysis is standing at $ 13,223. The assumption made in the last analysis that the key currency can further break away from the current correction in the classic market was thus confirmed. However, this situation can change suddenly as soon as investors get cold feet because of new corona risks and liquidate all assets.

Bullish scenario (Bitcoin price)

The current consolidation of the BTC rate is not surprising after the rally in recent weeks and in the medium term it is very healthy for a sustained rise in the key currency. It is now important for the bulls that the BTC rate does not slide below $ 12,492. From this level, renewed attempts to climb towards US $ 13,858 can be expected. If the bulls can dynamically break this mark higher than the daily closing price, the chances of a march towards the next price target of 14,805 US dollars increase. If the price of Bitcoin then stays above 13,858 US dollars, further subsequent increases in the direction of 15,814 US dollars and a maximum of 16,262 US dollars are to be planned. As long as investor interest continues unabated, there are 17,187 US dollars and 17. $ 810 other possible target areas. Only a significant break in these resistance levels would pave the way towards the all-time high of $ 19,882.

Bearish scenario (Bitcoin rate)

The bears are currently trying to build up some selling pressure. If the BTC price slips below the first important support at 13,198 US dollars, this would be the first sign of life for the bears. A first proper consistency test can be expected at $ 12,492. Increased resistance from the bull camp can be expected at this support at the latest. Only when the BTC rate slips well below this key support do the chances of an expanded rate consolidation improve. If the bears manage to break through the 12,492 US dollar daily closing price, a relapse to 12,307 US dollars and 11,806 US dollars must be planned.

If these two supports are consistently undershot and the US $ 11,500 also drops, the breakout level at US $ 11,099 will come back into focus in the coming weeks. In this area, bullish investors are likely to come back again and try to stabilize the BTC price. If the bears can win the battle for this chart mark and dynamically push the BTC price back below $ 11,099, the current price rally would be over for the time being. As long as the Bitcoin price can defend this mark, BTC prices can be expected to continue to rise in the medium term.

The Batman is coming to Ethereum… and you could have bought it for $ 200,000!

A Bat-signal sent to Ethereum – Non-fungible tokens (NFT) are more fashionable than ever. This time, it wasn’t cute CryptoKitties-style cats that created the craze, but unique tokens of Batman designs.

The sales records of “art tokens” are linked

The tokens ERC-721 network Ethereum (ETH) used to issue digital tokens unique , non-fungible. A very interesting idea for art objects and collectibles in digital version.

This October 17, works of art inspired by pop culture were auctioned on MakersPlace , a marketplace specializing in NFTs.

This is a set of 5 works related to the comic book character, Batman , the famous Dark Knight . They were created by comic book artist José Delbo and by cryptosphere artist Trevor Jones .

The NFT tokens are linked to image files (NPG type) and to a short animated video linking several images of the vigilante of Gotham City. It is in fact this last work, called „Genesis“ , which won the biggest auction .

Over $ 200,000 for the batman

The 5 pieces in this lot sold for a tidy sum of 540.86 ethers in total, or approximately $ 205,000 . Genesis, meanwhile, saw several bidders fight to get it. It was sold, on its own, at a price of 302.5 ETH – almost $ 115,000 .

“ Finally, the character emerges and our hero comes to life, looking directly at the viewer (…). “

The winner of the auction for Genesis is an anonymous , whose Twitter handle is Maxstealth (@ MaxStealth5).

Since his first appearance in 1939 , the character of Batman therefore seems to always attract, including now on blockchain.

Bitcoin Whale Clusters Point to Critical Levels BTC Should Maintain to Rise

Whale clusters show three critical support levels that Bitcoin must protect in order to see a higher high in the short term.

Bitcoin Whale Clusters (BTC) show three critical price levels to maintain a high market structure in the short term.

Whale clusters are formed when large investors buy Bitcoin and do not move it, generating unspent transactions. These clusters typically indicate where crucial support levels exist, and the logic is that BTC needs to maintain this level to see a prolonged boom.

According to Whalemap data, the three important support levels marked by whales are $10,407, $10,570 and $10,667.

Whale movements may signal the onset of a Bitcoin uptrend

Whales, individual investors with large amounts of Bitcoin, generally seek significant liquidity to buy or sell. This is because they deal with substantial buy or sell orders and manage this need by targeting highly liquid price points.

The accumulation of whales usually occurs when weak hands capitulate and usually a retail settlement in the midst of the peak of fear in the markets coincides with purchases of whales because there are large sales volumes to be absorbed.

In the last five days, there have been many unexpected reasons and events that could have driven retail investors to sell.

On October 1, the United States Commodity Futures Trading Commission (CFTC) accused BitMEX of violating the Banking Secrecy Act. Almost immediately thereafter, the BTC crashed 4.1%.

Then, on October 2, US President Donald Trump tested positive for VOCID-19. The president’s unexpected contraction of OVID-19 temporarily rocked the financial markets and added some selling pressure on Bitcoin.

The two events increased fear in the market for cryptomorphs and the price of Bitcoin fell from US$10,900 to US$10,500.

In the following days, the price recovered to $10,670 and this new resilience found corresponds to the whale clusters that formed on October 2.

Two technical factors can further boost BTC’s momentum

In addition to whale activity, there are two technical catalysts that can drive the feeling around BTC.

First, the rate of funding for Bitcoin futures at major cryptomorphic brokers is negative or neutral. When a funding rate is low, it means that most futures brokers are betting against the BTC.

An extended period of negative rates increases the likelihood of a short squeeze, which could cause the BTC to increase. One trader known by the alias „Byzantine General“ said:

„We are approaching Monday and funding is more negative. Especially at Binance, where most of the fish are. ”

In addition, since the CFTC’s charge against BitMEX, market data provider Glassnode reports that investors have withdrawn 45,000 BTC from the brokerage house. The shares were mainly transferred to Gemini and Binance, two of the leading cryptomaniac brokers.

Many industry experts have predicted regulatory action against BitMEX and the resulting Bitcoin outflow is not terribly surprising.

It can be argued that the output of BitMEX funds to two of the most trusted crypto brokers could benefit the overall market sentiment. Mainly because Gemini is considered one of the strongest brokers in the cryptosphere in terms of regulatory compliance.