The price of Bitcoin rejected $11,500 in a swift price drop alongside rising shorts on BitMEX and slumping U.S. stocks.

The price of Bitcoin (BTC) rapidly fell after surpassing $11,500 on Binance between Oct. 14 and Oct. 15. Within two hours, it fell to $11,280, recording a 2.3% drop. After the fall, analysts are expecting another minor pullback in the near term.

Three factors likely caused the rejection to occur include a sell-off on BitMEX, a major resistance level and the stock market pullback.

Bitcoin dropped as soon as the Dow Jones slumped

On Oct. 14, the Dow Jones Industrial Average (DJIA) dropped by 0.58%, after initially seeing a minor upsurge.

As the trend of the U.S. stock market trend star ... Read more »

Category: News | Views: 33 | Added by: danyagames2007 | Date: 15.10.2020 | Comments (0)

Grayscale Investments has announced a record quarterly performance, raking in $1.05 billion in investments, mostly from institutional investors. The company also sees “unprecedented demand” for bitcoin cash.

Record Quarter, Over $1 Billion Added

Grayscale Investments released its third-quarter performance Wednesday. The company tweeted:

We just recorded our largest ever quarterly inflows – over $1.0 billion in 3Q20 – making it the third consecutive record-breaking quarter. YTD investment into the Grayscale family of products has surpassed $2.4 billion

Specifically, the company revealed that the total investment into its product ... Read more »

Category: News | Views: 32 | Added by: 4zvezda | Date: 15.10.2020 | Comments (0)

A Nigerian protest group called Feminist Coalition is asking well-wishers to make donations via bitcoin after authorities reportedly blocked the organization’s bank account. Feminist Coalition is one of the many groups spearheading protests against alleged police brutality by a Nigerian police unit, the Special Anti-Robbery Squad (SARS).

Before the blockade of the bank account, Feminist Coalition says it had used donations raised through the account to fund 90 protests across the country. By closing the bank account, authorities are attempting to suffocate a movement whose success has brought the spotlight on crimes committed by security forces.

An announcement on Sunday, October 11, 2020, by the Directo ... Read more »

Category: News | Views: 36 | Added by: 4zvezda | Date: 15.10.2020 | Comments (0)

The veteran trader says bullish trends make shorting the current correction a dangerous move, and the dip “may already be over.”

Bitcoin (BTC) is bullish in three key areas and a “perfect” buy-in is now no lower than $11,000, popular trader Tone Vays says.

In the latest edition of his Trading Bitcoin YouTube series on Oct. 14, Vays presented an optimistic take on the Bitcoin price, which he argues has barely any bearish characteristics.

Vays: $11,000 zone is “perfect” dip

Examining the weekly and daily charts, Vays noted that there was little reason to expect a significant pullback beyond a “one to four-candle correction.”

This is ongoing, with BTC/USD con ... Read more »

Category: News | Views: 33 | Added by: danyagames2007 | Date: 15.10.2020 | Comments (0)

The MVRV ratio is firmly sticking to its 2-year uptrend, with support in place for fresh all-time highs, says Stack Funds.

Bitcoin (BTC) has support to climb all the way to $15,000 if historic trends repeat themselves this year, a new report says.

Compiled by crypto index fund provider Stack Funds on Oct. 15, the report highlights Bitcoin’s market cap vs. realized cap ratio (MVRV) fuelling gains, which could smash $12,000 resistance.

Report expects “significant break” in MVRV

Bitcoin has yet to attempt a breakout of $12,000, seeing rejection at $11,700 this week. This has failed to dent optimism among analysts, who believe that $11,000 will provide solid support.

Going forward, howev ... Read more »

Category: News | Views: 34 | Added by: danyagames2007 | Date: 15.10.2020 | Comments (0)