A fresh record for BTC price action on U.S. election day means that $100,000 could now form a price target, historical data suggests.

Bitcoin (BTC) has officially beaten a new record as BTC/USD trades above $10,000 for 100 days, and major gains should come next.

As voting in the United States’ presidential election ended on Nov. 3, Bitcoin saw a landmark moment of its own — 100 days straight trading in five figures.

Bitcoin sees record stretch above $10,000

The achievement is not just impressive as a record for $10,000-plus prices. According to previous data, once Bitcoin trades above these significant price levels for 100 days, BTC/USD swiftly increases by an order of magnitude.

As Cointe ... Read more »

Category: News | Views: 37 | Added by: danyagames2007 | Date: 04.11.2020 | Comments (0)

Bitcoin’s price has been holding up quite well despite the volatility seen yesterday that came about due to a turbulent election that has yet to deliver any decisive results.

This price action has done little to contribute to its mid-term outlook, however, as it is still trading below the resistance it has been facing around $14,000.

Traders are widely noting that the cryptocurrency could be poised to see some significant upwards momentum in the near-term. One trader is specifically setting his sights on $14,400, noting that its price action has been “beautiful.”

Yesterday evening, however, the cryptocurrency did see a move up towards $14,100, but the selling pressure here was significant and instantl ... Read more »

Category: News | Views: 37 | Added by: danyagames2007 | Date: 04.11.2020 | Comments (0)

The price of Bitcoin (BTC) rose to $13,900 after declining to sub-$13,500 on the day. The catalyst behind BTC’s abrupt rally was likely the decline of the U.S. dollar, which fell after the election day.

As the dollar slipped, Bitcoin, stocks, and treasuries rallied together. The Dow Jones spiked by 2.24%, surging by nearly 6% in the past five days.

Albeit the strong momentum of Bitcoin, there are several worrying signs in the near term. The risks BTC faces in the short term include a high percentage of profitable addresses and a large resistance area.

... Read more »

Category: News | Views: 37 | Added by: danyagames2007 | Date: 04.11.2020 | Comments (0)

The price of Bitcoin suddenly fell by 3% within hours alongside the U.S. dollar, gold and stocks as the outcome of the U.S. election is still up in the air.

The price of Bitcoin (BTC) suddenly fell by 3% within hours on Nov. 4 to $13,566 after briefly rising above $14,000. Coincidentally, the U.S. dollar, gold and stocks all fell together in tandem.

Analysts are pointing to uncertainty surrounding the election as the catalyst for the sharp correction.

... Read more »

Category: News | Views: 38 | Added by: danyagames2007 | Date: 04.11.2020 | Comments (0)

Bitcoin has undergone a strong rally since Monday’s lows of $13,200. The leading cryptocurrency currently trades for $13,900, up 3.2% in the past 24 hours. Bitcoin is trading slightly below its daily highs of $14,100, which it breached earlier today when the U.S. Dollar dropped rapidly.

While Bitcoin is still failing to hold above $14,000, analysts think that the coin could continue higher. $14,000 has long been an important level for BTC, holding as resistance in 2019 and marking the 2017 yearly candle close in notable fashion.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

Bitcoin Could Move Higher, Historically Accurate Analyst ... Read more »

Category: News | Views: 33 | Added by: danyagames2007 | Date: 04.11.2020 | Comments (0)

Bitcoin traders braced for uncertainty as Donald Trump and Joe Biden entered a tight US presidential election race.

The benchmark cryptocurrency surged overnight to above $14,000 in a sharp upside. Its gains came on the prospects of a decisive election win for Biden. But with Trump winning several battleground states in a row, Bitcoin plunged lower up to 3.92 percent from its local top.

Around midnight Wednesday, the BTC/USD exchange rate was at $13,530, its intraday low.

... Read more »

Category: News | Views: 40 | Added by: danyagames2007 | Date: 04.11.2020 | Comments (0)

The launch of Ethereum 2.0 (ETH2 or Serenity) has long been expected. It was first slated to arrive earlier this year, but multiple delays have pushed back the launch date to ensure that security is maximized.

There was recently a scare that it was delayed once again. Ethereum Foundation researcher Danny Ryan said that the deposit contract for ETH2 may be delayed once again:

“This library is critical to creating keys, signing messages. Critical, in early phases, [means] that if you use this library, they need to be secure; if you use it to generate your wallets, it needs to have good randomness; and if you are signing your deposits which have a signature associated, it needs to b ... Read more »

Category: News | Views: 38 | Added by: danyagames2007 | Date: 04.11.2020 | Comments (0)

Bitcoin price remained well bid above $13,300 and started a fresh increase against the US Dollar. BTC is back above $13,700 and it is likely to continue higher in the near term.

Bitcoin started a fresh upward move after it found a strong support near $13,300.
The price is now trading well above $13,600 and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $13,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is consolidating gains above the 100 hourly SMA and it could climb again above $13,800.

Bitcoin Price is Showing Positive Signs

After retesting the $13,300 support zone, bitcoin price started a fresh increase ... Read more »

Category: News | Views: 57 | Added by: danyagames2007 | Date: 04.11.2020 | Comments (0)

Grayscale is on track to control 5% of the entire Bitcoin circulating supply by the end of 2021 with a record $215 million inflow last week.

Grayscale’s Bitcoin (BTC) Trust is on track to reach 500,000 BTC by the end of 2020. 

Last week, Grayscale saw a record inflow of $215 million (15,907 BTC) that surpassed all previous investments into the Trust. The firm now holds $6.7 billion (481,711 BTC) as of the time of writing.

Should the firm continue last month’s growth-rate of 32,000 BTC, Grayscale in on track to hold 500,000 BTC (2.7% of circulating supply) within three weeks. By the end of next year, if the rate is consistent, Grayscale could control 926,600 BTC — equal to 5% of Bitcoin’s to ... Read more »

Category: News | Views: 42 | Added by: danyagames2007 | Date: 04.11.2020 | Comments (0)

Research suggests that Bitcoin miners are holding less of the asset.

A new report by on-chain analytics provider CoinMetrics suggests that miners’ considerable influence on the Bitcoin network is slowly diminishing.

The research analyzed miner and pool addresses and spending in order to determine whether their influence over the network as a whole had changed over time. As miners receive newly issued Bitcoin rather than buy it, they are natural net sellers of the asset.

Measuring the net flows from two types of addresses associated with block rewards revealed that there has been a gradual reduction in miners’ effect on liquidity:

“On-chain metrics like ... Read more »

Category: News | Views: 31 | Added by: danyagames2007 | Date: 04.11.2020 | Comments (0)