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Bitcoin faces this final resistance zone before $20K all-time high

Bitcoin (BTC) traders are pinpointing the order books of major exchanges that show the $19,500 level is a near-term resistance level.

Bitcoin rejects $19,500 for now

On Nov. 25, Bitcoin price was rejected at $19,500 with a relatively large volume across top spot exchanges. On Binance, for example, BTC price hit $19,484 before seeing a slight pullback to sub-$19,300.

BTC/USDT 4-hour chart (Binance). Sour ... Read more »

Category: Analytics | Views: 19 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

The ongoing Bitcoin rally brought investor interest back to altcoins in a big way, but as soon as the top-ranked cryptocurrency made it above $19,000, it has been nothing but carnage for Ethereum and the rest of the altcoin space.

Here’s why these assets faced carnage as soon as Bitcoin hit $19,500, and why it might signal a short-term top is near the crypto market.

Ethereum And Other Top Altcoins Suffer Carnage As BTC Nears ATH

Today could be the day when Bitcoin breaks its all-time high, and just about anyone in the crypto spaces knows it.

And that’s the primary reason in a nutshell that altcoins like Ethereum, XRP, and dozens more suffered a strong pullback once the most dominant cryptocurrency ... Read more »

Category: Analytics | Views: 17 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

Bitcoin rallied to over $19,000 in the same week that saw President-elect Joe Biden’s decision to appoint Keynesian economist Jenet Yellen as the next US Treasury Secretary.

Anthony Pompliano, the co-founder/partner at New York-based Morgan Creek Digital Assets, noted that Ms. Yellen’s economic management style complements Bitcoin’s bullish case. In his note to investors published Tuesday, the macro analyst said the former Federal Reserve Chairman has a tolerance for bubbles and inflation.

“Janet Yellen is likely to be Bitcoin’s greatest ally over the coming 4-8 years,” explained Mr. Pompliano. “She has never seen an opportunity to print money ... Read more »

Category: Analytics | Views: 17 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

Nov. 24 is generating the second-highest daily price ever for Bitcoin, with November already its best month in terms of dollar gains.

Bitcoin (BTC) is currently having its second-highest trading day ever as BTC/USD is hitting a new multiyear high of $19,330. 

Data from Cointelegraph Markets and TradingView provides a cause for celebration on Nov. 24 after Bitcoin suddenly tackled $19,000 resistance.

BTC price sees second-best day ever

Against a backdrop of rapid gains and the temptation of breaking all-time highs around $20,000, the achievement has not gone unnoticed on Bitcoin figures.

Ryan Selkis, founder of data resource Messari, noted that on only one day in its existence has Bitcoin traded a ... Read more »

Category: Analytics | Views: 7 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

Bitcoin reached $19,000 quickly after it plunged to $18,000 following an XRP flash crash on Coinbase.

The price of Bitcoin (BTC) surpassed $19,000 on Nov. 24 for the first time in nearly three years. It followed an XRP flash crash on Coinbase, which trembled the crypto market.

The two incidents could be entirely coincidental. Although considering that BTC price surged almost immediately after the XRP drop, there could be a correlation.

BTC/USDT 4-hour ... Read more »

Category: Analytics | Views: 14 | Added by: danyagames2007 | Date: 24.11.2020 | Comments (0)

Bitcoin outperforms JPMorgan in terms of market capitalization shortly after the firm’s CEO said Bitcoin “is not my cup of tea.”

Amid an ongoing parabolic bull run, Bitcoin (BTC) is breaking another major milestone in terms of its market capitalization against American banking giant JPMorgan.

On Nov. 24, Bitcoin surpassed the $19,000 price mark for the first time since December 2017, breaking another all-time record in its market cap.

At publishing time, Bitcoin’s market cap is $352 billion, up from $345 billion 24 hours ago.

According to data from Macro Trends, JPMorgan’s market cap closed at $349 billion on Nov. 23. Earlier this year, JPMorgan’s market cap dropped to as low ... Read more »

Category: Analytics | Views: 18 | Added by: danyagames2007 | Date: 24.11.2020 | Comments (0)

Bitcoin price failed again to clear the $18,800 resistance against the US Dollar. BTC is trading in a range and it could correct lower sharply if there is a break below $18,200.

Bitcoin is still trading well below the key resistance area near the $18,700 and $18,800 levels.
The price is now below $18,500 and the 100 hourly simple moving average.
There is a key contracting triangle forming with resistance near $18,480 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could decline sharply if there is a clear break below $18,200 and $18,050.

Bitcoin Price is Showing a Few Bearish Signs

There was another attempt by bitcoin price to clear the $18,700 and $18,800 resistance levels ... Read more »

Category: Analytics | Views: 15 | Added by: danyagames2007 | Date: 24.11.2020 | Comments (0)

A metric from bitcoin’s perpetual futures market suggests some traders may have become overleveraged during the recent rally to above $18,000.

The average level of the “funding rate” across major exchanges has risen sharply from 0.023% to a five-month high of 0.087% in the past 48 hours, according to data source Glassnode.

“Rising funding rates have in the past been associated with a larger portion of the market utilizing leverage via perpetuals,” Matthew Dibb, CEO of Stack Funds, told CoinDesk. “If we see continued overleveraging in the derivatives market, bitcoin (BTC, +2.74%) will be increasingly volatile in the short-term.”

Subscribe to Blockchain B ... Read more »

Category: Analytics | Views: 17 | Added by: andryvrozhkov | Date: 23.11.2020 | Comments (0)

The cost to purchase one Ethereum (ETH) token surged to its two-year high in the days leading up to its transformation into a proof-of-stake asset.

The ETH/USD exchange rate [almost] hit $600 on Monday following a 6.21 percent upside move, its highest level since May 2018. Traders apprehensively increased their bullish bets on the pair after anticipating a supply deficit in the Etherum market.

Ethereum 2.0

In retrospect, Ethereum expects to undergo a major network upgrade under the title of Ethereum 2.0. The technical advancement will increase its blockchain’s scalability, energy efficiency, and security without compromising its inherent decentralization.

Meanwhile, Ethereum 2.0 also proposes to change ... Read more »

Category: Analytics | Views: 18 | Added by: danyagames2007 | Date: 23.11.2020 | Comments (0)

Tesla has been an investor’s dream in recent months. The company’s stock price has performed quite well since late last year with eccentric billionaire Elon Musk at its helm. One of the things that makes Tesla such a popular investment is its high-end brand in the world of electric vehicles.

Notably, Tesla’s rally came as bitcoin also surged tremendously, leading many analysts to question whether there are some similarities between the two assets. In August of this year, the Tesla stock price hit a new lifetime high of $2,000 per share after increasing by approximately 46% in just ten days. The bitcoin price has also set a couple of milestones. The bellwether cryptocurrency has charted a steady rally from the psychol ... Read more »

Category: Analytics | Views: 17 | Added by: 4zvezda | Date: 23.11.2020 | Comments (0)