11:39
Thoughts on the crypto market on 01/19/2021

During the day, Bitcoin moved in the range of 34800 - 37540. The strait below 35K was quickly redeemed, the resistance at 37400 - 37500 could not be passed either, and now the main cryptocurrency is trading around 37200-37500.

Market capitalization 1041 billion, dominance index 65.7%.

Equity markets opened positively - oil returned above 55, S&P 500 futures rallied, the dollar index declined slightly and is at 90.66.

On the crypto market, we see stable Bitcoin and the growth of altcoins. The main cryptocurrency tried twice to go above 37500 - 37400, but this did not lead to success. Straits below 35K are also quickly redeemed. The main cryptocurrency has been in the range of 37500 - 35000 for the fourth day.

During this time, the dominance index fell below 66%, altcoins continue to grow, Ether has returned above 1300, the market capitalization is held above 1 trillion. The second echelon of the TOP, such as Atom and Neo, also shows good results.

The forecast for the movement of Bitcoin was yesterday. Today we will consider how the altcoins will behave in the event of working out one or another option.

If variant 2, which I consider most likely, is worked out, the growth of altos will continue, and the dominance index may drop to 62 - 64%.

In the case of working out option 1 (draining below 30K for a while), the altcoins will be all bad. As always, they will fall much stronger than Bitcoin, and will recover as it rises.

Option 3 - fixing Bitcoin above 40K - will lead to a drop in alts to Bitcoin and an increase to the dollar. The dominance index in this case will grow to 68-70%.

For information, the 100 largest Bitcoin wallets bought Bitcoin for $ 11 billion in the last 30 days. And MicroStrategy CEO Michael Sailor said that Bitcoin has more profit potential than Apple, Facebook, Amazon stocks in the early stages.

He knows what he is talking about, because was an early investor in these companies and made good money on them. And now his company was buying Bitcoin at 11K and then around 22K. Subsequent events showed that the person who came to the fore in Apple, Facebook, Amazon, PayPal, eBay and a number of other companies is not mistaken even now.

Thoughts on the crypto market on 01/18/2021

 

 

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Category: Analytics | Views: 100 | Added by: andryvrozhkov | Tags: #bitcoin bitcoin price #btc | Rating: 5.0/1
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