21.000$-Bitcoin is possible – this „bullish divergence“ gives hope to traders

Bitcoin could see a sharp upturn as it trades near a confluence of technical support strengthened by external fundamental factors.

The flagship crypto currency appears to be forming an ascending channel formation, confirmed by more than two confirmations of its upper and lower trend lines, which act as resistance and support by Bitcoin Profit platform respectively. Since this Friday, BTC/USD has been testing the support trendline for a possible retracement move.
The Bitcoin price is traded upwards in an ascending channel formation. Source: BTCUSD on TradingView.com

A baseline of another channel formation – a descending one – also converges with the support trend line of the ascending channel. This doubles the strength of the area and protects Bitcoin from further bear attacks.

The tripling of the strength is a visible divergence between the rising volume of the crypto currency and the falling price. This is – technically speaking – bullish.

Nevertheless, Bitcoin risks an extended downward correction below the perceived price floor should more traders decide to secure their profits. Many analysts agree that the crypto currency could fall towards the middle $16,000 – but add that Bitcoin would undergo a major retracement towards its previous high at $20,000.

The formation of the rising channel suggests the same. So far, any attempt by Bitcoin to close below its support trend line has met with strong bull buying pressure. As a result, the price reduces its losses and recovers to the upper trend line of the channel.

Given a fractal reoccurrence, BTC/USD could experience a reversal of the current support trend line towards the channel resistance. This points to another all-time high formation around $21,000.

Bitcoin’s fundamentals

Massachusetts Mutual Life Insurance Co, a 156 year old financial services company, announced Thursday that it purchased $100 million worth of Bitcoin shares for its general investment account.

The investment looks tiny when compared to what MassMutual already manages (nearly $235 billion in assets). But it does point to the continued growth of Bitcoin.

The price of the crypto currency peaked at around $20,000 at the end of November, after a number of mainstream companies, including MicroStrategy and Square, invested in the currency as a measure against inflation.

Tyler Winklevoss, who together with his twin brother Cameron Winklevoss runs the Gemini crypto currency exchange in the US, estimates that MassMutual’s recent investment ensures that Bitcoin will reach the $500,000 valuation in the future.

„The nature of the investors in this bull run is very diverse. They are super sophisticated institutional investors like the legendary Paul Tudor Jones, [Stanley] Druckenmiller.“

Bitcoin is currently being traded around 11 percent below its record high – a sign of a bearish correction that typically follows parabolic rallies. So far this year, the crypto currency has still risen by about 150 per cent.

The Bitcoin (BTC) rate was shot through the $19,400 Dutch time on Tuesday afternoon. It is the highest level of the cryptomint for three years. The previous record is just over $20,000 on 17 December 2017 according to market researcher Coinmarketcap.

Bitcoin +160% by 2020

Bitcoin is the best performing asset of 2020 with a return of over 160%. With this, the cryptomint beats the stock indices S&P 500, AEX, real estate and gold.

This year, the world was faced with the Corona virus, and the Federal Reserve and the European Central Bank opened the money tap.

However, the real economy is not benefiting from this. The average income level has barely risen to none, while governments are blowing bubbles in other assets such as the housing market.

In 2020, this trend continued. Under the Trump government, the US national debt increased by 33%. Since March, abundant amounts of dollars and euros have flowed to the financial markets.

As a result, the prices of shares and gold rose sharply. Think, for example, of the Tesla share.

Bitcoin showed several moments of strong correlation with equities and gold during the year, but has let this go in recent weeks. As a result, Bitcoin seems to be drawing the longest straw and benefiting most from the current impasse in the world market.

In May year, the ‚flow‘ of new Bitcoin halved from 1,800 to 900 ‚fresh‘ Bitcoin per day. As a result, much less Bitcoin is added every day.

Weapon against inflation

In the meantime, on the contrary, demand has risen sharply. Companies fear the ghost of inflation that hangs over the market and put some of their savings in Bitcoin.

Examples include MicroStrategy, an American ICT company. But also Square, larger than Goldman Sachs, sold $1.6 billion worth of Bitcoin to its Cash App customers in the third quarter of this year.

Research shows that listed companies now hold over 842,000 Bitcoin on their balance sheets. That is over 16 billion dollars at the current price.

However, it was PayPal with between 200 and 300 million active accounts that caused a considerable ripple in the market. The fact is that they are obliged by licence to cover every Bitcoin Compass offered with genuine Bitcoin. This leads to a shortage, because Square and PayPal buy more Bitcoin than they buy every day.

So the payment giant has become a buyer on the world market. This is a great pull factor for this disintegrating asset class, all the more so because there is a growing group of savers (hodlers) who hold on to their BTC, and they don’t sell their Bitcoin either.

According to CEO Dan Schulman, Bitcoin has more distinguishing features, as he stated this week: „I see Bitcoin as a means of payment“.

Next week it should become clear whether the market is ready for a new historical record. With a market value of USD 353 billion, this asset is small in proportion. The total market cap, for example, is 3% of the total market cap of gold.

Correction of the table?

Analysts anticipated a correction phase earlier this week. Precisely because the futures market is quite overheated with contracts speculating on an even higher rate.

Analyst John van Meer also saw enough bearish patterns on the timeframes this morning.

The Dutch analyst Bitcoin Jack is also anticipating a fall as soon as the scenario below unfolds.

Covid-19, bête noire of the established order – Due to the current crisis so overwhelming, some of the oldest critics of Bitcoin, in particular Nouriel Roubini (Dr. Doom), have come (occasionally) to recognize the digital currency queen as a real store of value . The winds of change seem to be here, for others too.

Corona, accelerator of change

It has been a few years since we started a generalized transition to digital. The Covid-19 will have done the right thing to force us to carry out, in a few months, major transformations that would have taken years in normal times.

Among these transformations, 2 are strongly in favor of Bitcoin Profit scam and digital currencies in general: the considerable increase in online transactions and the unreasonable production of fiat currencies .

The banknote that overflows the safe

Let us quickly come back to the concept of helicoper money , which is the fact of printing as many currencies as possible , then lending it at the lowest possible rate to companies, so that they can meet their obligations.

The result of this monetary policy? Over 23% of dollars printed since the advent of the currency were produced in 2020 . Faced with this proliferation of greenbacks, a question arises: what is the value of this constantly growing money supply?

This question, initially reserved for the most fervent detractors of sovereign currencies, has now made its way to Wall Street where confidence in the dollar is gradually decreasing .

The rise of online transactions

Due to social distancing , there has been a marked increase in online transactions , whether for purchases or movements of money. The last refractories, still placing their transfer orders on paper, had to go digital in the face of the closure of bank counters and a large part of the population has resorted to e-commerce.

In this new all-digital paradigm, surveillance is increased . In fact, the more we use online services, the more data we generate to analyze our behavior . Bitcoin could therefore be an alternative to circumvent this generalized surveillance.

Quant Trader explica por qué XRP vio un pico de volatilidad masiva

Descargo de responsabilidad: La opinión expresada aquí no es un consejo de inversión – se proporciona sólo con fines informativos. No refleja necesariamente la opinión-. Toda inversión y todo comercio implica un riesgo, por lo que siempre debe realizar su propia investigación Bitcoin Up antes de tomar decisiones. No recomendamos invertir dinero que no pueda permitirse perder.

¿Por qué el XRP subió tanto y por qué aumentó el interés?

El catalizador principal detrás del empinado rally de XRP fue como el frenesí en torno a la criptografía en los medios sociales.
¿Qué sucede a continuación?

Del 21 al 24 de noviembre, en tres días, el precio del XRP aumentó más de un 136%. Subió de 0,32929 dólares a un máximo de 0,78 dólares en Binance, durante una fuerte tendencia al alza. Un comerciante cuantitativo atribuyó la masiva volatilidad a una liquidez relativamente baja y a un gran aumento del interés abierto.

En 2017, el precio del XRP alcanzó un máximo de más de 3,2 dólares. En ese momento, la popularidad de Google Trends de la palabra clave „XRP“ alcanzó los 100 puntos sobre 100. Durante el reciente repunte, subió a 63 puntos. El nivel más alto que vio fue en septiembre de 2018, cuando la popularidad de Google Trends llegó a 20.

En comparación, a principios de noviembre, la popularidad de la palabra clave estaba rondando entre 5 y 7 puntos. Esto muestra que el interés en la cripto-moneda aumentó significativamente cuando comenzó el rally.

¿Por qué el XRP subió tanto y por qué aumentó el interés?

El catalizador principal detrás del empinado rally de XRP fue como el frenesí en torno a la criptografía en los medios sociales.

Firmas de análisis en cadena, incluyendo Santiment, informaron que XRP seguía siendo una palabra clave polarizante incluso con palabras clave populares como Viernes Negro.

Aunque la popularidad de XRP en los medios sociales disminuyó después de que se estrelló en Coinbase de 0,8 dólares, los analistas de Santiment dijeron:

„Este Día de Acción de Gracias sigue al mayor día de inmersión en dos meses y medio, y #crypto social media está de moda con temas como #buythedip y #blackfridaysale. $XRP sigue polarizándose como lo ha hecho toda la semana, ya que la confianza está vacilando ligeramente.“

Las criptodivisas alternativas (altcoins), como el XRP, vieron un movimiento de precios más intenso generalmente debido a la menor liquidez. La tendencia de las altcoins que surgen rápidamente tras una tendencia alcista de Bitcoin también recuerda a ciclos anteriores.

En diciembre de 2017, por ejemplo, el precio de Bitcoin se acercó a los 20.000 dólares en las principales bolsas, incluidas Coinbase y Binance. Un mes más tarde, en enero de 2018, se desató una manía de altcoin. Este fue el período en el que el XRP superó los 3,2 dólares y el Ethereum alcanzó los 1.400 dólares.

Sam Trabucco, un comerciante cuántico de Alameda Research, que comercia con más de 600 millones de dólares al día, explicó:

„¿Y las monedas alternativas? El mismo movimiento excepto que, típicamente, es mucho más intenso. Como lo esperamos! La liquidez es menor y las IO suben mucho más frente a la liquidez típica, por lo que las liquidaciones siempre van a impactar más aquí. El XRP fue otra vez súper extremo… ¡eso es un 20% de caída!“
¿Qué pasa después?

Por ahora, después de que Bitcoin disminuyera rápidamente de 19.400 a 16.200 dólares, los altcoins se están consolidando. Bitcoin se ha mantenido por encima de los 16.200 dólares desde entonces, recuperándose por encima de los 17.000 dólares del día.

Las altcoins cayeron abruptamente al caer la BTC, pero las criptodivisas como la XRP han empezado a repuntar en tándem con la BTC.

Un rebond de l’indice de force relative de Bitcoin fait écho au début de 2017, avant des mois de hausse des prix à des sommets historiques de 20000 $.

Bitcoin ( BTC ) est au début de sa prochaine «course haussière principale» et le pic de prix n’atteindra pas avant la fin de 2021, estime l’analyste bien connu Willy Woo.

Dans l’une des nombreuses discussions récentes sur Twitter le 11 novembre, le créateur de la ressource statistique Woobull a produit de nouvelles preuves que les gains de prix de Bitcoin ne font que commencer.

Woo: Bitcoin RSI „juste en train de se réchauffer“

En téléchargeant un graphique montrant l’indice de force relative (RSI) de Bitcoin, Woo a noté des similitudes entre le comportement actuel de la métrique et celui du début de 2017.

«Le cercle vert indique où nous en sommes dans ce cycle macro. Début de la course principale (au cas où ce ne serait pas déjà évident) », a-t-il commenté.

«L’indice de force relative en chaîne de BTC ne fait que se réchauffer. Les verticales rouges sont les moitiés, fournissant l’impulsion de choc d’offre haussière. »

RSI examine le comportement des prix sur une période donnée. Son calcul implique le ratio de clôture moyenne supérieur et inférieur sur cette période.

Bitcoin 365 jours RSI vs graphique des prix avec les faits saillants. Source: Willy Woo / Twitter
Woo utilisait son propre graphique RSI de 365 jours, et ses lectures font suite à sa position lors d’une précédente mise à jour en juillet. À l’époque, Bitcoin mettait fin à une période de compression dite RSI, qui accompagnait une série de creux et de hauts plus bas pour le prix BTC.

En juillet, Woo a prédit que la course haussière commencerait au quatrième trimestre de 2020 et se terminerait en 2021 – ce qui est jusqu’à présent devenu une réalité. Maintenant, il suggère que la nouvelle phase haussière ne culminera que dans environ un an.

„Mon choix est décembre 2021, je dois vendre pour payer des impôts comme la dernière fois“, a-t-il répondu lorsqu’on l’interroge sur un pic probable.

2021 sera l’année des records de prix BTC

Comme Cointelegraph l’a rapporté , Woo est loin d’être le seul à affirmer que les performances de Bitcoin ces dernières semaines sont une anomalie, qui se corrigera plus tard à la baisse.

Le PDG de Real Vision, Raoul Pal, et le co-fondateur de Gemini Exchange, Tyler Winklevoss, ont tous deux déclaré qu’un nouveau record absolu pour BTC / USD arrivera au plus tard au premier trimestre de l’année prochaine.

Les problèmes techniques qui ont accompagné la hausse à 16000 dollars se sont quant à eux dissipés grâce au réajustement automatique de la difficulté de minage de Bitcoin, avec des frais plongeant et des transactions non confirmées tombant à près de zéro cette semaine.

Bitcoin, Ethereum and Bitcoin Cash accepted in thousands of stores

Are Bitcoin and crypto currencies actually used? – This is the question we ask ourselves in today’s article and define „use“ as use for the purchase of goods or services. After all, there is always the argument that BTC and Co. are seen merely as an investment and have no real use.

But what does the situation actually look like? – A report by Blockcard gives us interesting insights into this.
Bitcoin and crypto currencies in practice

The complete report of the company Blockcard can be accessed and read here. We would like to take a closer look at the most interesting aspects.

Briefly on the scope of the survey: For the report, about 35,000 crypto investors were interviewed. It shows that 70% of all respondents actually spend their crypto currencies and do not just hold them.

Bitcoin and crypto currencies
Is Bitcoin more than a pure Store of Value?

Again and again the narrative circulates that crypto currencies have failed in their function as „electronic cash“. In the meantime, Bitcoin is frequently only attested the attribute of a Store of Value.

However, the above graphic, which does not only refer to Bitcoin, shows a different picture. Crypto currencies are also bought in order to actually use them.

However, 30% of those surveyed see Bitcoin and Co. as a pure investment good. That means that no purchases are made with it. On the other side stand the 70% just pointed out.

If we now take a look at the exact use, we quickly see that appearances are deceptive. Because approximately 77% of these 70% indicate that they use crypto currencies, in order to buy with it other digital currencies. Blockcard sees this form of transaction as well as use or sale.

Bitcoin Use

Nevertheless, it is clear that there are many other application scenarios. Thus approximately 13% and/or 11% use their crypto currencies, in order to take thereby Entertainment services or meals up. 5% of the asked ones indicate that they pay their rent with crypto currencies.
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MicroStrategy is het affichekind geworden van de reguliere adoptie van Bitcoin onder bedrijven. Het is het enige beursgenoteerde bedrijf dat zich tot BTC wendt als reserve om hun kapitaal in op te slaan.

Hun aankondiging vorige maand met betrekking tot hun beslissing om de Amerikaanse dollar te laten vervallen ten gunste van Bitcoin Trader om hun kapitaal op te slaan, was een grote, omdat het aantoonde dat het digitale referentiemiddel aan nut wint als een opslag van waarde.

Voor een bedrijf met honderden miljoenen dollars in contanten is de beslissing logisch, omdat de schaarste van de cryptovaluta hen in staat stelt de enorme verliezen te vermijden die anders zouden worden geleden als gevolg van inflatie.

Zoveel BTC verwerven zonder via over-the-counter (OTC) -locaties te gaan, is echter geen gemakkelijke taak, en de CEO van het bedrijf legde in een recente tweet uit hoe ze dit deden.

MicroStrategy bezit nu 38.250 Bitcoin

Eerder deze week kondigde Michael Saylor, CEO van Microstrategy, aan dat zijn bedrijf hun Bitcoin-weddenschap had verdubbeld en $ 175 miljoen aan digitale activa aan hun bezit had toegevoegd.

Deze enorme aankoop kwam ongeveer enkele weken nadat het bedrijf zijn plannen had onthuld om over te schakelen naar een alternatieve op Bitcoin gerichte financiële strategie. Ze zijn nu van plan hun volledige kapitaalreserves in BTC aan te houden om inflatie en devaluatie van de Amerikaanse dollar te voorkomen, die tegen ongekende tarieven wordt gedrukt.

Deze strategie is ongekend en begon met de aankoop van maar liefst $ 250 miljoen aan digitale activa.

Het bedrijf onthulde op 15 september dat ze nog meer BTC kochten en een aankoop van $ 175 miljoen deden via de spotmarkten. Dit kan ertoe hebben geleid dat de prijs van Bitcoin is gestegen naar $ 10.900, terwijl de rest van de markt lager neigde.

Hun totale bezit is nu gestapeld tot 38.250 Bitcoin, met een totale aankoopprijs van $ 425 miljoen.

Dit is hoe MicroStrategy 16.796 BTC op de markt heeft gekocht

Tijdens hun laatste aankoopperiode gebruikte MicroStrategy de retailmarkt om hun cryptovaluta te verwerven, waarbij de CEO van het bedrijf uitlegde dat ze 16.796 BTC hadden gekocht gedurende 74 uur continu handelen.

“Om 16.796 BTC te verwerven (bekendgemaakt op 14-09-20), handelden we continu 74 uur, waarbij we 88.617 transacties van ~ 0,19 BTC elke 3 seconden uitvoerden. ~ $ 39.414 in BTC per minuut, maar we waren te allen tijde bereid om binnen een paar seconden $ 30-50 miljoen aan te schaffen als we geluk hadden met een neerwaartse piek van 1-2%. “

De enorme hoeveelheid kapitaal die op de markt werd geïntroduceerd als gevolg van deze 74 uur ononderbroken handelen had waarschijnlijk blijvende gevolgen die mogelijk nog steeds van invloed zijn op Bitcoin.

Tron (TRX) Preisanalyse: Weitere Kursrückgänge in Richtung $0,022 möglich

• Der Tron-Preis konnte sich nicht über den wichtigen Unterstützungsniveaus von $0,0320 und $0,0300 gegenüber dem US-Dollar halten.
• Der TRX-Preis handelt jetzt unter der Unterstützung von $0,0285 und dem 55 einfachen gleitenden Durchschnitt (4 Stunden).
• Auf der 4-Stunden-Chart (Dateneinspeisung über Bitfinex) gab es einen Durchbruch unterhalb eines rückläufigen Kanals mit Unterstützung nahe 0,0276 $.
• Das Paar wird sich in naher Zukunft wahrscheinlich weiter abwärts in Richtung der Unterstützungszone bei $0,0225 bewegen.

Der TRON-Preis konnte die Gewinne nicht halten und ging gegenüber dem US-Dollar und Bitcoin stetig zurück. Der TRX-Preis zeigt rückläufige Anzeichen unterhalb der Unterstützungsniveaus laut Bitcoin Billionaire von $0,0300 und $0,0285.

Tron-Preis-Analyse

Nachdem der TRON-Preis darum gekämpft hatte, über $0,0360 zu steigen, begann er einen stetigen Rückgang gegenüber dem US-Dollar. Der TRX-Preis durchbrach viele Unterstützungen nahe den Niveaus von $0,0320 und $0,0300 und bewegte sich in eine rückläufige Zone.

Es gab auch einen Schlusskurs unter 0,0300 $ und den 55 einfachen gleitenden Durchschnitt (4-Stunden). Wichtiger noch, es gab einen Durchbruch unterhalb einer rückläufigen Handelsspanne mit Unterstützung nahe $0,0276 auf der 4-Stunden-Chart. Das Paar durchbrach sogar die wichtige Unterstützung bei $0,0285 und das letzte Tief bei $0,0276.

Die nächste wichtige Unterstützung liegt nahe dem Wert von $ 0,0258. Sie liegt nahe dem Erweiterungsniveau von 1,236 Fib der Schlüsselbewegung vom Tiefststand bei $0,0276 auf den Höchststand von $0,0359. Wenn die Bären in Aktion bleiben, besteht die Chance auf weitere Verluste unter $0,0258.

Die nächste große Unterstützung liegt nahe dem Pivot-Level von $0,0225. Sie fällt mit dem Verlängerungsniveau von 1,618 Fib der Schlüsselbewegung vom Tief bei $0,0276 auf ein Hoch bei $0,0359 zusammen. Jegliche weiteren Verluste könnten den Tronpreis möglicherweise in Richtung der $0,0200-Unterstützungszone führen.

Auf der Aufwärtsseite wird der Preis wahrscheinlich auf Hürden in der Nähe des Niveaus bei Bitcoin Billionaire von $ 0,0285 (der jüngsten Zusammenbruchszone) stoßen. Der nächste größere Widerstand befindet sich in der Nähe des Niveaus von $0,0300 und der oberen Trendlinie des Kanals.

Wenn der Tronpreis die Widerstandswerte von $0,0285 und $0,0300 überwindet, besteht die Chance auf eine anständige Erholungswelle. Im genannten Fall werden die Bullen wahrscheinlich einen Test der Widerstandszone bei $0,0320 oder des 55 einfachen gleitenden Durchschnitts (4 Stunden) anstreben.