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Up until early 2018, major cryptocurrency markets the likes of South Korea and Japan demonstrated high premiums for Bitcoin.
At the 2017 peak, when the Bitcoin price was trading at around $20,000 in the U.S. spot market, Bitcoin was being traded in South Korea’s cryptocurrency exchange market for around 26,000,000 Korean won, equivalent to about $22,000.
This difference is now known as the Kimchi premium.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
News Resources From Today’s Show:
https://cointelegraph.com/news/bitcoin-price-which-countries-have-the-biggest-premiums
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BITCOIN HITS STOCK-TO-FLOW REBOUND LEVEL NOT SEEN SINCE 2017 ATH!! CRYPTO TO TRANSFORM 4 INDUSTRIES!
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Deviation from the stock-to-flow average has always resulted in a reversal to new all-time highs, data shows. Both 2013 and 2017 ultimately saw a two-tier run to an all-time high. The first peak was followed by a significant drawdown in each instance, which then reversed to spawn a run to a new top. PlanB still believes that $100,000 per Bitcoin will appear this year, while stock-to-flow calls for either a $100,000 or $288,000 average price between now and 2024.
In other trending Bitcoin News today: Billionaire venture capitalist Tim Draper thinks the ultimate impact of cryptocurrency will stretch far beyond the world of finance. The Draper Associates founder tells high-profile crypto trader Scott Melker that while there may be “fits and starts,” he thinks BTC’s price will continue to rise as Bitcoin radically changes those various elements of society.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
https://cointelegraph.com/news/texas-regulator-allows-state-chartered-banks-to-hold-bitcoin
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BITCOIN PRICE FACING ITS FINAL RESISTANCE ZONE BEFORE K BTC!! CHAINLINK 52% MASSIVE RALLY!!
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The Bitcoin price is facing its final resistance zone until the bull market is on fire.
However, will BTC break through this resistance zone in one attempt?
The charts suggest that the $11,600-12,000 area is a crucial level to break if the BTC price is to continue moving higher.
As the price of Bitcoin couldn’t break through that resistance zone, a slight drop occurred on Friday from $11,900 to $11,350, after which BTC has managed to pare most of the losses since.
BTC/USD is still fighting at the resistance zone at $11,800-12,000.
Unfortunately, no breakout just yet, while silver and gold have been showing more strength recently.
The chart shows that there’s a clear resistance zone at $11,800-12,000.
This is a significant level as it is the final untested level until Bitcoin enters open air.
If there’s a breakthrough in this resistance zone, Bitcoin’s price can easily run toward $15,000-16,000.
Such a run would only increase the FOMO, or fear of missing out, in the markets.
The bullish scenario for Bitcoin Breaking $12,000 underpins the bullish scenario.
If the resistance area finally breaks as resistance, $15,000 then becomes a likely target for the bulls.
However, a clear breakout through the $12,000 area can only be confirmed with a support/resistance flip.
This would suggest that buyers are stepping in as the previous resistance transforms into new support.
The bearish scenario for Bitcoin The bearish scenario means that $12,000 was not broken.
If the resistance continues to be resistance, a renewed range-bound structure will likely occur in the coming weeks.
Another argument can be found in the forex markets.
The recent breakout of Bitcoin occurred while EUR/USD broke upwards from 1.14 to 1.19.
This breakout led to a drop of the USD against other currencies, which essentially triggered the massive breakouts in Bitcoin, gold, and silver prices.
If EUR/USD starts to correct from 1.19 to lower numbers, the USD is getting stronger.
Such a relief bounce will most likely trigger a further corrective move on the crypto and commodity markets, leading toward the scenario described above.
A range-bound period wouldn’t be bad for the markets, however, as altcoins have been doing relatively well in these times.
If Bitcoin’s price starts to correct, the focus could once again shift to altcoins.
In other trending Bitcoin News today:
Massive Short Squeeze Prompts Chainlink (LINK) Price to Rally 52%
Chainlink (LINK) price continues to set new records as the DeFi-related token surged 52% to reach a new all-time high at $13.8799 today.
Over the last 24-hours, LINK has surged by 52%, rallying from $9.05 to as high as $13.8799 on Binance exchange.
As Chainlink demonstrated a strengthening uptrend, its competitor Band Protocol (BAND), which also operates as a network for oracles, spiked 50% to reach a new all-time high at $14.30.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Bull divergence, BTC Dominance, expecting BTC to gain over alts in coming weeks. Waiting for the top indicator to reverse (detects volume movements). ETH currently more bullish than other alts. In that regard, I believe we’re in an era of dual pumpage. pic.twitter.com/hUuIoinfm5
— Willy Woo (@woonomic) August 9, 2020
https://bitcoinexchangeguide.com/bitcoin-wrap-up-4-big-things-that-happened-this-week/
https://cointelegraph.com/news/the-price-of-bitcoin-is-facing-its-final-resistance-zone-before-15k
https://cointelegraph.com/news/massive-short-squeeze-prompts-chainlink-link-price-to-rally-52
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TEEKA TIWARI: The Final 5 Coins to Million | Bitcoin (BTC) Price Gearing Up for Major Move
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Teeka Tiwari reveals his ‘Final 5’ crypto picks of 2020 in the most anticipated live cryptocurrency event of the year.
With the Bitcoin price currently dropping and with the market looking short term bearish, will the BTC halving which is now only 63 days away spark the next parabolic bull rally?
For the past six months, Teeka Tiwari – the independently ranked #1 most trusted person in crypto – has been on a world tour, investigating a rare crypto market phenomenon…
100% guaranteed to happen only once every four years. (It’s not the halving. The answer may surprise you.)
Over 100 billionaires and wealthy investors are in a buying frenzy right now, preparing for this phenomenon.
The last time it occurred in 2016 (we won’t see it again until 2024), you could’ve turned $500 into as much as $5 million – in 10 months.
During this landmark online training event, Teeka will fly you to the hidden-in-plain-sight epicenter of this phenomenon… so you can see with your own eyes: It’s real.
It’s 100% guaranteed to hit in roughly 50 days. And it could be bigger than any other phenomenon before.
Analyst Who Predicted Bitcoin Crash to $6,500 Says BTC Gearing Up for Major Move
One of the few analysts to predict the start of Bitcoin’s 2019 retreat says BTC may be due for another correction.
The pseudonymous analyst Dave the Wave tells his 25,000 followers on Twitter that he believes the leading cryptocurrency remains in a descending triangle that dates back to late 2018.
Following this script, he expects a short-term bounce before another sell-off that could bring BTC to $8,300 sometime between March and May.
Based on the analyst’s chart, that short-term bounce could send Bitcoin close to $9,500 this month before the correction begins.
Dave makes this prediction based on a reversing logarithmic moving average convergence and divergence (LMACD).
This indicator is designed to reveal changes in an asset’s trend, strength and momentum.
Last June, Dave correctly called the start of Bitcoin’s 2019 retracement.
He expected Bitcoin to drop to just above $6,000 before the end of 2019. His prediction turned out to be remarkably accurate, as BTC hit a yearly low of $6,425 in December.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
#btc #Bitcoin #eth #ethereum23 DAYS TILL THE BITCOIN BULL RUN STARTS!Shortterm resistance is now confirmed. This is a big deal as it confirms my suspicions of a dead cat bounce in play 🙀
Expecting to see heavy falling and $btc to be under $8000 this week.
💪🏼🤓👇🏼 pic.twitter.com/utM4qwZgZd— 𝗕𝗜𝗧𝗖𝗢𝗜𝗡 𝗕𝗨𝗟𝗟 𝗥𝗨𝗡 𝗔𝗣𝗥𝗜𝗟 𝟮𝟬𝟮𝟬 (@BITCOIN_BULLRUN) March 8, 2020
This Eerie Fractal Shows the Bitcoin Price Has Further To Fall From $9,000
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