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Bitcoin whales are the center of attention this week as buying and selling habits split the BTC price narrative.
New findings from on-chain analytics firm CryptoQuant show derivatives investors leading the way when it comes to bullish bets on Bitcoin.
“I think BTC is ready. Suddenly all of my favorite leading indicators are lining up long & strong.”
This is a 30 day WMA. Strong bullish trends in the metric have preceded every strong bullish price trend of this bull. And it just printed monster bull move.”
In other trending Bitcoin News today: Bitcoin To Flip Bullish Under One Key Circumstance, According to On-Chain Analyst Will Clemente!
“Bitcoin is below the short-term holder cost basis, which currently sits at $53,000. Until this is reclaimed, not bullish. Not saying I am a ‘giga bear,’ just cautious until the market shows me otherwise. Happy to flip bullish if reclaimed. Bearish confirmation would be a failed underside retest of the band.”
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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/only-10-of-bitcoin-supply-left-to-mine
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WHY A #post_titleM BITCOIN IS NEARLY INEVITABLE AND BANNING BTC IS ‘NOT’ POSSIBLE OR EVEN REASONABLE!!
➡️ REPLAY: “The Crypto Catch-Up” – http://teeka.cryptonewsalerts.net
Crypto analyst and Bitcoin bull Moon Capital recently went on an epic tweet storm sharing his bullish case on why a $1,000,000+ BTC price is nearly inevitable.
“1/ “BUT THEY WILL BAN BITCOIN.” Let me quickly explain why this threat is HIGHLY overestimated and why it is NOT possible or even reasonable. $1,000,000+ Bitcoin is nearly inevitable.”
In other breaking Bitcoin News today:
“3 Reasons Bitcoin Price Just Hit $16,000 For The First Time Since 2017”
The price of Bitcoin (BTC) surged past $16,000 today, Nov. 12, for the first time in nearly three years.
The momentum of the dominant cryptocurrency is strengthening due to three key major factors.
The main catalysts behind BTC’s rally are the non-overheated derivatives market, repeated retest of $16,000, and the $14,900 whale supply zone.
On Nov. 10, the price of Bitcoin abruptly declined to as low as $15,072.
The market drop occurred merely 24 hours after it saw another major dip to $14,805, which turned traders cautious.
But the drop benefited Bitcoin for two key reasons. First, it allowed whales to take profit on their positions at around the $15,000 support level.
Second, it neutralized the futures market by flushing out late buyers or long contract holders.
Resetting the futures market and the funding rate for Bitcoin futures contracts was critical for sustaining the ongoing BTC rally.
Futures exchanges in the cryptocurrency market use a mechanism called “funding” to achieve balance in the market.
When the majority of the market is buying Bitcoin, buyers need to incentivize short-sellers.
The vice versa is also true: When shorts make up most of the market, sellers need to pay buyers.
Prior to the drop on Nov. 10, the funding rate of BTC was hovering above 0.01%.
This indicated that the market was heavily longing or buying Bitcoin, making it overcrowded.
After the minor correction to the $15,000 support level, BTC futures contracts neutralized as funding rates stabilized.
Even until late Nov. 11, the $16,000 area served as a heavy level of resistance for Bitcoin.
Traders pinpointed the presence of large sell orders at the resistance, indicating that whales are likely targeting this level.
In other trending BTC News today:
“Deutsche Bank: Central Bank Digital Currency Will Replace Cash In Long Term”
Deutsche Bank, the largest banking institution in Germany, is confident that central bank digital currencies, or CBDCs, will replace cash in the future.
The bank’s research arm, Deutsche Bank Research, published a new report on economic estimations and proposals to assist global economies hit by the coronavirus pandemic.
Titled What We Must Do to Rebuild, the new edition was released on Nov. 10. In the report, Deutsche Bank states that the ongoing COVID-19 pandemic has accelerated the “digital cash revolution.”
According to the bank, this revolution will eventually enable CBDCs like China’s digital yuan or Sweden’s e-krona to replace cash in the long term.
Deutsche Bank called on national governments and private companies to work on alternatives to credit cards, stating:
“Worldwide lockdowns and social distancing measures have only increased the use of cards over cash. To respond, companies and policymakers must design alternative to credit cards and remove middle man fees. […] For now, the priority must be on regional digital payment systems. In the long term, central bank digital currencies will replace cash.”
In the report, Deutsche Bank Research also warned European policymakers about the risks of not developing their own digital currency project in response to China and Sweden’s active progress in the field.
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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:
1/ “BUT THEY WILL BAN BITCOIN.”Let me quickly explain why this threat is HIGHLY overestimated and why it is NOT possible or even reasonable.
$1,000,000+ #Bitcoin is nearly inevitable.
— Moon Capital 🔑 (@Moon__Capital) November 11, 2020
Yearly #Bitcoin returns2010: 𝟵,𝟵𝟬𝟬%2011: 𝟭,𝟰𝟳𝟯%2012: 𝟭𝟴𝟲%2013: 𝟱,𝟰𝟴𝟭%2014: -𝟱𝟳%2015: 𝟯𝟰%2016: 𝟭𝟮𝟯%2017: 𝟭,𝟯𝟲𝟴%2018: -𝟳𝟯%2019: 𝟵𝟮%2020: 𝟭𝟮𝟭% (so far)
Only negative years are after a bull run 🐂
— Danny Scott (@CoinCornerDanny) November 12, 2020
Green circle denotes where we are in this macro cycle. Start of the main bull run (in case it isn’t already obvious).BTC’s on-chain Relative Strength Index is just warming up.
Red verticals are the halvenings, providing the bullish supply shock impulse. pic.twitter.com/HudOgAAezv
— Willy Woo (@woonomic) November 11, 2020
https://cointelegraph.com/news/3-reasons-bitcoin-price-just-hit-16-000-for-the-first-time-since-2017
https://cointelegraph.com/news/bitcoin-price-peak-in-december-2021-as-main-bull-run-begins-willy-woo
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BITCOIN PRICE EXPLODES AS RARE BULL SIGNAL FLASHES!! | BTC Transactions Hit A Major Milestone Today
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The Bitcoin price just crossed the $9,800 resistance and may be well on its way to smash the major $10,000 physiological resistance next.
BTC was trending higher through the early European session on Thursday as a very rare bull signal flashed for the first time in 10 months.
Dubbed as Ichimoku Cloud, the technical indicator turned green to identify a long-term upside trend shortly after bitcoin surged towards $9,769.70 on Wednesday.
It also hinted at the imminent formation of a Golden Cross – a popular candlestick pattern that predicts an upcoming bull market. Analysts at trading signals provider TradingShot called out Ichimoku Cloud for its historical accuracy in the past three years.
They noted that the indicator correctly determined trend directions.
On October 11, 2019, for instance, the Ichimoku Cloud turned red that soon followed the formation of a Death Cross – the opposite of Golden Cross.
The BTC price fell by circa 25 percent shortly after the bearish signal. Similarly, when the Ichimoku Cloud rolled over to green on April 20, 2019, bitcoin soon established a Golden Cross on its daily charts.
The cryptocurrency later swelled by circa 170 percent to mark its year-to-date high towards $13,868.44.
TradingShot explained: “As you can see on the chart, after every bearish Ichimoku roll-over, a Death Cross follows shortly after. Respectively after every bullish Ichimoku roll-over, a Golden Cross follows. Since the new Ichimoku Bullish roll-over just took place, a new Golden Cross in pending (see on the chart how the MA50 and MA200 have already started to converge).”
The Bitcoin prediction came in tandem with similar bullish expectations all across the bitcoin market.
Experts, including billionaire investor Michael Novogratz, the CEO of Galaxy Investment Partners, said the cryptocurrency is eyeing a bull run towards or above $10,000 in the coming sessions.
In what Bitcoin (BTC) supporters are calling “relentless” and “unstoppable”, the BTC network just broke another record today.
For most people, Bitcoin’s success is usually measured in terms of its price.
Even if you’re a long-term HODLer, it’s hard not to get excited by some good old-fashioned volatility and epic 32% monthly hikes.
But while the number one cryptocurrency looks set to break $10,000 very soon, other key metrics are equally as impressive right now.
News has broken that Bitcoin network transactions just surpassed the half a billion mark today!
This number is confirmed by Blockchain.com and comes at a time when the Bitcoin network is hitting new records left and right.
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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:
Zoom out and keep it simple.
The $9100 flip was a big deal for #bitcoin. Former support of the ‘descending triangle’ and the China pump.
Ascending triangle forming on RSI with a clear uptrend channel on the daily. pic.twitter.com/h2ZTXdT8uR
— Jacob Canfield (@JacobCanfield) February 5, 2020
Bitcoin Transactions Hit a Major Milestone Today, Find Out Here
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BITCOIN PRICE DIPS BELOW K AS GLOBAL STOCKS SLUMP! | Ripple CEO Reacts to XRP Sell-Off
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Bitcoin price broke down suddenly below the $9,000 mark, breaking down along with global stock prices.
Crypto analysts believe the Friday slump across markets is a response to the still uncertain trade deal between the US and China.
The DJIA fell by 1% to 26,666 points, the same loss was logged by the S&P 500 futures, to 3,085 points.
The stock prices are a factor with the potential of indirectly influencing the BTC price.
The Bitcoin (BTC) price was mostly stagnant in the past week, calming down with expectations for a bigger move.
In other Cryptocurrency news today, Ripple CEO reacts to XRP sell-off, says bullish trends emerging for Crypto ecosystem at large.
In a new interview, Ripple CEO Brad Garlinghouse offers his take on XRP’s performance in 2019.
Ripple XRP began the year at $0.35 and is now $0.27 at time of publishing, while Bitcoin and most of the Cryptocurrency market at large are in the green for the year.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
November has been historically one of bitcoin’s greatest performing months dating back to 2012.
November 2018 was the main (and memorable) exception.$BTC is presently up only 1.5% for November 2019…What will the next 3 weeks bring?#bitcoin pic.twitter.com/I9NVDlNrzm
— James Todaro (@JamesTodaroMD) November 5, 2019
https://cointelegraph.com/news/bitcoin-rallies-hardest-in-november-so-why-are-the-charts-bearish
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