Bitcoin hit its highest daily close of 2020.

BTC appears to be on the verge of breaking past an ascending triangle pattern.

There is resistance near $ 17,200.

On November 11, Bitcoin (BTC) closed the day at $ 15,707, which is its highest daily close level in 2020.

The price is currently looking to break through an ascending triangle. It is expected to be successful which could push BTC up to the next resistance at $ 17,000.

Bitcoin hits 2020 high daily close

On November 12, Bitcoin’s price resumed its upward movement and hit a high of $ 15,991.

Even though BTC then fell back to $ 15,707, leaving a higher wick in its wake, it still closed on November 6 at a level above the previous 2020 high of $ 15,610.

Profit Secret continued its ascent on November 12, and is currently trading just above $ 15,900.

The shorter-term six-hour chart shows price is on the way to breaching the horizontal resistance at $ 15,800, as well as an ascending triangle within which it has been moving since November 3.

Technical indicators are bullish, knowing that the RSI is above 50. In addition, the MACD line is above 0, and its histogram is about to turn positive.

If the price exceeds the triangle, to its full height, it would push BTC up to $ 17,200

The one hour chart shows the considerable buy strength, visible in the long lower wick price created as soon as it hit the old resistance at $ 15,500. This area is now converted to support.

BTC’s weekly timescale shows price is approaching a long-term resistance zone, between $ 16,130 and $ 17,257.

This area was first horizontal resistance in January 2018, and corresponds to the fibonacci levels 0.786 to 0.854 of all the bearish movement that has taken place since.

BTC is very close to first resistance and its technical indicators are bullish. This suggests that price will be looking to move up towards the resistance area of ​​$ 17,257.

What have been the effects of halving on Bitcoin’s price?

In Bitcoin’s history, we had 3 halvings. When Bitcoin Mining (BTC) was launched, the miners received 50 BTC by successfully mining a block. In 2012 this reward was reduced to 25 BTC, in 2016 it was reduced to 12.5 BTC, and now in 2020 it’s 6.25 BTC, after the third halving. In short, Bitcoin mining is more difficult and more expensive.

Each halving has definitely had an impact on the price, but never in the short term and this time it’s no different. Six months after the third halving, which took place in May, it hasn’t yet been possible to measure the direct effects on the price of Bitcoin, resulting from cutting emissions, creating a scarcity based on a mathematical concept that simulates the scarcity of gold. Why haven’t we seen the effects of the halving on the price of Bitcoin yet?

After the first halving, the price increased from $12 in November 2012 to a high of $1,100 in November 2013 (12 months later). Similarly, the second halving increased sharply 11 months later, from $650 in July 2016 to over $2,500 in May 2017. The most direct interpretation of this is that the halving introduces a restriction of supply, driving demand, always between 200 days and 16 months.

The concept behind this phenomenon is known as Expansion Cycles, where the statistical model known as Stock-to-flow, a concept created by the analyst popularly known as PlanB.  For PlanB, the next Expansion Cycle will take Bitcoin to $55,000.

PlanB’s $55,000 forecast, based on Stock-to-Flow, is based on the relationship between scarcity, current supply, and the amount of new issuance of an asset to determine the impact on price. This same model recorded the peak of $20,000 reached by Bitcoin at the end of 2017, approximately one year after the previous reduction by half.

Increasing the hash rate as a thermometer

Although miners receive fewer Bitcoins after each halving, according to PlanB, the Bitcoin hashrate (the technical term used to measure the computing power of the Bitcoin logical network) has skyrocketed by more than 6,800%. Despite the growing fears of some that the miners might capitulate, they were constantly putting more computing power into maintaining the network.

The hash rate reached an impressive 150 exahashes after 11 years. To understand this, 1 exahash is equal to 1 million times 1 terahash. This computing power, concentrated in Bitcoin mining, makes your network impregnable to any DDOS attack, for example. The Bitcoin network has been running uninterrupted for 11 years without ever being paralyzed by any event.

Raoul Pal: A ‚huge pile of money‘ will make Bitcoin worth $1 million by 2025

What is the effect of this on the price? The price of Bitcoin is intrinsically related to the difficulty of its exploitation, that is, the more difficult it is to extract it, the more expensive it is to extract it and this cost tends to be passed on to the final price. In a simple equation between production, supply and demand.

DeFi hype can still be agitated and disorganized

The decentralized financial sector of the cryptoesphere has reached a frenetic status within the crypto industry, spearheaded by lush price hikes and rampant speculation.

„DeFi is Ethereum’s new exaggeration,“ MyEtherWallet, or MEW, CEO and founder Kosala Hemachandra told the Cointelegraph in an interview. „It’s too much noise, so everyone is just running around trying to figure out what the next big thing is and then putting a lot of money into it without even knowing the projects,“ he said.

In 2019, DeFi probably brought to mind different concepts than we see today. DeFi, in essence, existed as a way for people to borrow, lend, and store funds based on their crypto reserves.

Throughout 2020, however, the DeFi sector was inflated, stimulating projects without consistency, gaining significant attention as speculators moved their Bitcoin Secret in search of the best profit from speculation on the price of interest bearing currencies and vehicles. Hemachandra’s comments refer to this new moment driven by exaggeration.

The founder of MEW explained that DeFi boasts both losers and winners, with winners adding more hype to the movement. As a byproduct of the hype, Ethereum network transaction fees have skyrocketed in recent weeks, sometimes costing users between $40 and $80 per transaction.

„That is the main cause of the gas price problem at Ethereum from now on,“ Hemachandra said. He noted, however, that the current situation is an opportunity for the industry to meet the challenge and improve the solutions around Ethereum, explaining that tension can stimulate growth.

Others noted that another potential problem with DeFi is due to Ethereum’s low transaction per second.

Bitcoin se ha estancado después de probar 11.000 dólares dos veces y no mantenerse por encima de este nivel crítico.

En el momento de escribir este artículo, la moneda se negocia ahora a 10.950 dólares, ligeramente por debajo de este nivel crucial.
Bitcoin se mantiene en un estado alcista a medio plazo, con un analista apuntando a una decisiva señal de continuación alcista.
La señal se vio por última vez antes de la subida de 2.500 dólares de la marca de 9.000 dólares a 12.000 dólares en una semana.
Una repetición de la historia significará que el BTC está al borde de un notable aumento.
Bitcoin forma una señal de inversión central
Un comerciante de criptografía señaló recientemente que las roturas de canal alcista de RSI de Bitcoin el año pasado condujeron a una fuerte continuación de la tendencia.

Ha dividido el gráfico de abajo, que muestra que la última vez que el RSI de Bitcoin se vio así, saltó 2.500 dólares en una semana.

La repetición de la historia significará que el BTC está al borde de un notable aumento.

Gráfico de la evolución del precio de las acciones de BTC desde principios de año con análisis de CrypotHamster (@Cryptohamsterio en Twitter). Gráfico de TradingView.com
Cabe señalar que el mismo analista es bajista a corto plazo. Sin embargo, esto no invalida de ninguna manera el análisis anterior, que sugiere que Bitcoin se encuentra en medio de una ruptura a medio plazo.

La razón por la que este analista es bajista a corto plazo es porque hay varias señales en el gráfico a corto plazo de Bitcoin que indican que una corrección es inminente. Algunas de estas razones son las siguientes:

Bitcoin ha formado un Tom Demark Secuencial „9“ en su gráfico diario, indicando una inversión bajista.
El BTC ha confirmado 11.000 dólares como resistencia al formar una mecha por encima de ese nivel y luego no poder mantenerse por encima de ese nivel.
Hay divergencias bajistas ocultas que se forman entre la reciente acción del precio de Bitcoin y dos indicadores: el RSI estocástico y la transformación de Fisher. Ambos indicadores son indicadores de tendencias.
Los analistas de la cadena están de acuerdo con esto
El análisis de la cadena concuerda con la evaluación del comerciante mencionado anteriormente de que Bitcoin está involucrado en una inversión a medio plazo.

Willy Woo, un prominente analista de cadenas, escribió la semana pasada sobre las perspectivas de BTC:

„Otro impulso para que las monedas cambien de manos se ha completado y el próximo giro en las próximas semanas debería ser hacia arriba. Es muy poco probable que veamos algún tipo de dumping catastrófico de precios desde aquí. Con todo, no espero ningún mega-dumping, una cierta posibilidad de pequeños latigazos en los cortos períodos de tiempo, la resistencia está fluctuando. No es un mal momento para entrar, si eres un inversor spot, si miras la macro con un alcance mayor. Hay un amplio apoyo para comprar por debajo de 10.000, este es un escenario de „comprar la salsa“.“
Su análisis sugiere que se produce una inversión de tendencia siempre que se produce un cambio en el valor de Bitcoin que se transfiere en la cadena.

Por lo que sabemos, el pico más reciente en las transacciones en cadena fue probablemente MicroStrategy, que compró más de 17.000 BTC en una transacción OTC.

Vaikka Bitcoin , Ether ja muut digitaaliset hyödykkeet tunnetaan salausvaluutan muodoina, monet kentällä ja sen ulkopuolella ovat eri mieltä „valuutta“ -osasta. Jotkut kutsuvat näitä digitaalisia hyödykkeitä „arvon varastoksi“ ja toiset vain kutsuvat niitä arvottomiksi keinotteluajoneuvoiksi.

Koko historiansa ajan Bitcoin on taistellut tunnustettavaksi luotettavaksi. Ja taistelu on ollut useammalla kuin yhdellä rintamalla

Bitcoinin ja muiden lohkoketjuprotokollien on jatkuvasti kohdattava kysymyksiä siitä, onko tekniikka järkevää ja turvallista, ennen kuin edes astutaan jalkaasi kehään selvittääkseen, onko se valuutta vai ei.

Mutta monet kryptovaluutta-harrastajat ja blockchain-asiantuntijat pitävät Bitcoin Code jatkuvasti täydellistä suorituskykyä yli vuosikymmenen ajan todisteena siitä, että se voi toimia tarkoitetulla tavalla täysin hajautettuna rahoitusvälineenä.

Cameron Winklevoss, merkittävä Bitcoin-miljardööri ja Gemini-kryptovaluutanvaihdon perustaja sanoo, että BTC: n ja ETH: n lisäksi ovat uusia valuutan muotoja, mutta ne ovat erinomaisia ​​esimerkkejä orgaanisesta teknologisesta ja taloudellisesta kasvusta.

„#Bitcoin ja Ether ovat syntyvää rahaa. Heitä ei ole pakotettu kenellekään, heidän adoptointinsa on rauhallista ja orgaanista. Fiat-raha on väkivaltaista rahaa, sen käyttöönotto vaatii aina voimaa. “

Maissa, jotka ovat viime aikoina kärsineet talouskatastrofeista ja valuutan romahduksista, kuten Turkissa, Libanonissa ja Venezuelassa, kansalaiset ovat kääntyneet Bitcoinin puoleen aivan kuten Cameron Winklevoss selitti. Pakotettu käyttämään arvon tai valuutan umpikujaa, näiden maiden yleisö lopulta halusi kääntyä BTC: n puoleen turvasatamana.

Yhteiskunnallinen muutos, jossa Bitcoinia käytetään yleisenä vaihtovälineenä, voi olla vielä vuosien päässä. Mutta instituutiot ja sääntelyviranomaiset ovat alkaneet pehmentää kantaansa digitaalisen omaisuuden käyttöön ja leviämiseen. Heinäkuussa tapaus Yhdysvallat vastaan ​​Harmon sai liittovaltion tuomioistuimet tekemään tärkeän lausunnon rahasta. Ylätuomari Beryl A. Howell totesi, että rahalla tarkoitetaan yleensä vaihtovälinettä, maksutapaa tai arvon säilyttämistä. Bitcoin on näitä asioita. „

Silti joka päivä näemme yhä useamman yrityksen kääntyvän Bitcoiniin ja muihin blockchain-ratkaisuihin

Jopa Visa-kaltaiset megamaksujen käsittelyyritykset ovat yhä kiinnostuneempia tarjoamaan kryptovaluutta-palveluja asiakkaille .

Kun sekä julkinen että perinteinen tekninen sektori itse tietävät paremmin mitä blockchain voi tehdä, kehitystyö lisääntyy räjähdysmäisesti. Ja kun kryptovaluuttojen käyttö on entistä mukavampaa, näemme sen käytön tasaisen lisääntymisen jokapäiväisessä elämässä, mikä vahvistaa Winklevoss-ilmoitusta salauksesta, joka on rahaa.

I possessori di grandi portafogli Bitcoin hanno trasferito decine di milioni di dollari di criptovaluta con lo slancio del prezzo che si è spostato verso il basso.

• Decine di milioni di dollari sono stati spostati dai portafogli Bitcoin quando il mercato è crollato durante il fine settimana.
• Tuttavia, potrebbe essere stato un cripto-borse a spostare le loro partecipazioni al posto degli investitori, ha detto un esperto del settore.
• Il crollo dei prezzi è stato correlato con una più ampia vendita nei mercati tradizionali, hanno dimostrato i dati.

Le balene bitcoin hanno spostato milioni di dollari di criptovaluta

Le balene bitcoin hanno spostato milioni di dollari di criptovaluta durante il fine settimana, dopo che un più ampio sell-off venerdì scorso ha visto il prezzo del Bitcoin crollare del 10%.

Secondo i dati di on-chain tracker Whale Alert, portafogli „balena“ – un termine colloquiale per i possessori di grandi quantità di Bitcoin Billionaire – ha portato oltre 6.000 Bitcoin (circa 60 milioni di dollari ai tassi attuali) agli scambi asiatici Huobi e OKEx solo il 5 settembre, seguiti da altri 2.000 Bitcoin (≈ 20 milioni di dollari) il 6 settembre.

Binance, con sede a Malta, uno dei principali scambi per volumi giornalieri, ha visto solo due grandi afflussi di 1.175 Bitcoin e 1.000 Bitcoin (per un totale di circa 23 milioni di dollari) il 5 settembre, senza trasferimenti in uscita come da Whale Alert.

A parte gli scambi, Xapo, un servizio di custodia Bitcoin istituzionale che sostiene di conservare i fondi degli utenti in un ex bunker dell’esercito svizzero, ha visto un grande deflusso di oltre 1.000 Bitcoin (circa 10 milioni di dollari) verso un portafoglio „sconosciuto“, e nessun afflusso.

Perché le balene spostavano i Bitcoin?

Questi particolari movimenti di balene Bitcoin non sono dovuti a grandi investitori e commercianti che hanno venduto le loro partecipazioni Bitcoin. Per motivi di sicurezza, gli scambi di crittografia e i servizi di custodia non tengono i fondi degli utenti sui loro „portafogli caldi“, e spostano regolarmente le valute crittografiche in base alle dinamiche di mercato e alla domanda.

I movimenti dei portafogli, da soli, non influenzano necessariamente i prezzi delle valute crittografiche. „Non è niente di strano, ogni pochi giorni ci sono trasferimenti in entrata e in uscita di 2.000-3.000 BTC da portafogli sconosciuti a OKEx“, ha detto a Decrypt Jonathan Leong, il fondatore del crypto exchange BTSE.

Tuttavia, l’amministratore delegato di OKEx, Jay Ho, ha sottolineato che „anche gli avvisi su Twitter come questo possono servire a diffondere il FUD“. Ha spiegato:

„Da quando i tweet di Whale Alert sono diventati sinonimo di una discarica di BTC in arrivo quando i fondi vengono spostati in una borsa, spesso servono a far crollare il mercato inutilmente, dato che non conosciamo l’intenzione di spostare la BTC“.

Tuttavia, questo anonimato, ha sostenuto, è una delle „bellezze“ di Bitcoin. „Nessuno può impedire che una transazione avvenga, nessuno può interferire con i movimenti di qualcun altro e nessuno può impedire a nessuno di scaricare sul mercato se lo desidera“, ha detto. „Con la libertà della sovranità finanziaria, dobbiamo accettare alcuni compromessi – e non avere attori centrali che interferiscono significa che il mercato farà inevitabilmente grandi mosse e non sempre nel modo che vogliamo“.

Nel frattempo, i movimenti del portafoglio sono arrivati mentre Bitcoin seguiva una svendita nei mercati azionari statunitensi, evitando la storia della cripto-valuta di essere una copertura affidabile contro i mercati finanziari.

„Mentre i mercati globali e il prezzo dell’oro sono stati oggetto di dumping come le azioni statunitensi hanno aperto in rosso oggi, Bitcoin ha scaricato da 10.500 a 10.030 dollari nell’arco di circa 80 minuti su CoinbasePro“, ha osservato la società di analisi a catena Santiment in un tweet.

Ha aggiunto: „Finché le paure pandemiche non si dissipano in tutto il mondo, prevediamo ancora una correlazione superiore alla media“.

De hoofdontwikkelaar van Sushiswap verkocht al zijn tokens, wat leidde tot een enorme daling van de prijs van SUSHI. Ondertussen verloor de hele markt ongeveer $ 11 miljard in uren.

Eerder op zaterdag verkocht de hoofdontwikkelaar achter het populaire Sushiswap-protocol al zijn tokens, waardoor de prijs van het token met meer dan 50% daalde.

Elders voelt de hele markt voor cryptocurrency de druk, aangezien de totale kapitalisatie de afgelopen uren met meer dan $ 11 miljard is gedaald.

Sushi Seloff start een marktinstorting

CryptoPotato meldde eerder dat de hoofdontwikkelaar van de populaire Uniswap-vork, Sushiswap, al zijn tokens ruilde voor Bitcoin Trader. In een transactie die miljoenen waard was, legde de ontwikkelaar uit dat hij dit deed om aan het protocol te blijven werken en zich geen zorgen te maken over de prijs.

Natuurlijk was de gemeenschap min of meer verontwaardigd, vooral nadat de ontwikkelaar zichzelf vergeleek met Charlie Lee, de maker van Litecoin, en beweerde dat hij de ETH verdiende die hij kreeg voor zijn SUSHI vanwege het werk dat hij aan het protocol deed. Hij heeft er tenslotte een week werk in gestoken.

Niettemin daalde de prijs van het SUSHI-token en verloor meer dan 50% in de momenten na de ruil, wat enigszins werd verwacht.

Bitcoin onder $ 10.000 terwijl ETH daalde tot bijna $ 300

De volledige marktkapitalisatie van cryptocurrency verloor de afgelopen uren alleen al ongeveer $ 11 miljard.

Hoewel Bitcoin op Binance daalde tot ongeveer $ 9.825, slaagde het erin zich te herstellen, en het handelt momenteel rond $ 10.030, wat alleen al in de afgelopen 24 uur een steile decreet van 5% aangeeft.

Ethereum is echter de altcoin met een grote kapitalisatie die het meest bloedde. Tot dusverre is ETH vandaag met 15% gedaald, en dat is na enigszins hersteld te zijn van zijn ondergang.

ETH daalde zelfs tot $ 308 op Binance. Nog maar een paar dagen geleden testte het $ 500, met een piek van ongeveer $ 488 op ’s werelds grootste beurs. Dit betekent dat ETH alleen al in de afgelopen drie dagen meer dan 30% heeft verloren.