After a short consolidation, Bitcoin went up again and renewed highs. Less than an hour ago, set a new ATH at 35948, after which it bounced to 35300-35400, where it is currently trading. Total CryptoMarket capitalisation is at $944 billion with a #BTC dominance index 69.1%.
Financial markets were up yesterday. The S&P 500 closed at 3726, gaining 0.71%, the Dow Jones rallying 0.55% and the Nasdaq adding 0.95%.
The leaders in gainers were the oil and gas sector, which grew on news of a successful OPEC deal. The increase in production turned out to be less than expected, the Saudis showed unprecedented loyalty, who will voluntarily reduce production in February. Oil reacted as expected - Brent around 54, WTI around 50.
Bitcoin worked out an alternative option from yesterday's review - after consolidating in the range of 31000-32800, the main cryptocurrency managed to gain a foothold above 32800, after which Bitcoin took new highs. Now the ATH of Bitcoin is 35948. As mentioned, the correction below 30K on January 4 created good conditions for further growth. The brains of those who like to talk about the "bubble" and "an unsecured Bitcoin that will soon collapse" has received another blow. Some of them are already looking for options to take out a loan to buy Bitcoin. I hope not you!
Market capitalisation is 50 billion shy to hit 1 trillion. I think that a more significant correction is possible from this level. Altcoins are growing, and the Bitcoin dominance index, which is again above 69%, retains the opportunity to grow further if Bitcoin stabilises.
Unexpectedly good news from the United States - the regulator has allowed banks and savings funds to use #blockchain and stablecoins to conduct payment transactions.
Interestingly one well-known hedge fund One River Asset Management acquired Bitcoin and Ether for 600 million, back in November. And on January 2, there were large purchases on Coinbase.
In another twist, according to a report from celebrity publication Page Six, socialite Kim #Kardashian West and rapper #Kanye West are headed for a hard fork after six years of marriage. Back in July 2018, Matthew Roszak, chairman and co-founder of a blockchain technology firm publicly gifted Kim Kardashian 1 BTC, then worth about $8,000. It’s probably a pittance compared to her income, a point Roszak concedes. Regardless of its value, her Bitcoin will nonetheless come up in divorce proceedings. In California it would be treated like Community Property unless they have a prenuptial agreement, which they probably do.” (We checked: They do, but it’s unclear what their prenup says about gifted digital assets.) Community property refers to a type of income or property acquired after a marriage. Spouses equally own it. And, thus, it can be divided as part of a divorce. A California-based attorney commented. Kardashian too might want to investigate West’s #crypto dealings. The rapper famously told podcaster Joe Rogan—and his legion of listeners—in October 2020 that Bitcoiners “are guys that really have a perspective on what the true liberation of America and humanity will be.” Source | Decrypt
In closing As long as Bitcoin holds above 33700-33500, new highs are likely. A return below these levels will result in a consolidation in the 31000-34000 range. Correction from the capitalisation level of 1 trillion is possible.
As always wishing you a blessed day ahead and remember this is not traditional investment advice, do not take it as financial advice. Must do your own research. #decryptedge
Financial markets were up yesterday. The S&P 500 closed at 3726, gaining 0.71%, the Dow Jones rallying 0.55% and the Nasdaq adding 0.95%.
The leaders in gainers were the oil and gas sector, which grew on news of a successful OPEC deal. The increase in production turned out to be less than expected, the Saudis showed unprecedented loyalty, who will voluntarily reduce production in February. Oil reacted as expected - Brent around 54, WTI around 50.
Bitcoin worked out an alternative option from yesterday's review - after consolidating in the range of 31000-32800, the main cryptocurrency managed to gain a foothold above 32800, after which Bitcoin took new highs. Now the ATH of Bitcoin is 35948. As mentioned, the correction below 30K on January 4 created good conditions for further growth. The brains of those who like to talk about the "bubble" and "an unsecured Bitcoin that will soon collapse" has received another blow. Some of them are already looking for options to take out a loan to buy Bitcoin. I hope not you!
Market capitalisation is 50 billion shy to hit 1 trillion. I think that a more significant correction is possible from this level. Altcoins are growing, and the Bitcoin dominance index, which is again above 69%, retains the opportunity to grow further if Bitcoin stabilises.
Unexpectedly good news from the United States - the regulator has allowed banks and savings funds to use #blockchain and stablecoins to conduct payment transactions.
Interestingly one well-known hedge fund One River Asset Management acquired Bitcoin and Ether for 600 million, back in November. And on January 2, there were large purchases on Coinbase.
In another twist, according to a report from celebrity publication Page Six, socialite Kim #Kardashian West and rapper #Kanye West are headed for a hard fork after six years of marriage. Back in July 2018, Matthew Roszak, chairman and co-founder of a blockchain technology firm publicly gifted Kim Kardashian 1 BTC, then worth about $8,000. It’s probably a pittance compared to her income, a point Roszak concedes. Regardless of its value, her Bitcoin will nonetheless come up in divorce proceedings. In California it would be treated like Community Property unless they have a prenuptial agreement, which they probably do.” (We checked: They do, but it’s unclear what their prenup says about gifted digital assets.) Community property refers to a type of income or property acquired after a marriage. Spouses equally own it. And, thus, it can be divided as part of a divorce. A California-based attorney commented. Kardashian too might want to investigate West’s #crypto dealings. The rapper famously told podcaster Joe Rogan—and his legion of listeners—in October 2020 that Bitcoiners “are guys that really have a perspective on what the true liberation of America and humanity will be.” Source | Decrypt
In closing As long as Bitcoin holds above 33700-33500, new highs are likely. A return below these levels will result in a consolidation in the 31000-34000 range. Correction from the capitalisation level of 1 trillion is possible.
As always wishing you a blessed day ahead and remember this is not traditional investment advice, do not take it as financial advice. Must do your own research. #decryptedge
Yesterday we didn't have our review, nonetheless #Bitcoin continues to hit highs, with its last ATH at $41,940.09 just a few hours ago as of writing this. Before this there were two corrections in the early morning which were bought out from the level of 36600, after which Bitcoin returned above 38K, it has since broken this level and is now trading within the 39,500-41500 range. Total CryptoMarket capitalization 1,024 billion, and BTC dominance index of 70.1%.
Stock markets were up yesterday. The Dow Jones updated the ATH, the S&P 500, which closed at 3803.79, and the Nasdaq (2.56% up) did the same. Oil continues to rise, while gold declines slightly as investors are willing to take risks and look forward to further growth in the stock market. There are no economic reasons for such growth.
There is Congress and the Senate under the Democrats who are ready to generate dollars more actively than it was before. Biden has already said that the 900 billion aid package is just the beginning, so the market reaction is quite expected. Now S&P 500 futures are growing, and Asian markets are growing too.
Bitcoin renewed its highs several times, reached the psychological level of 40K, the last ATH at 41940. Regarding the capture of 1 trillion in capitalization, as I spoke about here (https://t.me/decryptedge/185) - the level was taken several times and rolled back, now it is taken again, if we hold on, further growth will continue.
The Bitcoin Dominance Index above 70% indicates that the growth of alts is not over yet, the potential remains. The 1 trillion physiological level helped by Ripple, which rose more than 40% yesterday.
*There is a consensus on the market again about further growth, and this is dangerous.* A correction is inevitable, and the only question is, will it happen right now, or after another wave of altcoin growth? The second option is more likely.
If today there are no surprises, and Bitcoin leaves for the weekend above 38K, (or at least does not fall below 37200-37000), at the weekend I expect an increase in altcoins and a fall in the dominance index in the range of 65-67%. I consider this option a priority.
An alternative option is to take 41K fast. Then it will be the same, but one floor higher...42K
The fall of Bitcoin below 36,500 with consolidation and the loss of 1 trillion of capitalization - there will be several days of consolidation and further growth.
If you prioritize the options, then 1-2-3.
Option 1 is possible with a further transition to option 2.
Interestingly, the Bithumb exchange (the largest exchange in South Korea) is going to be acquired by the Nexon Group corporation. The estimated amount of the deal is about $ 457 million. FYI: a report by Reuters back in APRIL 12, 2019 a Local media named Amazon, Comcast and Electronic Arts as initial bidders, but Reuters could not verify that. Chinese gaming giant Tencent, its South Korean peer Kakao, as well as private equity firms Bain Capital, MBK Partners and KKR submitted initial bids, according to five sources.
So in closing: Do not forget that the end of the market cycle may already be - the TOP alts have grown significantly, and since the capitalization has hit the physiological level of 1 trillion, it can be difficult to pass this level without a rollback.
The situation will clear up over the weekend. There will be either a rollback and a retry of taking 1 trillion. (We recall how 400 billion was taken quite recently or the level of 1 trillion already fixing above it The first option is more likely.
But if the second works, the market will not have reverse gear at all for 7-10 days.
As always wishing you a blessed weekend ahead, and must always do your own research. This is not traditional investment of financial advice. #Decryptedge
Tomorrow we are back with the Bitcoin 101. @10am live on facebook and Youtube.
Stock markets were up yesterday. The Dow Jones updated the ATH, the S&P 500, which closed at 3803.79, and the Nasdaq (2.56% up) did the same. Oil continues to rise, while gold declines slightly as investors are willing to take risks and look forward to further growth in the stock market. There are no economic reasons for such growth.
There is Congress and the Senate under the Democrats who are ready to generate dollars more actively than it was before. Biden has already said that the 900 billion aid package is just the beginning, so the market reaction is quite expected. Now S&P 500 futures are growing, and Asian markets are growing too.
Bitcoin renewed its highs several times, reached the psychological level of 40K, the last ATH at 41940. Regarding the capture of 1 trillion in capitalization, as I spoke about here (https://t.me/decryptedge/185) - the level was taken several times and rolled back, now it is taken again, if we hold on, further growth will continue.
The Bitcoin Dominance Index above 70% indicates that the growth of alts is not over yet, the potential remains. The 1 trillion physiological level helped by Ripple, which rose more than 40% yesterday.
*There is a consensus on the market again about further growth, and this is dangerous.* A correction is inevitable, and the only question is, will it happen right now, or after another wave of altcoin growth? The second option is more likely.
If today there are no surprises, and Bitcoin leaves for the weekend above 38K, (or at least does not fall below 37200-37000), at the weekend I expect an increase in altcoins and a fall in the dominance index in the range of 65-67%. I consider this option a priority.
An alternative option is to take 41K fast. Then it will be the same, but one floor higher...42K
The fall of Bitcoin below 36,500 with consolidation and the loss of 1 trillion of capitalization - there will be several days of consolidation and further growth.
If you prioritize the options, then 1-2-3.
Option 1 is possible with a further transition to option 2.
Interestingly, the Bithumb exchange (the largest exchange in South Korea) is going to be acquired by the Nexon Group corporation. The estimated amount of the deal is about $ 457 million. FYI: a report by Reuters back in APRIL 12, 2019 a Local media named Amazon, Comcast and Electronic Arts as initial bidders, but Reuters could not verify that. Chinese gaming giant Tencent, its South Korean peer Kakao, as well as private equity firms Bain Capital, MBK Partners and KKR submitted initial bids, according to five sources.
So in closing: Do not forget that the end of the market cycle may already be - the TOP alts have grown significantly, and since the capitalization has hit the physiological level of 1 trillion, it can be difficult to pass this level without a rollback.
The situation will clear up over the weekend. There will be either a rollback and a retry of taking 1 trillion. (We recall how 400 billion was taken quite recently or the level of 1 trillion already fixing above it The first option is more likely.
But if the second works, the market will not have reverse gear at all for 7-10 days.
As always wishing you a blessed weekend ahead, and must always do your own research. This is not traditional investment of financial advice. #Decryptedge
Tomorrow we are back with the Bitcoin 101. @10am live on facebook and Youtube.
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KryptoEdge
After a short consolidation, Bitcoin went up again and renewed highs. Less than an hour ago, set a new ATH at 35948, after which it bounced to 35300-35400, where it is currently trading. Total CryptoMarket capitalisation is at $944 billion with a #BTC dominance…
DECRYPT EDGE is inviting you to a scheduled Zoom meeting.
Topic: *DIGITIZATION SHIFT ..... WHERE ARE YOU?*
Time: *Jan 9, 2021 09:55 AM Nairobi*
TODAY on *BITCOIN101* - Let's learn about...
*-#2021 Starts with a Bull Run, But Let's Look at the Four(4) Greatest Threats to #Bitcoin.*
*- Crypto-Markets news and updates.*
*- Open Q & A session.*
Join Zoom Meeting
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Meeting ID: 884 0856 6356
Passcode: BITCOIN101
Topic: *DIGITIZATION SHIFT ..... WHERE ARE YOU?*
Time: *Jan 9, 2021 09:55 AM Nairobi*
TODAY on *BITCOIN101* - Let's learn about...
*-#2021 Starts with a Bull Run, But Let's Look at the Four(4) Greatest Threats to #Bitcoin.*
*- Crypto-Markets news and updates.*
*- Open Q & A session.*
Join Zoom Meeting
https://us02web.zoom.us/j/88408566356?pwd=OVYyZTV5d2RyUkFIQ2t6Vk9SdEFZdz09
Meeting ID: 884 0856 6356
Passcode: BITCOIN101
Boom!! Even the banks want #Bitcoin. #Morgan Stanley just filed an SEC form declaring they now own 792,627 shares (10.9%) of #MicroStrategy. Thoughts on the market on 09.01.2021
Bitcoin once again after renewing its highs at 42125, it dropped to 38700. The correction quickly bought out and for the last 4 hours Bitcoin has been trading in the range of 39600-40600. UPD. While writing the Review, Bitcoin has since dropped to 39200. Total CryptoMarket Capitalization is at 1070 billion and BTC dominance index of 70.1%
Everything was calm and positive on the stock markets yesterday. The S&P 500 rose 0.55% to close at 3824, fresh new highs, the Nasdaq rose 1.03%, and the Dow Jones rose 0.18%. Weak labor market data were ignored by the stock market, but this is becoming the norm lately - markets are growing on data about a weak economy, because it means that more money will be given. Oil rose to 56.25, gold fell by 1849, and the dollar index closed just above 90. The markets are optimistic and risk appetite is there.
💥💣💣💥💣 From calling Bitcoin a fraud to now owning it! Morgan Stanley just filed an SEC form(see attached) declaring they now own 792,627 shares (10.9%) of MicroStrategy. They've increased their position by 360%, adding almost 650,000 shares since Q3 2020. Morgan Stanley now owns 792,627 shares of MicroStrategy, bringing its total ownership in the company best known for holding over $2 billion in bitcoin to 10.9%, according to a filing made with the U.S. Securities and Exchange Commission. Given MicroStrategy's shares are largely tracking the price of bitcoin, which is up more than 40% this year following a 300% gain in 2020, it's likely Morgan Stanley views its investment as a way to benefit from bitcoin's historic run without actually being a HODLer. Microstrategy initially bought 21,454 BTC on August 11 before adding another 16,796 on September 14 to complete this first round of buying. Since then, the listed firm subsequently increased its BTC holdings to 70,470 coins. At the time of writing, the listed company’s BTC holdings were valued at nearly $2.4 billion. I wonder who is fooling who? Source | Coindesk.
With #Bitcoin ATH now above 42K, there was a sell off that led to a correction which was bought out, now we are consolidating between 39-40K.
The dominance index is still above 70%, which indicates a high growth potential for altcoins. If Bitcoin is stably holding in the current trading range, or better yet, fixing above 40K, there is every chance of seeing a local alt season over the weekend.
If Bitcoin does not hold above 39,000, and especially if it goes below 38,000, the alt season is postponed for now. Most of the top has already grown (Ether, Litecoin, ADA, BNB). One could also talk about the end of the market cycle, but a high dominance index suggests that the main money is still in Bitcoin, and there has not yet been an overflow into alts.
The last alt-season, like in January 2018, when any type of scam or shitcoin grew has not been seen in 2021. We will not see a dominance index below 50%. It is not a fact that we will see even below 60%. But the potential of the TOP to grow by 20-30%, with a decrease in dominance to 67-65%, remains.
As always wishing you a blessed weekend ahead, and must always do your own research. This is not traditional investment of financial advice. #Decryptedge
Everything was calm and positive on the stock markets yesterday. The S&P 500 rose 0.55% to close at 3824, fresh new highs, the Nasdaq rose 1.03%, and the Dow Jones rose 0.18%. Weak labor market data were ignored by the stock market, but this is becoming the norm lately - markets are growing on data about a weak economy, because it means that more money will be given. Oil rose to 56.25, gold fell by 1849, and the dollar index closed just above 90. The markets are optimistic and risk appetite is there.
💥💣💣💥💣 From calling Bitcoin a fraud to now owning it! Morgan Stanley just filed an SEC form(see attached) declaring they now own 792,627 shares (10.9%) of MicroStrategy. They've increased their position by 360%, adding almost 650,000 shares since Q3 2020. Morgan Stanley now owns 792,627 shares of MicroStrategy, bringing its total ownership in the company best known for holding over $2 billion in bitcoin to 10.9%, according to a filing made with the U.S. Securities and Exchange Commission. Given MicroStrategy's shares are largely tracking the price of bitcoin, which is up more than 40% this year following a 300% gain in 2020, it's likely Morgan Stanley views its investment as a way to benefit from bitcoin's historic run without actually being a HODLer. Microstrategy initially bought 21,454 BTC on August 11 before adding another 16,796 on September 14 to complete this first round of buying. Since then, the listed firm subsequently increased its BTC holdings to 70,470 coins. At the time of writing, the listed company’s BTC holdings were valued at nearly $2.4 billion. I wonder who is fooling who? Source | Coindesk.
With #Bitcoin ATH now above 42K, there was a sell off that led to a correction which was bought out, now we are consolidating between 39-40K.
The dominance index is still above 70%, which indicates a high growth potential for altcoins. If Bitcoin is stably holding in the current trading range, or better yet, fixing above 40K, there is every chance of seeing a local alt season over the weekend.
If Bitcoin does not hold above 39,000, and especially if it goes below 38,000, the alt season is postponed for now. Most of the top has already grown (Ether, Litecoin, ADA, BNB). One could also talk about the end of the market cycle, but a high dominance index suggests that the main money is still in Bitcoin, and there has not yet been an overflow into alts.
The last alt-season, like in January 2018, when any type of scam or shitcoin grew has not been seen in 2021. We will not see a dominance index below 50%. It is not a fact that we will see even below 60%. But the potential of the TOP to grow by 20-30%, with a decrease in dominance to 67-65%, remains.
As always wishing you a blessed weekend ahead, and must always do your own research. This is not traditional investment of financial advice. #Decryptedge
Trust we all doing well this Sunday. Since we dont have market thoughts today, I thought to share this.
Some of us may have got the above.. here is a small clip to explain and break it down.
Panic Sale Begins: Did you Buy in Because of Price? #FOMO or the Potential Disruptive Power of #Crypto. Thoughts on the market 11.01.2021.
#Bitcoin until mid of yesterday held above 40K, then followed by a correction to 39500-39600, it again declined, reaching lows below 35300, after which it is now trading between 36 and 37K. Total Crypto Market capitalization is at $1005 billion with BTC dominance index of 68.3%.
UPD. While writing this review, Bitcoin dropped to 35600, market capitalization fell to 970 billion.
Financial markets opened positively overall. Asian indices are rising, Brent is above 55, S&P 500 futures are down slightly. The dollar index is alarming, which opened with growth and reached 90.41 at a maximum, in case of further growth for the markets, this will put pressure on the markets.
On the crypto market this weekend, It worked out a version of the local altseason, which was discussed here (https://t.me/decryptedge/193). Market capitalization reached values above 1.1 trillion, Ether went above 1340, most of the TOP altcoins showed good growth. Yesterday afternoon, Bitcoin went down. At first, support was lost at 39600, then on the second attempt they went below 37600, now trading below 35K, with lows about 33600. At the moment, the decline continues. I think this is a correction similar to the one a week ago (https://t.me/decryptedge/178).
The round bottom is at 30600-30500. It is not a fact that it will be achieved, but at the moment I see movement further unlikely. The new trading range will be clear after Bitcoin stabilizes. A return above 36K is required for continued growth. It's possible for it to hit 24K (Major support) / extend to 20K when you factor in panic selling, a bounce IF 32K support breaks. As you can see already on the news just by searching #Bitcoin on Google. From #CNBC, #Bloomberg etc.. Invest time and energy in learning the basic fundamentals. @Danheld one of the Bitcoin influencers says “To truly understand more so appreciate #Bitcoin you must have some grasp of: - Economics & Money - Open-Source Software - Computer Science - Game Theory - Politics and Law - Trading and Investing - Digital & Physical Security.” Seems a lot right..nothing comes easy. #Decryptedge is here to simplify and break it down for you.
Interestingly, #EOS founder Daniel Larimer has left. He says the reason is because he doesn't believe in providing "freedom as a service." But it is clear that the reason is more prosaic - not otherwise, he feels something behind him and fears attention from the SEC. However, he had previously left projects after the sale of coins to investors. Steem and Bitshares are also his projects.
This is not financial advice, analysis and market thoughts is to give you an idea about Bitcoin price movement (not buy or sell advice) so before following any idea be sure to do your own research, and follow your risk management. The information we share here is an effort and view from where we sit. It is subject to success or failure and we welcome constructive criticism 🙏.
#Bitcoin until mid of yesterday held above 40K, then followed by a correction to 39500-39600, it again declined, reaching lows below 35300, after which it is now trading between 36 and 37K. Total Crypto Market capitalization is at $1005 billion with BTC dominance index of 68.3%.
UPD. While writing this review, Bitcoin dropped to 35600, market capitalization fell to 970 billion.
Financial markets opened positively overall. Asian indices are rising, Brent is above 55, S&P 500 futures are down slightly. The dollar index is alarming, which opened with growth and reached 90.41 at a maximum, in case of further growth for the markets, this will put pressure on the markets.
On the crypto market this weekend, It worked out a version of the local altseason, which was discussed here (https://t.me/decryptedge/193). Market capitalization reached values above 1.1 trillion, Ether went above 1340, most of the TOP altcoins showed good growth. Yesterday afternoon, Bitcoin went down. At first, support was lost at 39600, then on the second attempt they went below 37600, now trading below 35K, with lows about 33600. At the moment, the decline continues. I think this is a correction similar to the one a week ago (https://t.me/decryptedge/178).
The round bottom is at 30600-30500. It is not a fact that it will be achieved, but at the moment I see movement further unlikely. The new trading range will be clear after Bitcoin stabilizes. A return above 36K is required for continued growth. It's possible for it to hit 24K (Major support) / extend to 20K when you factor in panic selling, a bounce IF 32K support breaks. As you can see already on the news just by searching #Bitcoin on Google. From #CNBC, #Bloomberg etc.. Invest time and energy in learning the basic fundamentals. @Danheld one of the Bitcoin influencers says “To truly understand more so appreciate #Bitcoin you must have some grasp of: - Economics & Money - Open-Source Software - Computer Science - Game Theory - Politics and Law - Trading and Investing - Digital & Physical Security.” Seems a lot right..nothing comes easy. #Decryptedge is here to simplify and break it down for you.
Interestingly, #EOS founder Daniel Larimer has left. He says the reason is because he doesn't believe in providing "freedom as a service." But it is clear that the reason is more prosaic - not otherwise, he feels something behind him and fears attention from the SEC. However, he had previously left projects after the sale of coins to investors. Steem and Bitshares are also his projects.
This is not financial advice, analysis and market thoughts is to give you an idea about Bitcoin price movement (not buy or sell advice) so before following any idea be sure to do your own research, and follow your risk management. The information we share here is an effort and view from where we sit. It is subject to success or failure and we welcome constructive criticism 🙏.
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KryptoEdge
Bitcoin once again after renewing its highs at 42125, it dropped to 38700. The correction quickly bought out and for the last 4 hours Bitcoin has been trading in the range of 39600-40600. UPD. While writing the Review, Bitcoin has since dropped to 39200.…
The morning drain was stopped at 32900, briefly reaching a minimum of 32600. The drain was bought out, Bitcoin went up, and has been trading above 35K for 2 hours.
What will happen next?
In favor of a fall:
-Long rise, greed index at highs for 2 months.
-The dollar index began to grow, it has been growing since 8.01. If the growth continues, this will put pressure on Bitcoin.
-Capitalization fell below $ 1 trillion.
Give a lift to FUD(fear uncertainty and doubt) in particular, the British bank #HSBC is blocking transactions from crypto-exchanges.
In favor of growth:
The correction was quickly redeemed from 32600. The previous low was at 27600. Highs were being renewed all week.
-On January 14, Biden unveils a new trillion dollar economic bailout plan for lawmakers. If it is adopted (and with the dominance of Democrats in Congress and the Senate, it is unlikely to be otherwise), #Bitcoin will have no other path but to new highs.
-With the fall of Bitcoin, the alts fell, but there is no panic drain.
Etherum is now around $1100, Litecoin is above 140, BCH is above 500, and NEO is near the highs. The dominance index is 68.7% (it was about 70 a week ago, and 72% last weekend).
If the altcoins don't drain, there is no real fear in the market. The situation will change if Bitcoin goes below 30K.
For today, we consider the (1)movement of Bitcoin in the range of 32900-36000 as a priority option. (2). Leaving above 36K with consolidation - transition to growth. (3).Updating lows below 32600 will most likely lead to a test of 30600-30000, further depending on the reaction to the level. If you prioritize the options, then 1-2-3. #Decryptedge.
What will happen next?
In favor of a fall:
-Long rise, greed index at highs for 2 months.
-The dollar index began to grow, it has been growing since 8.01. If the growth continues, this will put pressure on Bitcoin.
-Capitalization fell below $ 1 trillion.
Give a lift to FUD(fear uncertainty and doubt) in particular, the British bank #HSBC is blocking transactions from crypto-exchanges.
In favor of growth:
The correction was quickly redeemed from 32600. The previous low was at 27600. Highs were being renewed all week.
-On January 14, Biden unveils a new trillion dollar economic bailout plan for lawmakers. If it is adopted (and with the dominance of Democrats in Congress and the Senate, it is unlikely to be otherwise), #Bitcoin will have no other path but to new highs.
-With the fall of Bitcoin, the alts fell, but there is no panic drain.
Etherum is now around $1100, Litecoin is above 140, BCH is above 500, and NEO is near the highs. The dominance index is 68.7% (it was about 70 a week ago, and 72% last weekend).
If the altcoins don't drain, there is no real fear in the market. The situation will change if Bitcoin goes below 30K.
For today, we consider the (1)movement of Bitcoin in the range of 32900-36000 as a priority option. (2). Leaving above 36K with consolidation - transition to growth. (3).Updating lows below 32600 will most likely lead to a test of 30600-30000, further depending on the reaction to the level. If you prioritize the options, then 1-2-3. #Decryptedge.
10 Countries That Don't Tax Bitcoin Gains (2021) Thoughts on the market on 12.01.2021.