Ray Dalio Calls #Bitcoin ‘One Hell of an Invention,’ Considers It for New Funds. Thoughts on the market on 29.01.2021.


Bitcoin consolidated above 32K and continued to rise, reaching 34380 at night, followed by a decline to 33800, where it is currently trading. Total CryptoMarket capitalization now at $1billion, BTC dominance index is 63.6%.

Equity markets recovered yesterday from Wednesday's plunge. American indices rose from 0.5% to 1%, the S&P 500 closed at 3787.38. I would like to note the fall of Apple, which happened after the report, where almost all indicators are breaking records, and the good growth of Intel.

A recovery in markets is good. The situation with traders from Reddit, who put a number of hedge funds in a position of submission we talked briefly yesterday. This shows that the free market in the United States is now just as much an illusion as freedom of speech. ...The people on Reddit weren't doing anything illegal, there were no hacks or insider tips, they were just buying shares. Hedge funds filed losses, reported to regulators, and here's the result - Interactive Brokers eliminated option trading on those same stocks, saying it was doing it to "protect itself" Helm funds engage in coordinated buying and selling all the time, working against the crowd in the market and taking money away from them. Now it turned out the other way around, and the crowd was simply turned off the buttons.

On the crypto market, the priority version of yesterday's review is being worked out. Bitcoin and above 32K returned, we already see a market capitalization of 1 trillion, ahead of resistance at 34250-34300, then 34800-35000. #FUD from Davos did not seem to be justified, everything went smoothly. We are waiting for the expiration of options and the opening of new ones.
For today and the weekend I expect movement in the range of 32600-34800 and the growth of altcoins.

Interestingly, Ray Dalio's Bridgewater Associates is considering buying Bitcoin. It seems like nothing surprising, it's about time, if you haven't done it before. Only earlier did he say that Bitcoin is a bubble. The ability to admit one's mistakes, especially in public, is a strong quality that is available to few.
Dalio said he felt compelled to “clarify what I think of Bitcoin” and cautioned clients he’s no expert.
Among his other comments: Bitcoin has succeeded in “crossing the line” from speculative idea to something likely to have value.
“Because there aren’t many of these gold-like storehold of wealth assets that can be held in privacy and because the sizes of their markets are relatively small, there exists the possibility that Bitcoin and its competitors can fill that growing need.” Source Bloomberg.

Wishing you a great day/weekend and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge

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#Bitcoin moved between 32,200 and 34,800 over the weekend. Got to the near bottom of the range last night, after which it moved up and is now trading around 33,700. Total CryptoMarket capitalization is at $997 billion with a BTC dominance index of 62.5%.

#American indices fell twice over the past week by more than 2% per session, the week too it ended with a fall. At the opening of the markets, futures for the S&P 500 continued to decline, now trading below 3700. Metals on the contrary are growing, especially silver.

Jannette Yellen says the aid package needs to be accepted immediately, which is good for the markets., however there is a possible reduction of the package to 600-800 billion, as suggested by the Republicans in the Senate, it will be perceived negatively. Expectation of a 1.9 trillion package, which Biden had previously announced, was laid down.

Possible negative news for vaccines. The low effectiveness of vaccines against new mutations of the coronavirus is reported by the CEO of PFIZER, a vaccine manufacturer. No wonder he sold his stake at the announcement of the vaccine release. We talked about this back in November 2020(https://t.me/decryptedge/68)

On the crypto market, everything goes according to plan. #Bitcoin moved in the specified range, market capitalization went above 1 trillion, and even now around this level, Bitcoin's dominance has decreased, mainly due to the growth of XRP. Ripple gave an answer to the SEC lawsuit, where they reasonably showed the far-fetched arguments of the regulator. The denouement is coming soon. Remember the XRP forecast for the first half of the year (https://t.me/decryptedge/165). Ripple announced cooperation with a number of central banks on the development of CBDC.

FUD from India possible.They are again going to consider in parliament a bill to ban the crypto. They have been doing this regularly since 2018). There was already a ban on banks not to work with crypto, followed by a repeal of the same ban by the Supreme Court. This is the third wave.

If there is a ban now, it may cause a decline in the short term, but it will not change the medium-term prospects. For India, this is bad, but the market will digest the situation, Bitcoin will always have someone looking to buy.

The cryptomarket is still moving according to option 2 from here (https://t.me/decryptedge/230). Today the priority option is Bitcoin 32-35K, with a move to the upper border of the range. If it consolidates above 35K, the next target will be the resistance at 37800.



FYI: Bitcoin monthly candle closed at $33,649 this means BTC bullish cycle is over and we can see one leg up to 37/39K to liquidation short positions then dump to 20K 17K/11K /7K probably.

If you joined the cryptomarket recently, perhaps most of these terms you do not know anything about, so before starting to put any money. From #Decryptedge we would like to inform you that you have joined a very volatile market and in bad time (FOMO time is not the perfect time for you)

So we advise you to do your own research about the markets. Our #Decyptedge resources like the Crypto Masterclass, Bitcoin1010 will help you gain confidence. The market is fraught with risks and loss, not profit only, and this may not be suitable for everyone. Have a great week ahead.

#Bitcoin has continued to grow, it managed to gain a foothold above 35K, local highs were reached above 36380.
At the time of writing this review, Bitcoin is exchanging for $36050 and at the moment it is already 36800. Total Crypto Market capitalization is at $1.078 billion and BTC dominance index of 62.2%.

The American market rose yesterday, stock indices added from 1.57% (Dow Jones) to 1.39% (Nasdaq). SPX rose 1.39% to close at 3826.31. Oil is above 57, gold dipped slightly, the volatility index dropped significantly, which indicates an increase in risk appetite. #Amazon's report came out much better than expected. Google also reported well. Futures on the S&P 500 are now in positive territory, and Asian indices are also showing growth. The story of "Reddit vs. Wall Street" that was mentioned here (https://t.me/decryptedge/265) continues. It has now moved into the market plane. Short-term funds are squeezing sales, WSB keeps the formation with varying success.

True, a weak link has appeared in the ranks of the WSB. Dave Portnoy sold shares at a loss of 700K. WSB suspects him of working on Wall Street, but I don't think so. He's just a deer. Remember the story of how he came all out saying he entered the crypto market? He bought Bitcoin at 12400, then the price dropped to 11500, he sold in the red and said that he was disappointed in the crypto market. This was back in August, now Bitcoin is 3 times more. I am for WSB. No matter how this story ends, they powerfully declared themselves, and will declare more than once. What consequences this story will have for the markets? I can write on this later in the day.

On the crypto market, Bitcoin has left the 32-35K range and is now trading above 36500. The next target is resistance at 37800 (there is a whole area of ​​resistance from 37300 to 37800).

Perhaps the first attempt will fail and the process will take several days. Pinning above 37800 will attempt to update ATH. In case of a rebound from this resistance area, we remain in the 35K-37K range. Growth may be hampered by a high dollar index, which is at its highest values ​​since the beginning of the year. The situation will change with the appearance of news on the aid package in the United States.

The market is still working out option 2 (https://t.me/decryptedge/230), which was indicated as a priority.

Today, the priority option is Bitcoin in the 35000-37800 range, with an attempt to pass the 37300-37800 resistance area, the further depends on the success of this attempt.

Altcoins are growing, primarily Litecoin and Etherum. XRP is in suspended animation after the pump on Monday, the movement will be after the appearance of news on the court and lawsuit.
With fear and greed there are two simple assumptions: Extreme fear can be a sign that investors are too worried. That could be a buying opportunity. When Investors are getting too greedy, that means the market is due for a correction. Take your pick.

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 🙏. #Decryptedge.

#Bitcoin continued to rise, reaching highs at $38388. From this level it corrected to 37600-37700, where it is at the time of writing this review. Total CryptoMarket capitalization is $1.141 billion and BTC dominance index of 61.7%.

Stock markets were up slightly yesterday. American indices added from 0.1 to 0.12%, S&P 500 closed at 3830.17 Oil continues to rise, Brent came close to 59. Gold slipped to 1823, the dollar index is holding above 91.2.

The volatility index is falling, there is little fear in the stock market now. The growth of the dollar index, which usually leads to a fall in markets, is not yet causing such an effect. Most likely because the reason for the growth of the dollar index now is not that investors are entering the dollar, but that central banks are buying up the dollars

On the crypto market, Bitcoin reached local highs above 38388, after which it returned below 37800. For the second time in the last week, an attempt to take this level ends with a false breakout and a return to the previous trading range.
Option 2, which we spoke about on January 18, works out in its pure form. https://t.me/decryptedge/230

To some interesting news, #Visa a one-time enemy of the bitcoin and cryptocurrency community, is fast becoming one of bitcoin's biggest #cheerleaders. After partnering with 35 various bitcoin and cryptocurrency platforms in recent years, the credit card company has announced it plans to help banks roll out bitcoin and cryptocurrency buying and trading services with a Visa crypto software program, set to launch later this year. "We see crypto assets as more like digital gold," Visa’s head of crypto, Cuy Sheffield, said ahead of the announcement, speaking over the phone." Source | Forbes.

With such news in the background, there will still be attempts to take 37800 and gain a foothold higher. In case of success and fixing Bitcoin above 37800, the next goal is to move above 40K and update ATH. But I think that a return to the trading range is more likely today.

Altcoins are growing, Etherum has renewed its highs again and reached values ​​above 1700. The Dominance Index is below 62. There is talk that the introduction of Ethereum futures on February 8 may significantly collapse it, like Bitcoin in 2017. From where we sit probability it may not.

Then the market situation was different - the strongest recoilless growth on HYPE, a lot of deers in the market (remember the quality of the audience (https://t.me/decryptedge/140) The topic of CME futures is being dispersed, while the crowd is expecting even greater growth from this event .. then what always happens in such cases.

Etherum will rise and fall along with the market; futures will not have any special influence on it. I talked about it here… due to bad network in Kampala I was not able to share(https://www.facebook.com/decryptedgeKe/posts/774319433499387)

The priority option for today is Bitcoin in the range of 37800-35500.
Alternative - fixing above 37800. In case of working out the alternative, Bitcoin's targets lie above 40K.

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 🙏. #Decryptedge.

#Bitcoin tried several times to gain a foothold above 37800 during the day, but this did not lead to success, the price was pushed back to 36500-36600, where it found support and moved back to growth. Bitcoin is currently trading at around 37350. Total Crypto Market capitalization of $1.137 billion and a BTC dominance index of 61.0%.

American indices rose from 1.08% to 1.23% yesterday. The S&P 500 hit new highs and closed at 3871. Gold dipped below 1800, oil is again approaching 60. The volatility index continues to fall, which indicates the willingness of investors to take risks, and the dollar index is growing, because currency wars begin..

The story of the confrontation between reddit WSB traders and hedge funds does not seem to end in favor of WSB. #GameStop shares, which were dispersed to 467 a week ago, are now at 53. As recently as last week, the "wolves of Wall Street" called for the help of regulators, brokers turned off the ability to buy shares and even forcibly closed positions, and Google removed batches of negative reviews about Robinhood. Having repelled the first onslaught with the help of such methods far from the market, the funds, using an unlimited financial resource, so far pressed down the WSB traders.

Take home point is playing with those who can rewrite the rules in their favor on the fly does not make sense.

The priority version of yesterday's forecast worked, Bitcoin 37800 did not take and remained in the same trading range. Several attempts to gain a foothold above 37800 were unsuccessful. But there was no strong rebound, purchases began from 36500-36600.

Today there is an expiration of 1 billion options. I think that until the end of the expiration, Bitcoin will remain in the range of 35500-37800. If today Bitcoin closes above 36500, then the weekend is likely to continue the growth of altcoins and new highs in market capitalization.

In the more medium term, the market continues to work out option 2 from here (https://t.me/decryptedge/230). The situation is increasingly reminiscent of June-July 2020, when Bitcoin was between 9000 and 10500 for almost 2 months. Now everything goes a few floors higher, but the result will be the same.

PayPal, which has actively entered the cryptocurrency topic, same as the CEO of MicroStrategy (the one that bought Bitcoin for more than 1 billion, and began to do so back in August-September 2020), held a webinar in which 1,400 companies took part. We talked about #Visa yesterday(https://t.me/decryptedge/275) . How many of them(corporates/institutions) do you think will follow the example of MicroStrategy, which out of the blue has increased its capital several times in six months? #PayPal's crypto ambitions set off with a new dedicated business unit according to CEO Daniel Schulman, who spoke during PayPal's earnings call on Wednesday. As he remarked: "We all know the current financial system is antiquated, and we can envision a future where transactions are completed in seconds, not days; a future where transactions should be less expensive to complete; and a future that enables all people to be part of the digital economy, not just the affluent. We are significantly investing in our new crypto, blockchain, and digital currencies business unit in order to help shape this more inclusive future." A source with knowledge of the plans described the business unit plan as PayPal "going all in" on such services. Source | https://www.theblockcrypto.com/

Interestingly: investment director of Guggenheim Partners (USA), clearly showed an example of market manipulation. On January 21, he announced that we will see Bitcoin at the highs of 2021, then it will fall to 20K. On January 28, he said that the 30K support level is not stable and Bitcoin may go lower. On February 2, it became known about the entry into force of Guggenheim's application to the SEC for the purchase of Bitcoin in its Macro Opportunities Fund. The next forecast from the same investment director Scott Minerd is that #Bitcoin will grow to 600,000.

Conclusion - it doesn't matter what a person says, it is important why he does it.

Wishing you a great day and weekend ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge

#Bitcoin during the day was able to gain a foothold above 37800 and continue the upward movement. It briefly reached 39800 and fell back to 39150-39200 before a bounce back to above $40,000. With an all time high(ATH) of $40,817.01. Total Crypto Market capitalization is $1,239 billion and BTC dominance index of 60.6%.

American indices rose again yesterday. The Dow Jones added 0.3%, the Nasdaq rose 0.57%, the S&P 500 closed at 3886, gaining 0.39%, and during the trading session reached 3894. Gold and silver were up, oil is still slightly below 60.

The main positive is that the US Senate approved a resolution that will allow the adoption of a 1.9 trillion aid package without the participation of Republicans.
The indices are at their highs, the S&P 500 remained one step to 3900, and then 4000 is not far off.

Stock markets have been rising for a week now. How long this will continue and how it may end?

On the crypto market, Bitcoin was able to gain a foothold above 37800 and approached the upper border of a large range between 30K and 40K, which was mentioned here (https://t.me/decryptedge/230 priority option 2). The price has been holding above 37800 for more than 6 hours, and for the last 8 hours it has been holding above 38800, market capitalization has renewed highs and taken out of 40K. Trying to update ATH in the thin weekend market.

The priority option for the weekend is Bitcoin attempting to update the ATH, the growth of altcoins and new highs in market capitalization are possible.

Tomorrow I will write about market cycles; to one degree or another, the topic works in all markets.

#Coinbase is doing an IPO. In this regard, there is an opinion that regulation will be tightened on it and some coins will be delisted, because the exchange will be forced to listen to the wishes and recommendations of the SEC. I think that in this case, the exchange will face an outflow of clients, who will be gladly picked up by other TOP exchanges. Therefore, #Coinbase will balance the desire for an IPO and the long-term interests of the business.

In Nigeria, the central bank has banned banks from opening accounts for cryptocurrency companies. Although it is a fairly large country with a population larger than Russia, and according to Paxful, Nigeria has the second largest Bitcoin trade in the world, the market did not react to the situation. Apparently, because the ban on banks from working with crypto companies will not particularly affect interest in Bitcoin or volumes. #Binance temporarily suspended deposits in Nigerian naira – the country’s local fiat currency – in response to a Friday letter from Nigeria’s central bank (CBN) instructing local banks to identify and close all accounts tied to cryptocurrency platforms or operations. The CBN letter told local banking institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited under a 2017 circular stating bitcoin (BTC) and other cryptocurrencies are not legal tender in the country. While the move might impact fiat on- and off-ramps, most of the nation’s crypto trading occurs on peer-to-peer platforms and remains unaffected, according to sources in Nigeria. Source | Coindesk

Wishing you a great weekend ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge

#Bitcoin spent the weekend in a range between 40900 and 37900. Last night the corrections to $37,350 were quickly brought back, its trading at the 38300-38400.price range. Total crypto market capitalization is at 1172 billion with a BTC dominance index of 61.2%.

Stock markets opened higher, futures for the S&P 500 reached 3900, oil came close to 60, and Asian indices are also growing.

It was announced yesterday that the aid package for 1.9 trillion. will be adopted by the end of February. Biden stated about the need for a quick solution to the issue, Pelosi designated the deadline until the end of February. Markets reacted like Pavlov's dog to a light bulb and renewed highs again.

Yellen is already talking about inflationary risks. What will happen next and how it will affect everyone? I promise to write about this later today.

The priority version of our review has been worked out on the crypto market (https://t.me/decryptedge/281). Bitcoin remained in the range indicated there. An attempt to go above 40K ended with a rebound from 40900. The correction was stopped at 37350, after which the was held for more than 12 hours in a range with support at 37900 and resistance at 38900-39000.

Total Crypto Market capitalization renewed highs above 1221 billion, but as of writing this review it now has decreased to 1166 billion. The priority option for today is Bitcoin in the 37900-40900 range. Fixing above 40K with a successful retest, ATH update is possible.

An alternative option is to go below 37800 and form a trading range one floor below. If the priority option is worked out, capitalization maxima are also likely.

Interestingly, the well-known investment fund Miller Opportunity Trust, which manages assets of 2.25 billion, has notified the SEC of plans to invest 15% of its assets in Bitcoin through Grayscale Investments. Until this moment, the largest share of the fund in one asset is 6.1% in UBER, and the Bitcoin fund is going to go to 15%. Bill Miller has been investing personal capital in Bitcoin since 2014.
The man is 67 years old and he could well have been in captivity of a conservative approach, talking about "unsecured Bitcoin, which will soon be banned by regulators." Seems he acquired enough brains to figure out the situation back in 2014 and buy Bitcoin at a price of $ 300 to $ 500.

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 🙏. #Decryptedge.