I will not even discuss now which option is more likely for the crypto, since this is quite obvious. Whether we go to 50K directly from here, or once again descend to 30K, nothing really changes.

The question is what to do to be prepared for both options.

#Decrytedge

In the last 24hrs, #Bitcoin fixed above $47500 and several times renewed its highs, reaching $49278. For the last 4 hours, #Bitcoin has been trading in a narrow range of 47800-48560. And at the time of this writing, the price of Bitcoin was 48015 and it just dropped to 47100. Total Crypto Market capitalization is at $1.424 billion with BTC dominance index of 61.7%.

The stock market continues to be flat. The Dow Jones shed 0.02%, the Nasdaq rose 0.38%, the S&P 500 added 0.17% to close at 3916.38. The dollar index is above 90.5, oil and gold declined slightly. There was weak data on the US labor market, there is no news on the aid package yet, therefore, if there is no positive about the timing of the distribution of money, the S&P 500 may correct below 3900 amid profit taking.

The priority option worked on the crypto market - ATH was updated again, now it is at 49278. The market capitalization high was also updated, above 1,462 billion. It is interesting that a little more than 3 months ago we talked about the importance of taking out the capitalization level of $400 billion. https://t.me/decryptedge/35 Most probably the capitalization level of 1.5 trillion. will be tested not until Monday. Or maybe taken even out. The priority option for Bitcoin is the 50K test, updating its highs. Further depends on the reaction to the level. In case the attempt is unsuccessful, a return to the trading range 46800-44500 is possible. Then we will take 50K next week.

Any scenario where Bitcoin stays above 44500-45000 will result in an altcoin season over the weekend. The main thing is not to forget about market cycles and not get carried away with Shitcoins. In case of a leak, pick up and load up more Bitcoin and Ether.
Why - read here: https://t.me/decryptedge/291

Interestingly, there is no usual Chinese New Year effect this year. Over the past few years, the price of Bitcoin has been declining these days and trading volumes on exchanges have been falling. This was due to the fact that Chinese traders and miners are withdrawing funds ahead of the holiday week. But there is no such effect this year - Bitcoin is celebrating Chinese New Year at new highs. I think there are two reasons. First, the decline in the market share of Chinese traders and miners. And not because there are fewer of them, but due to an increase in volumes from the rest of the world. Second, due to travel restrictions, the Chinese withdraw less money. If earlier they flew in mass to Paris, Milan, Dubai at this time, now, due to coronavirus, many will remain at home.

Interesting note: SEC's Esther Pierce says the market is ready for a Bitcoin ETF. The regulator playfully known as "crypto mom" said people are already eager to trade a bitcoin ETP, "and so if we don’t give them the natural way, which I think would be an ETP, they are going to look for other (less optimal) ways to do it." Peirce also pushed back in her interview against an emerging government narrative that cryptocurrency is a dangerous rail for terrorist financing. She cast doubt on the size of the alleged problem and insisted there was no way to ban bitcoin outright. Pierce said she looks forward to working with SEC chairman nominee Gary Gensler once the former MIT digital currency professor is confirmed by the Senate. Source: Coindesk.

In definition Exchange for Physical (EFP) transactions are privately negotiated trades between two counterparties allowing them to simultaneously transfer a futures position for an equivalent spot market position or vice versa. On the other hand an ETF, or exchange traded fund which is more popular is an investment vehicle that tracks the value of its underlying asset—such as Bitcoin. Shares in a Bitcoin ETF would be tradable on a traditional stock exchange. Since 2017, the US Securities and Exchange Commission (SEC) has repeatedly rejected proposals for Bitcoin ETFs. Companies have been trying to push it since 2013. We recently said that we expect success in this direction in 2021:https://t.me/decryptedge/239.

For now we await for the approval of the head of the SEC Gary Gensler.

All these financial instruments are taking you back to the same system that bitcoin broke away from. Bitcoin thrives because it didn’t closely interact with traditional financial institutions in its early years and thus cemented its decentralization. The relationship between bitcoin and traditional financial institutions is changing in a big way. It’s worth taking a step back and assessing some pros and cons, as well as strategize the ideal outcome for bitcoin so that the 21 million supply maximum isn’t diluted by a fractionally reserved overabundance of claims masquerading as real bitcoin. I know there are many owners of bitcoin that will never relinquish the responsibility of private key management to a trusted third party; I am one of them, and I encourage everybody to practice private key management. Unless you do so, you don’t own real bitcoin. But institutions will not choose this route. They will use custodians, EFP’s, ETFs, and insurance. These solutions are layers on top of bitcoin that carry significant counterparty risk. Bitcoin’s integration into the traditional financial system of counterparty risk is taking shape as we speak.

Wishing you a great day 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. Images courtesy. #Decryptedge

Taking this opportunity, I would like to remind you of our analysis for 2021 (https://t.me/decryptedge/168). Everything is correct there, only a typo about capitalization. I wanted to write - 1.5-1.52 billion, which is logical when Bitcoin is above 50K, as indicated in the plans for the year. Let's remind ourselves that at the time of writing the review, Bitcoin had not yet taken even 30K, and the market capitalization was below 800 billion.

It is possible that the market capitalization level of 1.5 trillion will be attained in the next day or two, and some corrections will follow. If we do not hold 47500 and return to the previous trading range, then 1.5 trillion can be taken over the weekend if Bitcoin remains above 45K.

As for altcoins, their fate depends on how this market cycle ends. How it works, read here (https://t.me/decryptedge/291). A favorable option for altcoins is to return Bitcoin to the 47500-44500 range and stabilize it there over the weekend. A better scenario is a consolidation above 50K and stabilization at new levels. From here on everyone who considered Bitcoin expensive at 20-30K, under the influence of FOMO, will pounce on the altcoins. Due to their small capitalization, they will shoot well, further increasing the excitement in the market.

The most negative option for altcoins is the Bitcoin drain below 43500 with anchoring. In this case, they will face a significant drop. The probable priority option is a 50K test as mentioned this morning, another ATH update. Alternative - return to the range 47500-44500, with a possible test of 43000-42800. It becomes more likely if the 50K test fails, however in this case, Bitcoin above 50K is a matter of a short time.

Current news. Bank of New York has started providing crypto storage and transfer services for institutions. Bank of New York Mellon, the nation’s oldest bank, said Thursday that it will begin financing bitcoin and other digital currencies.

AMAZON is developing a service that will convert cash into digital currency. It's not clear yet or fully understood, but it is likely that they are preparing to announce integration with crypto.

Mastercard also announces work with crypto in 2021.

UBER CEO said they will accept Bitcoin "if need be."

There are persistent rumors that Apple is also going to enter the crypto market, which is allegedly interested in the cryptocurrency exchange business. How exactly we shall see.
Enterprise software provider R3 has launched a new computing platform called Conclave to bring privacy to sensitive business data, aimed at financial institutions. “[Conclave] paves the way for a new generation of trusted services that can detect fraud, reduce cost, build high-value multi-party analytics and more – where the owners of the data control how it is processed,” R3 said. Source | Coindesk.

Most Business and the world as a whole is designed in such a way that companies/people that ignore global trends are left on the sidelines. Crypto is now like the Internet in the early 2000s. Back then only a few companies had websites, now it is difficult to imagine even a medium or small company that is not represented on the Internet. Not to mention the big ones. Therefore, working with crypto, tech giants such as Amazon or Apple is a matter of a short time.
Lastly remember our post https://t.me/decryptedge/297 on why it’s worth taking a step back and assessing some pros and cons.

Withdrawal of Bitcoin from crypto-exchanges for storage has reached its maximum.

Do you understand what this means?

#Decryptedge.

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#Bitcoin was in the range of 46900-47950 during the last 24 hours. Attempted corrections were quickly redeemed; it was also not possible to gain a foothold above 48K. At the time of this writing, Bitcoin is trading at 47800-47900.

Total Crypto Market capitalization is at $1.448 billion, BTC dominance index at 59.9%.

Equity markets ended the week with slight gains. American indices rose from 0.09% to 0.5%. S&P 500 added 0.47% to close at 3934.83. Oil has renewed its annual highs, reaching January 2020 levels. At the highs and copper, which is a leading indicator of economic recovery. The dollar index is below 90.5, and the volatility index fell below 20, which indicates that there is no fear in the market.

On the crypto market, yesterday's forecast worked out partially.
Attempts to take 50K Bitcoin did not happen; ATH remains at 49278 remains. Nonetheless, Bitcoin is confidently holding above 47K, the corrections are being bought out, and a 50K test may occur on a thin weekend market. Altcoins live up to expectations, showing good growth. Market capitalization renewed its highs again, reaching values ​​above $1,489 billion, the dominance index fell below 60%. Ethererum is updating its highs again, Litecoin is already above 200 (has not been since 2018), Chainlink is already above 31.

The situation is similar to the end of the market cycle and will end either with a jerk of Bitcoin above 50K with consolidation, or a correction of bitcoin to 43000-42800, with a possible correction to 37800-38000, and the capture of 50K will take place after that.

The outlook of his weekend is we may test both 50K and the capitalization level of 1.5 trillion. Further depends on the success of this test.

Interestingly, the U.S. city of Miami is going full bitcoin. The city commissioners have voted to support the mayor’s resolution to allow payments in bitcoin for salaries, taxes, and fees. The city also supports efforts to make bitcoin an acceptable currency for potentially investing in the state treasury. It’s also a request of the state legislature that the city of Miami supports efforts to make bitcoin an acceptable currency for us to potentially invest in, in the future.

On that high note: have a blessed weekend ahead and remember must do your own research; this is not traditional investment of financial advice. #decryptedge

#Bitcoin spent the weekend in the 46600-49500 range. A new ATH was set above 49800. A few hours ago there was an attempt to go below 46K, which was quickly redeemed, the price has since returned to 47100-47200, where it is currently being traded. Total Crypto Market capitalization is $1.421 billion, with BTC dominance index of 61.7%.

Stock markets opened higher. Oil is above 63.5, the dollar index is down to 90.3, S&P 500 futures are rising, as are Asian indices. Trump will not be impeached, the Senate has found him not guilty. The G7 countries unanimously speak of the need to continue stimulating the economy. This means that the generation of fiat will continue.

On the crypto market, the Saturday forecast was worked out about Bitcoin's attempt to take 50K, and about a test of the capitalization level of 1.5 trillion. On the thin weekend market up to 50K, #Bitcoin missed it by 150 points, and the market capitalization renewed highs above $1.510 billion.

Bitcoin price fell below 46K. But the correction was immediately redeemed, it returned above 46500, and at the time of writing the Review it is trading at 46500-46600.

If Bitcoin holds above 46500-46600, I expect 50K to be retried. If it does not hold, test the support at 44500, further depending on the reaction to the level.

Altcoins, as always, fell more than the main cryptocurrency, and this is especially noticeable after the rapid growth over the weekend. Drawdown for TOP is on average 10-12%, for some assets it is much higher. As a rule, the most falling assets are those that have grown the most. If Bitcoin keeps support at 46500 (which is a priority option), they will recover, and if it fixes above 50K, they will go to new highs. By the way, a week is left before the XRP situation is resolved.

Morgan Stanley Investment, which manages $ 150 billion in assets, according to Bloomberg, is considering investing in Bitcoin. They previously acquired an 11% stake in MicroStrategy, which bought more than $ 1 billion worth of Bitcoin, starting in August 2020.

Deutsche Bank Launches Custody Services for Institutions Wishing to Enter Crypto. Renowned economist Nassim Taleb announced the sale of his Bitcoins. The reason is "it is too volatile to value goods in it", Bitcoin "did not take place as a means of payment." A strange statement. The main advantage of Bitcoin is deflationary. They buy it to preserve and increase their assets, in an environment where fiat is generated at an accelerated pace.
WHY use it as a means of payment? For this there are stablecoins, and fiat has not been canceled yet. I think this is the case, it is more important not what a person says, but why he says it. Especially if you remember that the author of "Black Swan" was a supporter of Bitcoin a year ago.

Wishing you a blessed week ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. @Decryptedge

In the last 24hrs Bitcoin has been in the range of 46500-48800. Support at 46600-46500 confirmed, from this level bitcoin moved to growth, but two attempts to pass 48800 have not yet led to success, and now Bitcoin is trading around 48500 UPD.
While writing this review, Bitcoin managed to break through 48800. Now the price is about 49500. Total Crypto Market capitalization is at $1.508 billion and a dominance index of 60.8%.

Stock markets opened higher. Oil is still above 63, futures for the S&P 500 rose more than 0.6%, and Asian indices are showing good growth. Markets are still bullish on the bailout package, which the chances of a swift acceptance have improved significantly since Trump's impeachment was lifted. The dollar index continues to decline, and is already below 90.3.

On the crypto market, after confirming support at 46500-46600, Bitcoin started to grow, took 48800 on the third attempt, and will take 50K right now. If the 50K is broken, we will go higher on the stops of short lovers, after which the market will determine new levels.

In case we don't take 50K, or we take it, but don't fix ourselves, then there are two options. We stay above 48800, there will be another attempt. If we go below 48800, we return to the previous trading range of 46600-48800 for refueling.

On the option of fixing above 50K, altcoins could be interesting for purchases, since in this case, their growth will continue, and the market capitalization will continue to renew its highs. If Bitcoin returns to the previous range, altcoins will lose positions, waiting for the outcome of the situation around the important psychological level of 50K.

Interesting: large Mexican companies want to invest in Bitcoin, said the managing partner of the PWC consulting company. The fact that one of the richest people in Mexico, Ricardo Salinas Pliego, invested 10% of his portfolio in Bitcoin in November 2020, we have previously reported https://t.me/decryptedge/76 These were the conclusions of a report from El Economista, which quoted Mauricio Hurtado, managing partner of PwC Mexico as stating that Mexican firms were now keen to climb aboard the bitcoin bandwagon. the PwC executive added that “a significant number of players” see “these currencies” as a “reliable transaction mechanism.”
He said, “Therefore, businesses are adjusting to market realities in order to prevail and gain an advantage over their competitors. We are seeing an important change in this regard.” Source _ https://cryptonews.com/

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.

MicroStrategy to Add #Bitcoin, Widening Premium of Shares: Thoughts on the market on 17.02.2021:

Within the last 24hrs, Bitcoin updated ATH, reaching $50,689. After that, it was followed by a correction to 48000-47800, and another attempt to take 50K. At the time of writing, Bitcoin is trading at 50010. Total Crypto Market capitalization of $1.503 billion, BTC dominance index at 62.0%.

American markets opened yesterday with growth, but then profit-taking began. As a result, the Dow Jones rose 0.2%, the NASDAQ lost 0.34%, and the S&P 500 fell 0.06% to close at 3932.59 The dollar index rose, traded between 90.6 and 90.7, and the volatility index returned above 20. Gold fell to lows in 2021 and is now trading at 1793. Asian indices are slightly declining, S&P 500 futures too.

Bitcoin went above 50K twice, so far without holding above this level. At the same time, local support was formed at 48300. While Bitcoin is above this level, further attempts to consolidate above 50K are relevant. Moving lower with consolidation will most likely lead to a need for a move towards 46,500 to refuel.

As always, at such tipping price points for Bitcoin it negatively affects altcoins. The dominance index nonetheless rose. Ethereum went below 1800, the rest of the altcoins fell even more.

This is understandable - in such situations, money starts to leave the market. Some buy Bitcoin with the expectation of a breakthrough and consolidation above 50K, others go to fiat in anticipation of the correction in case the attempt to take 50K is unsuccessful. Rad on the market cycles write up we did here: https://t.me/decryptedge/291

In the case of Bitcoin fixing above 50K, the altcoins have good prospects after the stabilization of the main cryptocurrency - it is obvious that in this case they will update their highs.

We consider the option with Bitcoin in the range 48300-50200 as a priority, continuing attempts to take 50K and then fixing above 50K. The alternative option, with a correction to 46500 or even 43000-42800, does not change anything and only postpones the capture of 50K for 4-7 days.

Interestingly, MicroStrategy, which has already acquired Bitcoin for more than 1 billion, placed bonds for 600 million, because it wants to buy more (https://www.microstrategy.com/en/investor-relations/press/microstrategy-announces-proposed-private-offering-of-600m-of-convertible-senior-notes ) . They do not consider Bitcoin almost 50K expensive, because they understand what will happen next. They started buying Bitcoin back in August 2020. Same year in the month March 2020 hearing #BTC price projections like $50,000 sounded almost like a joke. Now almost one year has passed, we're here, talking about a $100,000 target and celebrating 50k.

Wishing you a great day 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 has updated new ATH for several times during the day, the current ATH is now at 52618 in (#Binance). After that #Bitcoin within the price range of 52070-52470 for more than 7 hours now. At the time of this writing, the price of Bitcoin is 52395. Total Crypto Market capitalization of $1.587 billion and a BTC dominance index of 61.3%.

Stock markets continued to be flat yesterday. The Dow Jones is up 0.34%, the Nasdaq is down 0.65%, the S&P 500 is down 0.03% to close at 3931.33. Oil continues to renew its highs, already above 65. Gold is declining, the dollar index is growing, now around 91. Futures on the S&P 500 are now slightly in the red.

Tech giants plummet amid information about congressional consultation on leveraging Big Tech. It is interesting that social networks and tech giants did everything to win Biden and demonstrated their loyalty in every possible way - they blocked the negativity about Biden, blocked Trump's supporters, even deleting Trump's own account (who was the current president at that time), AMAZON generally removed the Parler social network from its servers. where Trump's supporters were hosted. This is not surprising - the service already provided is worth nothing and no one can guarantee that next time the possibilities of social networks will not be used against the current government.

According to some news, a government-owned entity in Dubai has started accepting bitcoin, ether and tether as payment for its services, according to local media reports. Kiklabb is a free trade zone that helps companies set up shop in Dubai, a wealthy city and emirate in the United Arab Emirates (UAE). Kiklabb issues trade and other licenses as well as processes visas. The entity also leases office space to its customers on-board the Queen Elizabeth 2 cruise liner anchored at Port Rashid in Dubai. Payments for these and other services can now be made in bitcoin (BTC), the Gulf News reported on Feb. 16. Kiklabb worked with unnamed “international partners for payment processing of cryptocurrency transactions.” The CEO believes other government departments will follow in his footsteps. “We’re the first government owned licensing entity in the UAE to accept cryptocurrency payments – and certainly not the last. With the technology rapidly gaining traction across the Middle East, I’m eager to see how it changes the way we do business in the near future,” Ulhaq stated. Source : News.bitcoin.com

Bitcoin not only held above 50K, but also continued to grow. For the last 7 hours it's confidently holding above 52K, clearly intending to move on. Market capitalization has renewed its highs, Ethereum has a new ATH above 1924, all TOP altcoins follow #Bitcoin as it was said yesterday.

For today, the priority option is Bitcoin in the range of 50800-52500, with a possible ATH update. Alternatively, going below 50800 is possible in the event of a significant increase in the dollar index and a fall in stock indices.

If Bitcoin in the event of a fall in funds remains in place for at least a few days, we will see real action.

This option is quite possible - after all, there is no economic justification for the correlation of Bitcoin with stock indices, moreover, back in 2019 there was often an inverse correlation (Bitcoin grew when the indices fell).

Wishing you a blessed day ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge

Bill Gates Says He’s ‘Neutral’ on Bitcoin. Thoughts on the market on 19.02.2021

#Bitcoin was in the range of 52300-51000 during the last 24hrs; an hour ago there was a correction to 50700, which was quickly redeemed, and at the time of writing this review, Bitcoin is trading around $51,300. Total Crypto Market capitalization is at $1.570 billion and BTC dominance index of 60.7%.

Stock markets were down yesterday. Dow Jones Shed 0.38%, Nasdaq Down 0.72%, S&P 500 Down 0.44% To Close At 1913.97. Oil dropped more than 1.75%, returning to levels where it was a week ago. Gold continues to fall, while the dollar index and volatility index are growing. Now Asian indices are looking down, S&P 500 futures are doing the same and already below 3900.

Bitcoin has since remained in the range that we outlined in yesterday's review. So far there is a test of the lower border of the range, which happened an hour ago. It ended with the emergence of an active buyer from 50700, who bought the correction and returned the price to 51300.

The dominance index dropped to 60.6%, which indicates that the end of the market cycle for altcoins is approaching. How it works, read here (https://t.me/decryptedge/291).
Consider the Bitcoin movement option in the range of 50500-52500 as a priority, with a possible exit upward and updating the highs. If on the weekend we leave with Bitcoin above 51K, we expect a good growth in the TOP Altcoins, if above 52K - another altseason, with almost everything growing and updating ATH in market capitalization. With a high degree of probability, will be the end of the market cycle.

An alternative option - fixing Bitcoin below 50500 - is possible in the event of a significant negative in the stock markets. It is less likely than option 1. In this case, the further picture depends on the reaction of Bitcoin to the psychological level of 50K.

BNB moved up to the 3rd place in terms of capitalization, continuing to renew ATH. XRP fell back to 6th place in terms of capitalization, before being hit by SEC it was in third place. Soon the denouement on 22.02 when the trial begins. Any verdict that confirms that XRP is not a security (and objectively it is) will be positive for the asset, and against the background of the general market picture, there will be every chance of going to 1 and higher.

If you decide to make a sacrifice out of XRP in order to reduce the attractiveness of crypto market in the eyes of the crowd, as I said here https://t.me/decryptedge/151 , a drop to 0.3 and even 0.2 is possible immediately, with a subsequent rise along with the market. How will Ripple react in jurisdiction with this outcome? What is clear is it will continue to work in Japan and other places, although in this case it is unlikely to return to the TOP-5. There are factors that make it possible to consider the outcome with a penalty and continuation of work as a priority option, so if you are hodling some.. Keep the asset and wait for the outcome.

To some news, Bill Gates who had previously criticized cryptocurrencies and said he'd short bitcoin "if there was an easy way to do it." Bill Gates has said he has a “neutral view” on bitcoin, but does recognize the importance of bringing down the costs of moving money. In an interview with CNBC Thursday, Gates said, "I don't own bitcoin. I'm not short bitcoin." The Microsoft co-founder said that digitizing money and bringing down transaction costs is "something the Gates Foundation does in developing countries." Gates further pointed to the volatility of bitcoin driven by "mania" and the difficulty of predicting how prices will progress. He previously said in May 2018 that he would short bitcoin "if there was an easy way to do it" and that he had been given a bitcoin as a birthday present but sold it shortly after. Source Coindesk.

With that news from Gates, don't remain neutral, get an understanding on the fundamentals of this Crypto market. Wishing you a good day ahead and remember this is not financial advice or investment recommendation. Must do your own research. #decryptedge