Thoughts on the market for 04.11.2020: The $955 Million in #Bitcoin Hackers Have Been After Just Moved. #Blockchain
Bitcoin has been trading within the range of 13200-13800 and moving to its upper border. Last night, the price went up from this range, reaching local highs above 14000, after which it corrected to 13800, and is currently trading slightly above this level. Total Crypto-Market capitalization is at $397 billion with a BTC dominance index of 64.3%.
American indices moved from 1.67 to 1.93% yesterday. Obviously, in the hope of Trump's victory, which may well turn out to be justified - as long as the candidates go smoothly. Indiana and Kentucky are for Trump, Vermont and Virginia are for Biden. There was information that Trump is pulling ahead in Florida, where the Democrats won in 2016.
On the S&P 500 futures reached its highs, and the dollar index - lows, now the opposite is happening - the S&P 500 futures lost 0.5%, and the dollar index is rapidly moving to 94.5. Gold is losing yesterday's positions, again trading below 1900. All this at the time of writing the Review, the picture may change at any time.
UPD. The market reacted to news of Trump's success in Florida, with the S&P 500 up 1.85%.
I think that as the results for the states appear, the markets will decline from information in favor of Biden's victory and grow on news in favor of Trump. And if the markets survive the possible victory of Biden (in part, it has already been worked out by the fall of last week), then the difficulties with summing up the results may significantly collapse the markets.
Bitcoin, as per yesterday's review, remained in the trading range of 13200-13800, at night there was another exit above 14K, after which it returned to the range.
At the same time, altcoins continue to fall: with the growth of Bitcoin, liquidity from alts goes to Bitcoin, with a decrease in bitcoin, this liquidity does not return to altcoins.
Bitcoin reached 14K again, and then dropped by 200-300 points - the dominance index increased by another 0.3%.
In the event that before that Bitcoin goes below 13500, the alts will update the bottom, and if it is below 13000, they will begin to deepen into this bottom. But this option is not a priority.
Interestingly, 69,370 BTC was withdrawn from the Bitcoin wallet, which was sold on hacker forums for several years. There are several versions to whom these Bitcoins belonged, and they are all of a criminal nature. This is a successful hack, or the money was withdrawn by the owner of the funds, it is not yet known. The wallet, which goes by the easy-to-remember address of 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx, is—or, rather, was—the fourth-largest Bitcoin wallet in terms of holdings. The coins had been sitting in the wallet since April 2015, when the price of Bitcoin was in the mid-$200 range. Today, a single Bitcoin is worth around $13,800. Source | Decrypt.co
Bitcoin is clearly targeting 14K. If there is no strong negative, there will be at least one more attempt to gain a foothold above this level. In case of a negative external background, there will be a return to the range 13800-13200 and a movement to its lower border. It is also planned for the third attempt in the last 10 days to take 400 billion of capitalization. For success, it is necessary that, in addition to Bitcoin, something else grows most likely Etherum.
As always wishing you a great afternoon ahead. Remember to do your own research, this is not traditional investment advice. #decryptedge
Bitcoin has been trading within the range of 13200-13800 and moving to its upper border. Last night, the price went up from this range, reaching local highs above 14000, after which it corrected to 13800, and is currently trading slightly above this level. Total Crypto-Market capitalization is at $397 billion with a BTC dominance index of 64.3%.
American indices moved from 1.67 to 1.93% yesterday. Obviously, in the hope of Trump's victory, which may well turn out to be justified - as long as the candidates go smoothly. Indiana and Kentucky are for Trump, Vermont and Virginia are for Biden. There was information that Trump is pulling ahead in Florida, where the Democrats won in 2016.
On the S&P 500 futures reached its highs, and the dollar index - lows, now the opposite is happening - the S&P 500 futures lost 0.5%, and the dollar index is rapidly moving to 94.5. Gold is losing yesterday's positions, again trading below 1900. All this at the time of writing the Review, the picture may change at any time.
UPD. The market reacted to news of Trump's success in Florida, with the S&P 500 up 1.85%.
I think that as the results for the states appear, the markets will decline from information in favor of Biden's victory and grow on news in favor of Trump. And if the markets survive the possible victory of Biden (in part, it has already been worked out by the fall of last week), then the difficulties with summing up the results may significantly collapse the markets.
Bitcoin, as per yesterday's review, remained in the trading range of 13200-13800, at night there was another exit above 14K, after which it returned to the range.
At the same time, altcoins continue to fall: with the growth of Bitcoin, liquidity from alts goes to Bitcoin, with a decrease in bitcoin, this liquidity does not return to altcoins.
Bitcoin reached 14K again, and then dropped by 200-300 points - the dominance index increased by another 0.3%.
In the event that before that Bitcoin goes below 13500, the alts will update the bottom, and if it is below 13000, they will begin to deepen into this bottom. But this option is not a priority.
Interestingly, 69,370 BTC was withdrawn from the Bitcoin wallet, which was sold on hacker forums for several years. There are several versions to whom these Bitcoins belonged, and they are all of a criminal nature. This is a successful hack, or the money was withdrawn by the owner of the funds, it is not yet known. The wallet, which goes by the easy-to-remember address of 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx, is—or, rather, was—the fourth-largest Bitcoin wallet in terms of holdings. The coins had been sitting in the wallet since April 2015, when the price of Bitcoin was in the mid-$200 range. Today, a single Bitcoin is worth around $13,800. Source | Decrypt.co
Bitcoin is clearly targeting 14K. If there is no strong negative, there will be at least one more attempt to gain a foothold above this level. In case of a negative external background, there will be a return to the range 13800-13200 and a movement to its lower border. It is also planned for the third attempt in the last 10 days to take 400 billion of capitalization. For success, it is necessary that, in addition to Bitcoin, something else grows most likely Etherum.
As always wishing you a great afternoon ahead. Remember to do your own research, this is not traditional investment advice. #decryptedge
Thoughts on the market for 05.11.2020; The #Tiger21Club of #Multimillionaire Investors Are Election-Proofing Their #Assets #Bitcoin #cryptocurrency
#Bitcoin repeated attempts to take 14K within a day has been a success- for more than 14 hours bitcoin has been trading above this level. At the time of writing this review its trading above 14400. Total Crypto-Market capitalization is at $408 billion and #BTC dominance index of 64.3%.
Stock markets were up yesterday. American indices added from 1.63% (Dow Jones) to 3.77% (Nasdaq). The S&P 500 closed at 3443. Markets briefly rallied in the morning on news of a possible Trump victory that so far has changed. Then there was information that Biden was winning the disputed states, the markets nonetheless were positive about the information that the Senate remain Republican. This ensures Biden's deterrence from the implementation of his election ideas about increasing taxes and unbundling of corporations.
The main risk is protesting the election results, and there is every reason for this. For some reason, voting by mail gives votes only to Biden, and 300 thousand ballots are generally lost. The realization of such a scenario could collapse the markets. Because while the parties are trying to figure out which of them won, the aid package will not be accepted, and this is not only the main, but also the only idea that makes the markets grow now. Now the S&P 500 futures show a slight increase, the dollar index is below 93.4 and continues to decline, gold shows a slight increase, oil is declining.
Bitcoin in the first half of yesterday went to 13500, after which it moved to growth and took 14K. The plan I spoke about on October 24 came true. #Bitcoin reached 14360, but it is possible that today or tomorrow the highs will still be updated.
In terms of capitalization, we are trying to take 400 billion for the fourth time. We have spoken earlier about the importance of this level.
If there are no special surprises and Bitcoin remains above 14K in the next couple of days, the level will be taken completely and then we will see the long-awaited rise in altcoins. Etherum is now fixed above 400 and the TOP of altcoins begin to come to life, while not confidently and selectively.
There are now two main options for #altcoins.
Positive - Bitcoin stays above 14K until the weekend, Etherum goes to 450 and above, TOP alts moves to growth, followed by the second echelon. Capitalization reaches the range of 440-460 billion, then there may be a correction.
Negative option - Bitcoin within 1-2 days returns below 13800, to the previous trading range. Altcoins in this case will fall even more, and since they have practically not participated in the growth so far, and will fall faster than Bitcoin, they will simply find a new bottom. This option is possible on some significant external negative.
Interestingly, The Tiger 21 Club of Multi Millionaire Investors Are Election-Proofing Their Assets. Members of Tiger 21, a wealthy club with at least $ 100 million in assets, have invested in bitcoin, silver, and gold mining stocks as insurance against Joe Biden's victory in the US presidential election. #Bloomberg writes about it . “Amid near-zero rates in debt markets and uncertainty, many are increasing their share of gold and bitcoin,” said Avi Weintraub, president of real estate The Weintraub Companies and head of Tiger 21 in Miami. According to Weintraub, investors who ignored bitcoin eight months ago are now following with interest the publications in the media devoted to comparisons of gold and the first cryptocurrency. “We don't know where this topic is heading. It might be justified, it might be insanity, or something in between. So why not add a small fraction of [bitcoin] to your portfolio? It's kind of insurance, ”he explained. Back in mid-October we wrote that wealthy people are massively going to Bitcoin. So here is another confirmation. Source | Bloomberg.
#Bitcoin repeated attempts to take 14K within a day has been a success- for more than 14 hours bitcoin has been trading above this level. At the time of writing this review its trading above 14400. Total Crypto-Market capitalization is at $408 billion and #BTC dominance index of 64.3%.
Stock markets were up yesterday. American indices added from 1.63% (Dow Jones) to 3.77% (Nasdaq). The S&P 500 closed at 3443. Markets briefly rallied in the morning on news of a possible Trump victory that so far has changed. Then there was information that Biden was winning the disputed states, the markets nonetheless were positive about the information that the Senate remain Republican. This ensures Biden's deterrence from the implementation of his election ideas about increasing taxes and unbundling of corporations.
The main risk is protesting the election results, and there is every reason for this. For some reason, voting by mail gives votes only to Biden, and 300 thousand ballots are generally lost. The realization of such a scenario could collapse the markets. Because while the parties are trying to figure out which of them won, the aid package will not be accepted, and this is not only the main, but also the only idea that makes the markets grow now. Now the S&P 500 futures show a slight increase, the dollar index is below 93.4 and continues to decline, gold shows a slight increase, oil is declining.
Bitcoin in the first half of yesterday went to 13500, after which it moved to growth and took 14K. The plan I spoke about on October 24 came true. #Bitcoin reached 14360, but it is possible that today or tomorrow the highs will still be updated.
In terms of capitalization, we are trying to take 400 billion for the fourth time. We have spoken earlier about the importance of this level.
If there are no special surprises and Bitcoin remains above 14K in the next couple of days, the level will be taken completely and then we will see the long-awaited rise in altcoins. Etherum is now fixed above 400 and the TOP of altcoins begin to come to life, while not confidently and selectively.
There are now two main options for #altcoins.
Positive - Bitcoin stays above 14K until the weekend, Etherum goes to 450 and above, TOP alts moves to growth, followed by the second echelon. Capitalization reaches the range of 440-460 billion, then there may be a correction.
Negative option - Bitcoin within 1-2 days returns below 13800, to the previous trading range. Altcoins in this case will fall even more, and since they have practically not participated in the growth so far, and will fall faster than Bitcoin, they will simply find a new bottom. This option is possible on some significant external negative.
Interestingly, The Tiger 21 Club of Multi Millionaire Investors Are Election-Proofing Their Assets. Members of Tiger 21, a wealthy club with at least $ 100 million in assets, have invested in bitcoin, silver, and gold mining stocks as insurance against Joe Biden's victory in the US presidential election. #Bloomberg writes about it . “Amid near-zero rates in debt markets and uncertainty, many are increasing their share of gold and bitcoin,” said Avi Weintraub, president of real estate The Weintraub Companies and head of Tiger 21 in Miami. According to Weintraub, investors who ignored bitcoin eight months ago are now following with interest the publications in the media devoted to comparisons of gold and the first cryptocurrency. “We don't know where this topic is heading. It might be justified, it might be insanity, or something in between. So why not add a small fraction of [bitcoin] to your portfolio? It's kind of insurance, ”he explained. Back in mid-October we wrote that wealthy people are massively going to Bitcoin. So here is another confirmation. Source | Bloomberg.
In closing: Consider the first option a priority. Accelerating growth of Bitcoin with #altcoins standing still, growth of the dominance index above 66% - in favor of option 2.
Thoughts on the market for 06.11.2020: About $1 billion of #Bitcoin tied to the #SilkRoad marketplace was seized by the #U.S. on Tuesday. #blockchain
#Bitcoin continued to grow during the day and took the psychological level of 15000, reaching a maximum above 15980. Currently trading around 15600. Total Crypto-Market capitalization at $445 billion and #BTC dominance index 65.5
The stock markets are solidly positive, US indices rose from 2.02% to 2.68%, the S&P 500 closed at 3510. The dollar index fell to 92.6, and gold rose strongly, which peaked above 1950.
There was a Fed meeting yesterday followed by a press conference. The main idea is that low rates and monetary support have gone sideways for a long time, the Fed has a lot of instruments and they will be applied if necessary.
For now, the markets are growing, despite the possible contestation of the election results. There is still a strange situation with votes that came in the mail - they are almost all in favor of Biden. Trump's attempts to stop the counting of votes in some states have so far been unsuccessful. This is a flaw of Trump and his staff - being the incumbent president and at the same time suffering from fraud is strange. It was necessary either to prevent voting by mail, or to take control of the points of possible falsifications.
Half of the number of voters that voted at all in 2016 voted by mail, and it is clear that manipulation of the postal vote can greatly affect the result, which is what we see.
Futures on the S&P 500 are already in the red, gold also dipped somewhat. Obviously, after such a growth, profit-taking can take place in the markets, especially if there is uncertainty about the outcome of the elections.
Bitcoin met the expectations that were mentioned earlier. Hope you are following the recommendation, which at the end of the material on the entry of large players into the market, is now in positive territory by more than 30%. Taking the $400 billion level has been a success, surpassing by $39Billion.
New money entered the market, capitalization is already under 450 billion, which means that with stable Bitcoin, it's time to launch the #altseason. Etherum has already moved to growth, a maximum of 442 has been reached, if there is no extreme on the market, the TOP alts will also move to growth.
After such an increase in #Bitcoin, some correction is logical. The question is where will the bottom of the new trading range for the main cryptocurrency be. Most likely, it will be around 15000-14800. If we leave for the weekend, then we will start #altseason that's on the scenario by Monday the market capitalization will approach 480-490 billion.
External negative or some kind of #FUD on the crypto market like the recent news with US authorities conficaicating more than $ 1 billion worth of bitcoins associated with Silk Road. These are the same 69,370 BTC, originating from the Silk Road darknet marketplace. The US Justice Department seeks forfeiture of funds it seized Tuesday It’s the biggest cryptocurrency bust the government has made. The U.S. is suing for the forfeiture of more than $1 billion in Bitcoins it says are linked to the criminal marketplace Silk Road it shut down seven years ago. The thousands of Bitcoins, which the Justice Department seized on Tuesday, represent the largest cryptocurrency bust the government has ever made, it said in a statement on Thursday.
We may see a crash of Bitcoin to 14500 (falling to 14500 sounds nice), but even with this option, the beginning of altseason is a matter of a short time. As soon as Bitcoin stabilizes (preferably above 15K), it will begin.
As always wishing you a blessed weekend ahead and remember this is not financial advice or investment recommendation. Must do your own research.
#decryptedge
#Bitcoin continued to grow during the day and took the psychological level of 15000, reaching a maximum above 15980. Currently trading around 15600. Total Crypto-Market capitalization at $445 billion and #BTC dominance index 65.5
The stock markets are solidly positive, US indices rose from 2.02% to 2.68%, the S&P 500 closed at 3510. The dollar index fell to 92.6, and gold rose strongly, which peaked above 1950.
There was a Fed meeting yesterday followed by a press conference. The main idea is that low rates and monetary support have gone sideways for a long time, the Fed has a lot of instruments and they will be applied if necessary.
For now, the markets are growing, despite the possible contestation of the election results. There is still a strange situation with votes that came in the mail - they are almost all in favor of Biden. Trump's attempts to stop the counting of votes in some states have so far been unsuccessful. This is a flaw of Trump and his staff - being the incumbent president and at the same time suffering from fraud is strange. It was necessary either to prevent voting by mail, or to take control of the points of possible falsifications.
Half of the number of voters that voted at all in 2016 voted by mail, and it is clear that manipulation of the postal vote can greatly affect the result, which is what we see.
Futures on the S&P 500 are already in the red, gold also dipped somewhat. Obviously, after such a growth, profit-taking can take place in the markets, especially if there is uncertainty about the outcome of the elections.
Bitcoin met the expectations that were mentioned earlier. Hope you are following the recommendation, which at the end of the material on the entry of large players into the market, is now in positive territory by more than 30%. Taking the $400 billion level has been a success, surpassing by $39Billion.
New money entered the market, capitalization is already under 450 billion, which means that with stable Bitcoin, it's time to launch the #altseason. Etherum has already moved to growth, a maximum of 442 has been reached, if there is no extreme on the market, the TOP alts will also move to growth.
After such an increase in #Bitcoin, some correction is logical. The question is where will the bottom of the new trading range for the main cryptocurrency be. Most likely, it will be around 15000-14800. If we leave for the weekend, then we will start #altseason that's on the scenario by Monday the market capitalization will approach 480-490 billion.
External negative or some kind of #FUD on the crypto market like the recent news with US authorities conficaicating more than $ 1 billion worth of bitcoins associated with Silk Road. These are the same 69,370 BTC, originating from the Silk Road darknet marketplace. The US Justice Department seeks forfeiture of funds it seized Tuesday It’s the biggest cryptocurrency bust the government has made. The U.S. is suing for the forfeiture of more than $1 billion in Bitcoins it says are linked to the criminal marketplace Silk Road it shut down seven years ago. The thousands of Bitcoins, which the Justice Department seized on Tuesday, represent the largest cryptocurrency bust the government has ever made, it said in a statement on Thursday.
We may see a crash of Bitcoin to 14500 (falling to 14500 sounds nice), but even with this option, the beginning of altseason is a matter of a short time. As soon as Bitcoin stabilizes (preferably above 15K), it will begin.
As always wishing you a blessed weekend ahead and remember this is not financial advice or investment recommendation. Must do your own research.
#decryptedge
DECRYPT EDGE is inviting you to a scheduled Zoom meeting.
Topic: *DIGITIZATION SHIFT ..... WHERE ARE YOU?*
Time: *Nov 7, 2020 09:55 AM Nairobi*
TODAY on *BITCOIN101* - Let's learn about...
*-#Bitcoin Versions and Upgrades, since the Genesis Block!*
*- Crypto-Markets news and updates.*
*- Open Q & A session.*
Join Zoom Meeting
https://us02web.zoom.us/j/86440086431?pwd=YTNUTnA2dmR0aWVZUTNQVk05dHA3QT09
Meeting ID: 864 4008 6431
Passcode: BITCOIN101
Topic: *DIGITIZATION SHIFT ..... WHERE ARE YOU?*
Time: *Nov 7, 2020 09:55 AM Nairobi*
TODAY on *BITCOIN101* - Let's learn about...
*-#Bitcoin Versions and Upgrades, since the Genesis Block!*
*- Crypto-Markets news and updates.*
*- Open Q & A session.*
Join Zoom Meeting
https://us02web.zoom.us/j/86440086431?pwd=YTNUTnA2dmR0aWVZUTNQVk05dHA3QT09
Meeting ID: 864 4008 6431
Passcode: BITCOIN101
Thoughts on the market for 07.11.2020 💡Quote of the Day💡 "There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a #bullmarket or the end of a #bearmarket." -Paul Tudor Jones
#Bitcoin has held above 15,000, during the day and moving in the range of 15400-15700. Last night there was an attempted correction to 15200, which was quickly bought out. Currently trading above 15,500. Total Crypto-Market capitalization of $449 billion, and BTC dominance index of 64.1
Equities closed slightly lower yesterday, with the S&P 500 close at 3509. The positive is Democrats will not have a majority in Congress as has already been worked out in the previous two days, the data on the labor market in the United States is weak, there is no clarity with the election results. Rather, it is already clear that, according to the results of the vote count, Biden is ahead, and Trump, not without reason, speaks of fraud in the postal vote. It is not clear how this story will end.
How Trump will protest the results, what will come of it, whether the street is included in the process - these are questions that we will find answers to next week. If somehow the results of the elections are summed up quickly and without excesses, the markets have a chance to take highs amid expectations of a quick adoption of the aid package.
But the more likely option is that the results will not be summed up quickly, and the markets, at best, will slowly fall. I will write about possible scenarios.
Gold closed at 1952, but oil fell more than 3%.
Bitcoin, after an impressive surge above 15K, is consolidating around 15,500. While support at 15,400 has emerged, corrections below this level are quickly redeemed. Bitcoin was supported by the dollar index, which fell to a two-month low. How the dollar index affects Bitcoin, I shall write about it again.
It is clear that after such an increase and with an extremely high fear index, a correction is inevitable. Yesterday I talked about possible options, events are developing according to option 1
After taking 400 billion of capitalization, altcoins, as expected, switched to growth. The dominance index is declining, Ether is already above 450, TOP alts and even the DeFi sector are growing, which has recently found itself at a very deep bottom.
On the thin weekend market, sharp spills are possible (as, for example, it was on August 2, when Bitcoin updated its annual maximum at 12K, and then on the weekend there was a spill of more than 1000 points). But the priority option is Bitcoin in the 15700-15400 range and the growth of altcoins. I will write about the prospects for the next week later this evening.
As always have a blessed weekend ahead, remember this is not traditional investment advice, do not take is as financial advice. Must do your own research . #decryptedge
#Bitcoin has held above 15,000, during the day and moving in the range of 15400-15700. Last night there was an attempted correction to 15200, which was quickly bought out. Currently trading above 15,500. Total Crypto-Market capitalization of $449 billion, and BTC dominance index of 64.1
Equities closed slightly lower yesterday, with the S&P 500 close at 3509. The positive is Democrats will not have a majority in Congress as has already been worked out in the previous two days, the data on the labor market in the United States is weak, there is no clarity with the election results. Rather, it is already clear that, according to the results of the vote count, Biden is ahead, and Trump, not without reason, speaks of fraud in the postal vote. It is not clear how this story will end.
How Trump will protest the results, what will come of it, whether the street is included in the process - these are questions that we will find answers to next week. If somehow the results of the elections are summed up quickly and without excesses, the markets have a chance to take highs amid expectations of a quick adoption of the aid package.
But the more likely option is that the results will not be summed up quickly, and the markets, at best, will slowly fall. I will write about possible scenarios.
Gold closed at 1952, but oil fell more than 3%.
Bitcoin, after an impressive surge above 15K, is consolidating around 15,500. While support at 15,400 has emerged, corrections below this level are quickly redeemed. Bitcoin was supported by the dollar index, which fell to a two-month low. How the dollar index affects Bitcoin, I shall write about it again.
It is clear that after such an increase and with an extremely high fear index, a correction is inevitable. Yesterday I talked about possible options, events are developing according to option 1
After taking 400 billion of capitalization, altcoins, as expected, switched to growth. The dominance index is declining, Ether is already above 450, TOP alts and even the DeFi sector are growing, which has recently found itself at a very deep bottom.
On the thin weekend market, sharp spills are possible (as, for example, it was on August 2, when Bitcoin updated its annual maximum at 12K, and then on the weekend there was a spill of more than 1000 points). But the priority option is Bitcoin in the 15700-15400 range and the growth of altcoins. I will write about the prospects for the next week later this evening.
As always have a blessed weekend ahead, remember this is not traditional investment advice, do not take is as financial advice. Must do your own research . #decryptedge
What is the Dollar Index? 💡Quote of the Day💡
“You never know what kind of setup market will present to you, your objective should be to find an opportunity where the risk-reward ratio is best.”
– Jaymin Shah ✒️
Recently, the #DollarIndex has been frequently mentioned in our reviews. . It is clear from the reviews that it affects the Bitcoin exchange rate, but not everyone understands exactly how this happens. This will help synthesize for better understanding.
The dollar index is the value of the #dollar exchange rate relative to a basket of currencies. It was first launched back in 1973, the initial value was 100.00. As you can see, since that time it has not changed significantly - the value of the dollar index right now is like this: 92.847
But what does it have to do with #Bitcoin?
To understand this, open the dollar index chart, for example, and in another separate window, open the Bitcoin chart. Bitcoin's high on 18th August 2020 was around 12,40, the dollar index at that time was around 92.5.
Bitcoin's next peak above 12K was on September 1. The dollar index at that time was even lower - at 92.14, and on September 9, the dollar index reached a local peak at 93.6 - and Bitcoin was then looking for a bottom at 9800. Since September 14, the dollar index fell below 93 - Bitcoin is already storming 10,800.
As you can see, there is an inverse #correlation. The higher the dollar index, the worse it is for Bitcoin.
Maybe this is a coincidence?
Let's then look at when the dollar index was at its highest in 2020. Since March 9, the dollar index has grown strongly, a peak above 102 reached on March 20, from March 18 to March 27, the value of the dollar index was above 100. Where Bitcoin found itself in the first half of March, everyone remembers. Do you? Since the end of May, the dollar index has been falling, and Bitcoin has been rising. In September, the dollar index began to rise - Bitcoin is falling. Since September 9, the dollar index has been falling - Bitcoin is growing.
From this it follows that the dollar and Bitcoin index have a clearly pronounced inverse correlation, both in growth and in decline.
Explanation - the dollar index rises when risk appetite decreases, and in this case, Bitcoin, as a risky asset, declines. When the dollar index falls, then investors' appetite for risk grows, and Bitcoin grows too.
There is nothing good in this, but this is an objective reality, which is caused by the arrival of institutions on the market (the process began in 2017 with #CME futures). The movement of the dollar index is now a leading indicator that allows us to understand the direction of movement of the crypto-market.
#decryptedge
“You never know what kind of setup market will present to you, your objective should be to find an opportunity where the risk-reward ratio is best.”
– Jaymin Shah ✒️
Recently, the #DollarIndex has been frequently mentioned in our reviews. . It is clear from the reviews that it affects the Bitcoin exchange rate, but not everyone understands exactly how this happens. This will help synthesize for better understanding.
The dollar index is the value of the #dollar exchange rate relative to a basket of currencies. It was first launched back in 1973, the initial value was 100.00. As you can see, since that time it has not changed significantly - the value of the dollar index right now is like this: 92.847
But what does it have to do with #Bitcoin?
To understand this, open the dollar index chart, for example, and in another separate window, open the Bitcoin chart. Bitcoin's high on 18th August 2020 was around 12,40, the dollar index at that time was around 92.5.
Bitcoin's next peak above 12K was on September 1. The dollar index at that time was even lower - at 92.14, and on September 9, the dollar index reached a local peak at 93.6 - and Bitcoin was then looking for a bottom at 9800. Since September 14, the dollar index fell below 93 - Bitcoin is already storming 10,800.
As you can see, there is an inverse #correlation. The higher the dollar index, the worse it is for Bitcoin.
Maybe this is a coincidence?
Let's then look at when the dollar index was at its highest in 2020. Since March 9, the dollar index has grown strongly, a peak above 102 reached on March 20, from March 18 to March 27, the value of the dollar index was above 100. Where Bitcoin found itself in the first half of March, everyone remembers. Do you? Since the end of May, the dollar index has been falling, and Bitcoin has been rising. In September, the dollar index began to rise - Bitcoin is falling. Since September 9, the dollar index has been falling - Bitcoin is growing.
From this it follows that the dollar and Bitcoin index have a clearly pronounced inverse correlation, both in growth and in decline.
Explanation - the dollar index rises when risk appetite decreases, and in this case, Bitcoin, as a risky asset, declines. When the dollar index falls, then investors' appetite for risk grows, and Bitcoin grows too.
There is nothing good in this, but this is an objective reality, which is caused by the arrival of institutions on the market (the process began in 2017 with #CME futures). The movement of the dollar index is now a leading indicator that allows us to understand the direction of movement of the crypto-market.
#decryptedge
Thoughts on the market on 09.11.2020 💡Quote of the Day💡
"Today Sunday the 8/11/20 the front pages of #Kenyan newspapers is about American Elections and the back pages about English football. Meanwhile, #Ethiopia is the neighborhood is at "War" which will affect us directly. Brethren, who bewitched us?"
~ @Prof. PLO Lumumba
On Saturday evening, Bitcoin corrected to 14500 and reached lows around 14350. The correction was quickly redeemed, Bitcoin went up and is now trading around 15500 again. Total Crypto-Market capitalization is at $446 billion and #BTC dominance index of 64.3%.
Markets opened positively; S&P 500 futures are up more than 1.4%, Asian indices are up, even oil is up more than 2%. The dollar index continues to fall and is already below 92.2. Shared yesterday about its importance.
Obviously, this is a reaction to the clarification of the situation with the elections in the United States. There was no official announcement of the results, but Biden's victory is already clear.
Obviously, Trump has no opportunity to replay something, on the street or in court.
The positive for the markets will be Trump's recognition of defeat, as well as news on the aid package. On the negative side, Biden's manifestation of corona psychosis and his intentions to quarantine the economy after taking office.
Bitcoin over the weekend worked out the idea of spilling out in the weekend thin market, which was talked about on Saturday. Interestingly, the correction was exactly the same as on August 2 this year, when, after a rapid rise to 12K, Bitcoin fell by more than 1000 points..
Now the picture is similar - during the fall, #Bitcoin reached lows below 14,400, but quickly moved to growth, and with the opening of the markets, it returned all the lost positions. The market has once again confirmed that stop-loss is a meaningless blow to your deposit. I will write about this later today.
Today I expect Bitcoin to move in the range 15250-15600. In case of fixing above 15600, the maximum update is relevant.
A possible negative for the Crypto-market could come from #China, where something is clearly happening around the #Okex and #Huobi exchanges. The information is contradictory, but we are clearly talking about the key persons of these exchanges falling under the pressure of the Chinese security forces. In parallel with this, there is a movement of large amounts of Bitcoins, which before that were motionless for 9-10 years.
Considering the fear index at the extreme value of 90, some kind of #FUD on the topic "China is once again banning Bitcoin and closing all exchanges" could trigger a big crash. Nonetheless a correction will be either not very strong or in the short-term.
Altcoins were growing well on Saturday, but Bitcoin's movements almost returned them to their original position. Out of the TOP, only Etherum has practically not lost its positions and is holding above 450. To start the altseason, it is necessary to stabilize Bitcoin for a few days above 15200, or better above 15500. The criterion for the beginning of the altseason will be the capture of $500 by Ether and consolidating the market capitalization above $450 billion.
As always wishing you a great day ahead. Remember to always do your own research. This ought not to be take as traditional investment advice. #decryptedge
"Today Sunday the 8/11/20 the front pages of #Kenyan newspapers is about American Elections and the back pages about English football. Meanwhile, #Ethiopia is the neighborhood is at "War" which will affect us directly. Brethren, who bewitched us?"
~ @Prof. PLO Lumumba
On Saturday evening, Bitcoin corrected to 14500 and reached lows around 14350. The correction was quickly redeemed, Bitcoin went up and is now trading around 15500 again. Total Crypto-Market capitalization is at $446 billion and #BTC dominance index of 64.3%.
Markets opened positively; S&P 500 futures are up more than 1.4%, Asian indices are up, even oil is up more than 2%. The dollar index continues to fall and is already below 92.2. Shared yesterday about its importance.
Obviously, this is a reaction to the clarification of the situation with the elections in the United States. There was no official announcement of the results, but Biden's victory is already clear.
Obviously, Trump has no opportunity to replay something, on the street or in court.
The positive for the markets will be Trump's recognition of defeat, as well as news on the aid package. On the negative side, Biden's manifestation of corona psychosis and his intentions to quarantine the economy after taking office.
Bitcoin over the weekend worked out the idea of spilling out in the weekend thin market, which was talked about on Saturday. Interestingly, the correction was exactly the same as on August 2 this year, when, after a rapid rise to 12K, Bitcoin fell by more than 1000 points..
Now the picture is similar - during the fall, #Bitcoin reached lows below 14,400, but quickly moved to growth, and with the opening of the markets, it returned all the lost positions. The market has once again confirmed that stop-loss is a meaningless blow to your deposit. I will write about this later today.
Today I expect Bitcoin to move in the range 15250-15600. In case of fixing above 15600, the maximum update is relevant.
A possible negative for the Crypto-market could come from #China, where something is clearly happening around the #Okex and #Huobi exchanges. The information is contradictory, but we are clearly talking about the key persons of these exchanges falling under the pressure of the Chinese security forces. In parallel with this, there is a movement of large amounts of Bitcoins, which before that were motionless for 9-10 years.
Considering the fear index at the extreme value of 90, some kind of #FUD on the topic "China is once again banning Bitcoin and closing all exchanges" could trigger a big crash. Nonetheless a correction will be either not very strong or in the short-term.
Altcoins were growing well on Saturday, but Bitcoin's movements almost returned them to their original position. Out of the TOP, only Etherum has practically not lost its positions and is holding above 450. To start the altseason, it is necessary to stabilize Bitcoin for a few days above 15200, or better above 15500. The criterion for the beginning of the altseason will be the capture of $500 by Ether and consolidating the market capitalization above $450 billion.
As always wishing you a great day ahead. Remember to always do your own research. This ought not to be take as traditional investment advice. #decryptedge
Thoughts on the market as of 10.11.2020: Every Major #Bank Will Have Exposure to #Bitcoin, Says Renowned Fund Manager Bill Miller.
Bitcoin showed high volatility during the last 24hrs. Reached a highs above $15860, followed by a fall below 14830. Currently trading in the 15200-15450 range for more than 8 hours. Total Crypto-Market capitalization is at $443 billion and BTC dominance index of 64.3%.
Volatility was noted too on financial markets yesterday. The Dow Jones rose by 4.28% to hit a 6-month high, the S&P 500 closed at 3555, on top of it gaining another 1.17%, reaching above 3600 during the trading session. With these figures ATH was attained, on the other hand Nasdaq was down by 0.15%.
The culprit was the German company Pfizer, which announced that they had a vaccine against coronavirus that showed 90% effectiveness, and they intend to turn to the regulator for its approval at the end of the month.
At the same time, the chief coronavirus expert Anthony Fauci said that 60% efficiency is acceptable, and 90% is "extraordinary". Pfizer said it could have released 1.3 billion doses of the vaccine by the end of next year. Understandably, the news skyrocketed the shares of Pfizer and partner companies. But the biggest growth was shown by companies that are not associated with vaccine production, but suffered from restrictions: airlines, cruise operators, etc.
For example, the cruise operator Carnival grew by 29%, and the cinema operator AMC by 51%. This is, of course, good. But imagine what will happen in the markets if it turns out that everything is not so good with the vaccine, and there may be problems with its approval by the FDA? In the meantime, all the news about vaccines that caused excitement in the markets ended that way.
It looks like the markets are worried that it will be as usual again. S&P 500 futures are already in the red, while Asian indices are growing. Gold has dropped significantly, which is strange given the low dollar index. But now it is already returning to growth.
Bitcoin grew steadily yesterday in the first half of the day and reached values above 15800. But then the sell off started, 2 hours after 15800, Bitcoin was already testing support at 14800. Good enough support held through and resisted, bouncing back again above 15200, to the previous trading range.
Altcoins are mostly held at the same levels. They did not fall much, because market participants understand that with Bitcoin above 15K, all TOP alts are now greatly undervalued. But they do not grow either, since a stable Bitcoin is needed for the growth of altcoins. Our thoughts are #Bitcoin will soon stabilize, and then the time for altcoins will come.
Stability for #Bitcoin is further strengthened by such news from Veteran investors. As reported by | news.bitcoin.com | A growing number of major corporations have been gaining exposure to bitcoin, prompting speculation of when the rest of them will follow. Following Microstrategy’s $425 million investment, Square invested in bitcoin and Paypal launched a cryptocurrency service. Now, famous investor Bill Miller reportedly told CNBC on Friday: I think every major bank, every major investment bank, every major high net worth firm is going to eventually have some exposure to bitcoin or what’s like it.
Today, the priority option is Bitcoin in the 15200-15600 range, with possible corrections to 14800. In case of external negative or FUD from #China (said in yesterday's review), we can test the area from 14500-13800.
With that said, wishing you a great day ahead, remember this is not traditional investment or financial advice. Must do your own research. #decryptedge
Bitcoin showed high volatility during the last 24hrs. Reached a highs above $15860, followed by a fall below 14830. Currently trading in the 15200-15450 range for more than 8 hours. Total Crypto-Market capitalization is at $443 billion and BTC dominance index of 64.3%.
Volatility was noted too on financial markets yesterday. The Dow Jones rose by 4.28% to hit a 6-month high, the S&P 500 closed at 3555, on top of it gaining another 1.17%, reaching above 3600 during the trading session. With these figures ATH was attained, on the other hand Nasdaq was down by 0.15%.
The culprit was the German company Pfizer, which announced that they had a vaccine against coronavirus that showed 90% effectiveness, and they intend to turn to the regulator for its approval at the end of the month.
At the same time, the chief coronavirus expert Anthony Fauci said that 60% efficiency is acceptable, and 90% is "extraordinary". Pfizer said it could have released 1.3 billion doses of the vaccine by the end of next year. Understandably, the news skyrocketed the shares of Pfizer and partner companies. But the biggest growth was shown by companies that are not associated with vaccine production, but suffered from restrictions: airlines, cruise operators, etc.
For example, the cruise operator Carnival grew by 29%, and the cinema operator AMC by 51%. This is, of course, good. But imagine what will happen in the markets if it turns out that everything is not so good with the vaccine, and there may be problems with its approval by the FDA? In the meantime, all the news about vaccines that caused excitement in the markets ended that way.
It looks like the markets are worried that it will be as usual again. S&P 500 futures are already in the red, while Asian indices are growing. Gold has dropped significantly, which is strange given the low dollar index. But now it is already returning to growth.
Bitcoin grew steadily yesterday in the first half of the day and reached values above 15800. But then the sell off started, 2 hours after 15800, Bitcoin was already testing support at 14800. Good enough support held through and resisted, bouncing back again above 15200, to the previous trading range.
Altcoins are mostly held at the same levels. They did not fall much, because market participants understand that with Bitcoin above 15K, all TOP alts are now greatly undervalued. But they do not grow either, since a stable Bitcoin is needed for the growth of altcoins. Our thoughts are #Bitcoin will soon stabilize, and then the time for altcoins will come.
Stability for #Bitcoin is further strengthened by such news from Veteran investors. As reported by | news.bitcoin.com | A growing number of major corporations have been gaining exposure to bitcoin, prompting speculation of when the rest of them will follow. Following Microstrategy’s $425 million investment, Square invested in bitcoin and Paypal launched a cryptocurrency service. Now, famous investor Bill Miller reportedly told CNBC on Friday: I think every major bank, every major investment bank, every major high net worth firm is going to eventually have some exposure to bitcoin or what’s like it.
Today, the priority option is Bitcoin in the 15200-15600 range, with possible corrections to 14800. In case of external negative or FUD from #China (said in yesterday's review), we can test the area from 14500-13800.
With that said, wishing you a great day ahead, remember this is not traditional investment or financial advice. Must do your own research. #decryptedge
Thoughts on the market for 11.11.2020: As Former #Microsoft Engineer to Serve 9 Years in Prison in a Case That Involves Use of #Bitcoin Mixers.
#Bitcoin moved in the 15200-15500 range in the last 24hrs.
The break below 15200, which occurred yesterday at the beginning of the American session, was quickly bought back and returned to the trading range. Currently trading around 15400-15450.
Total Crypto-Market capitalization of $448 billion and BTC dominance index of 63.8%.
Yesterday saw the Stock markets moving in different directions. Only the Dow Jones rose, the rest of the indices fell slightly while the S&P 500 closed at 3545.55
Markets continue to digest news of the #coronavirus #vaccine. The stocks of the companies hit hardest by the corona psychosis continue to rally, and the tech sector is in the red. Zoom, which has grown on self-isolation, lost 17% in value, while airlines and cruise operators continue to grow.
This notwithstanding S&P 500 futures are growing; the Asian indices are also growing. Gold is practically in place around 1880, dollar sufficiency index is low, just above 92.6
There is information that Trump may manage to protest the elections in Pennsylvania, which retains Biden's leading position, but makes his victory no longer unconditional. The results in other states can also be challenged, there are people who, under oath, are ready to testify about the ballot stuffing and their retroactive registration.
If the information is confirmed, it will add volatility to the markets. A collapse may be inevitable in the event of any negative about the quality of the vaccine or the timing of its mass market launch. Pushing the markets to the highs on the other hand on information about the acceptance of the aid package or confirmation of the imminent mass release of the vaccine.
On the crypto-market, events developed according to yesterday's review- Bitcoin held above 15200, altcoins moved to growth. Etherum is already trading above 460, and market capitalization is approaching $ 450 billion. Bitcoin's correlation with stock markets is decreasing, but the inverse correlation with the dollar index remains.
A U.S. court in Seattle has sentenced a former #Microsoft engineer to 9 years in prison after finding him guilty of 18 federal felonies relating to his elaborate scheme to defraud the tech giant $10 million. In passing the judgment, the court blasts Volodymyr Kvashuk, a software engineer and citizen of Ukraine, for attempting to mask digital evidence through the use of bitcoin mixers and the illegal use of accounts and passwords of fellow employees to aid this scheme. Using proceeds from the gift card sales, Kvashuk “purchased a $1.6 million dollar lakefront home and a $160,000 Tesla vehicle.” As the thefts escalated, Kvashuk started “using test email accounts associated with other employees” to cover his tracks. The document adds: He used a bitcoin ‘mixing’ service in an attempt to hide the source of the funds ultimately passing into his bank account. In all, over the seven months of Kvashuk’s illegal activity, approximately $2.8 million in bitcoin were transferred to his bank and investment accounts. Kvashuk then filed fake tax return forms, claiming the bitcoin had been a gift from a relative. Source | news.bitcoin.com
In summary, Bitcoin has held 15K for almost a week now. In this case, corrections are quickly redeemed, and the highs are getting higher. Yesterday bears were stopped above 15080. Unless there is a strong external negative or #FUD from China, the priority option will be to continue consolidation in the 15200-15600 range, followed by consolidation above 15600 and renewed highs.
As I said yesterday, with a stable #Bitcoin, the growth of alts begins. The dominance index falls, the market capitalization grows. To continue the banquet, it is necessary to take a capitalization level of 450 billion, and if external factors are not placed, this is the plan for today. So far, the local highs in terms of capitalization were reached on November 7.
#Bitcoin moved in the 15200-15500 range in the last 24hrs.
The break below 15200, which occurred yesterday at the beginning of the American session, was quickly bought back and returned to the trading range. Currently trading around 15400-15450.
Total Crypto-Market capitalization of $448 billion and BTC dominance index of 63.8%.
Yesterday saw the Stock markets moving in different directions. Only the Dow Jones rose, the rest of the indices fell slightly while the S&P 500 closed at 3545.55
Markets continue to digest news of the #coronavirus #vaccine. The stocks of the companies hit hardest by the corona psychosis continue to rally, and the tech sector is in the red. Zoom, which has grown on self-isolation, lost 17% in value, while airlines and cruise operators continue to grow.
This notwithstanding S&P 500 futures are growing; the Asian indices are also growing. Gold is practically in place around 1880, dollar sufficiency index is low, just above 92.6
There is information that Trump may manage to protest the elections in Pennsylvania, which retains Biden's leading position, but makes his victory no longer unconditional. The results in other states can also be challenged, there are people who, under oath, are ready to testify about the ballot stuffing and their retroactive registration.
If the information is confirmed, it will add volatility to the markets. A collapse may be inevitable in the event of any negative about the quality of the vaccine or the timing of its mass market launch. Pushing the markets to the highs on the other hand on information about the acceptance of the aid package or confirmation of the imminent mass release of the vaccine.
On the crypto-market, events developed according to yesterday's review- Bitcoin held above 15200, altcoins moved to growth. Etherum is already trading above 460, and market capitalization is approaching $ 450 billion. Bitcoin's correlation with stock markets is decreasing, but the inverse correlation with the dollar index remains.
A U.S. court in Seattle has sentenced a former #Microsoft engineer to 9 years in prison after finding him guilty of 18 federal felonies relating to his elaborate scheme to defraud the tech giant $10 million. In passing the judgment, the court blasts Volodymyr Kvashuk, a software engineer and citizen of Ukraine, for attempting to mask digital evidence through the use of bitcoin mixers and the illegal use of accounts and passwords of fellow employees to aid this scheme. Using proceeds from the gift card sales, Kvashuk “purchased a $1.6 million dollar lakefront home and a $160,000 Tesla vehicle.” As the thefts escalated, Kvashuk started “using test email accounts associated with other employees” to cover his tracks. The document adds: He used a bitcoin ‘mixing’ service in an attempt to hide the source of the funds ultimately passing into his bank account. In all, over the seven months of Kvashuk’s illegal activity, approximately $2.8 million in bitcoin were transferred to his bank and investment accounts. Kvashuk then filed fake tax return forms, claiming the bitcoin had been a gift from a relative. Source | news.bitcoin.com
In summary, Bitcoin has held 15K for almost a week now. In this case, corrections are quickly redeemed, and the highs are getting higher. Yesterday bears were stopped above 15080. Unless there is a strong external negative or #FUD from China, the priority option will be to continue consolidation in the 15200-15600 range, followed by consolidation above 15600 and renewed highs.
As I said yesterday, with a stable #Bitcoin, the growth of alts begins. The dominance index falls, the market capitalization grows. To continue the banquet, it is necessary to take a capitalization level of 450 billion, and if external factors are not placed, this is the plan for today. So far, the local highs in terms of capitalization were reached on November 7.
As always wishing you a blessed day ahead and remember this is not traditional investment advice and ought not to be taken as financial advice. Must do your own research. #decryptedge
Thoughts on the market for 12.11.2020: #Moderna close to revealing first #data on whether its #vaccine works.
#Bitcoin went up and out of the trading range, updated another high at 16,000, after which it corrected to 15,600 and is now trading around 15,630. Total Crypto-Market capitalization is at 450 billion and #BTC dominance index of 64.4%
On the macro everything is positive on the stock markets. The S&P 500 rose 0.77% to close at 3572.66, the Nasdaq rose 1.68% and the Dow Jones fell 0.32%.
#Tech stocks are recovering after falling amid vaccine news. Next week, MODERNA promises to announce the results of vaccine trials, according to preliminary information, the results are not worse than those of #PFIZER. This could push the markets to new highs. Moderna is an American biotechnology company based in Cambridge, Massachusetts that focuses on drug discovery, drug development, and vaccine technologies based exclusively on messenger RNA. Founded back in 2010, its trading on (NASDAQ) under the ticker #MRNA with a price of US$82.44.It has already registered a +$6.39 (+8.40%) gain as of writing this review. The company reported a revenue of $60.2 million USD (2019). If Moderna's trial proves to be a success, the company could follow a similar timeline as Pfizer and apply for an emergency authorization later this month or in early December.
#Moderna said it expects to produce about 20 million doses of its vaccine through the end of the year, and from 500 million to 1 billion doses worldwide in 2021. The U.S. has purchased 100 million doses of the vaccine for about $1.5 billion. Source | politico.com | Google.
Gold continues to fall, already in 1868, which indicates an increase in risk appetite. Futures on the S&P 500 are in a slight minus, the dollar index rose slightly, but is still below 93. If there is no new positive about the support package or the vaccine, the markets today may well go for a correction.
#Bitcoin has completely fulfilled yesterday's review. First, consolidation continued in the 15200-15600 range, then consolidation above 15600 and another update of the highs: the main cryptocurrency reached 16K, before that it was at this mark in January 2018. Bitcoin rolled back to 15,600 overnight, registering this level, and is now trading above it. If 15,600 does not hold up, it will return to the previous trading range of 15600-15200. If the level is held, then the next trip to 16K is relevant, and if the attempt is successful, then even higher.
Alts rose yesterday, capitalization has renewed a high of 457 billion. If Bitcoin holds above 15,600, the growth will continue.
In favor of further market growth - fundamental factors, the growing interest of large players who are buying all the corrections, and doing it all the higher, the incompleteness of the current growth cycle (alt-coins have not yet grown in proportion to #Bitcoin growth
In favor of the fall - an extremely high index of greed and fear, a long reconciles growth expected by the FUD from #China, a growing dollar index. If there is no strong external negative, the option of further growth is a priority. If Bitcoin does not update before the weekend highs, but remains at the current levels, we are waiting for the local alt-season at the weekend.
As always have a blessed day ahead, and remember this is not traditional investment advice, must not be considered as financial advice or recommendation. Must do your own research. #decryptedge
#Bitcoin went up and out of the trading range, updated another high at 16,000, after which it corrected to 15,600 and is now trading around 15,630. Total Crypto-Market capitalization is at 450 billion and #BTC dominance index of 64.4%
On the macro everything is positive on the stock markets. The S&P 500 rose 0.77% to close at 3572.66, the Nasdaq rose 1.68% and the Dow Jones fell 0.32%.
#Tech stocks are recovering after falling amid vaccine news. Next week, MODERNA promises to announce the results of vaccine trials, according to preliminary information, the results are not worse than those of #PFIZER. This could push the markets to new highs. Moderna is an American biotechnology company based in Cambridge, Massachusetts that focuses on drug discovery, drug development, and vaccine technologies based exclusively on messenger RNA. Founded back in 2010, its trading on (NASDAQ) under the ticker #MRNA with a price of US$82.44.It has already registered a +$6.39 (+8.40%) gain as of writing this review. The company reported a revenue of $60.2 million USD (2019). If Moderna's trial proves to be a success, the company could follow a similar timeline as Pfizer and apply for an emergency authorization later this month or in early December.
#Moderna said it expects to produce about 20 million doses of its vaccine through the end of the year, and from 500 million to 1 billion doses worldwide in 2021. The U.S. has purchased 100 million doses of the vaccine for about $1.5 billion. Source | politico.com | Google.
Gold continues to fall, already in 1868, which indicates an increase in risk appetite. Futures on the S&P 500 are in a slight minus, the dollar index rose slightly, but is still below 93. If there is no new positive about the support package or the vaccine, the markets today may well go for a correction.
#Bitcoin has completely fulfilled yesterday's review. First, consolidation continued in the 15200-15600 range, then consolidation above 15600 and another update of the highs: the main cryptocurrency reached 16K, before that it was at this mark in January 2018. Bitcoin rolled back to 15,600 overnight, registering this level, and is now trading above it. If 15,600 does not hold up, it will return to the previous trading range of 15600-15200. If the level is held, then the next trip to 16K is relevant, and if the attempt is successful, then even higher.
Alts rose yesterday, capitalization has renewed a high of 457 billion. If Bitcoin holds above 15,600, the growth will continue.
In favor of further market growth - fundamental factors, the growing interest of large players who are buying all the corrections, and doing it all the higher, the incompleteness of the current growth cycle (alt-coins have not yet grown in proportion to #Bitcoin growth
In favor of the fall - an extremely high index of greed and fear, a long reconciles growth expected by the FUD from #China, a growing dollar index. If there is no strong external negative, the option of further growth is a priority. If Bitcoin does not update before the weekend highs, but remains at the current levels, we are waiting for the local alt-season at the weekend.
As always have a blessed day ahead, and remember this is not traditional investment advice, must not be considered as financial advice or recommendation. Must do your own research. #decryptedge
DKripto King is inviting you to a scheduled Zoom meeting.
Topic: *DIGITIZATION SHIFT ..... WHERE ARE YOU?*
Time: *Nov 14, 2020 09:55 AM Nairobi*
TODAY on *BITCOIN101* - Let's learn about...
*-#Emotion — the enemy of every Investor/Trader* when it comes to managing your cryptocurrency portfolio.
*- Crypto-Markets news and updates.*
*- Open Q & A session.*
Join Zoom Meeting
https://us02web.zoom.us/j/86739321353?pwd=UDNnUjh6bXNTbXUyWWhKQ1d6dVdCUT09
Meeting ID: 867 3932 1353
Passcode: BITCOIN101
Topic: *DIGITIZATION SHIFT ..... WHERE ARE YOU?*
Time: *Nov 14, 2020 09:55 AM Nairobi*
TODAY on *BITCOIN101* - Let's learn about...
*-#Emotion — the enemy of every Investor/Trader* when it comes to managing your cryptocurrency portfolio.
*- Crypto-Markets news and updates.*
*- Open Q & A session.*
Join Zoom Meeting
https://us02web.zoom.us/j/86739321353?pwd=UDNnUjh6bXNTbXUyWWhKQ1d6dVdCUT09
Meeting ID: 867 3932 1353
Passcode: BITCOIN101
Thoughts on the market for 16.11.2020: #Money Reimagined: The US’ Kodak Moment-In the lore of #digital disruption, Eastman #Kodak Co.’s downfall looms large.
The weekend passed calmly, noting that it has not happened for a long time. Bitcoin moved within the range of 16100-15800. A correction below $15800 was quickly redeemed, attempts to gain a foothold above 16K also did not lead to success either. Currently trading around $15950 with a dominance index of 64.9%. Total crypto-market capitalization of $455 billion.
Growth in foreign markets. S&P 500 futures are at 3608, gold is approaching 1900, while the dollar index is falling. Obviously, the market is expecting a repeat of last Monday's story, when the news of a successful PFIZER vaccine shot up the markets to highs. This week there will be the results of tests of the vaccine from MODERNA, and there is information that the results are at least as good.
Don't forget - the CEO of #PFIZER sold his shares just last Monday, after the news about the vaccine was released. Would he do this in anticipation of billions of dollars in orders for a successful vaccine and huge profits in the near future? I wouldn't. He knows better than others how things are with the vaccine in reality.
The main risks that can collapse the market are the negative on the vaccine (it does not work or will not be released soon), the aggravation of the situation around the election results (inability to take stock), the introduction of quarantines and restrictions in the world's leading economies, primarily in the United States. Biden is stricken with coronpsychosis and may well do it. But before taking office, he does not have such opportunities, and the entry will only be on January 20 (and this is in case the election results are successfully summed up).
Interesting comparison on #Kodak and #US on matters digital currency shift. #Kodak was once one of the world’s most powerful companies. But it failed to act on digital cameras and online photo sharing, despite seeing the trends years before. (Kodak engineer Steve Sasson created the first digital camera in 1975.) It’s an apt story to remember now as the digital money revolution rolls ahead at a time of momentous political transition. An incoming U.S. presidential administration faces an analogous situation: knowledge of what is happening but, currently, a lack of will to act.
Does China’s digital currency pose a threat to U.S. global economic leadership and the dollar’s dominance? Are U.S. leaders acting as Kodak’s were thought to have, with their heads rammed into the sand? CoinDesk columnist JP Koning’s answer to that would be, “No. Relax.” Full story & Source | coindesk.com
#Bitcoin did not hold above 16K, but it could not fail below 15,800, even on the thin weekend market. For the last 10 hours, bitcoin has not gone above 16K, (at the time of writing this review), it is pressed to the lower border of the range. Altcoins not only do not grow, but also lose their positions.
Two possible scenarios, both imply a correction of Bitcoin in the area of 15500-14800, the only question is whether there will be an update of the highs or an attempt to do it. This picture remains relevant today: If the first option is implemented and Bitcoin returns above 16K, altcoins will also come to life. Correction in this case will be from the area 16600-16800.
The second option is a correction from the current levels to the area of 15500-14800.
In favor of further growth - the growing interest of large players, the falling dollar index, the incomplete market cycle (Bitcoin has grown, alt-coins are yet to rally. .
The weekend passed calmly, noting that it has not happened for a long time. Bitcoin moved within the range of 16100-15800. A correction below $15800 was quickly redeemed, attempts to gain a foothold above 16K also did not lead to success either. Currently trading around $15950 with a dominance index of 64.9%. Total crypto-market capitalization of $455 billion.
Growth in foreign markets. S&P 500 futures are at 3608, gold is approaching 1900, while the dollar index is falling. Obviously, the market is expecting a repeat of last Monday's story, when the news of a successful PFIZER vaccine shot up the markets to highs. This week there will be the results of tests of the vaccine from MODERNA, and there is information that the results are at least as good.
Don't forget - the CEO of #PFIZER sold his shares just last Monday, after the news about the vaccine was released. Would he do this in anticipation of billions of dollars in orders for a successful vaccine and huge profits in the near future? I wouldn't. He knows better than others how things are with the vaccine in reality.
The main risks that can collapse the market are the negative on the vaccine (it does not work or will not be released soon), the aggravation of the situation around the election results (inability to take stock), the introduction of quarantines and restrictions in the world's leading economies, primarily in the United States. Biden is stricken with coronpsychosis and may well do it. But before taking office, he does not have such opportunities, and the entry will only be on January 20 (and this is in case the election results are successfully summed up).
Interesting comparison on #Kodak and #US on matters digital currency shift. #Kodak was once one of the world’s most powerful companies. But it failed to act on digital cameras and online photo sharing, despite seeing the trends years before. (Kodak engineer Steve Sasson created the first digital camera in 1975.) It’s an apt story to remember now as the digital money revolution rolls ahead at a time of momentous political transition. An incoming U.S. presidential administration faces an analogous situation: knowledge of what is happening but, currently, a lack of will to act.
Does China’s digital currency pose a threat to U.S. global economic leadership and the dollar’s dominance? Are U.S. leaders acting as Kodak’s were thought to have, with their heads rammed into the sand? CoinDesk columnist JP Koning’s answer to that would be, “No. Relax.” Full story & Source | coindesk.com
#Bitcoin did not hold above 16K, but it could not fail below 15,800, even on the thin weekend market. For the last 10 hours, bitcoin has not gone above 16K, (at the time of writing this review), it is pressed to the lower border of the range. Altcoins not only do not grow, but also lose their positions.
Two possible scenarios, both imply a correction of Bitcoin in the area of 15500-14800, the only question is whether there will be an update of the highs or an attempt to do it. This picture remains relevant today: If the first option is implemented and Bitcoin returns above 16K, altcoins will also come to life. Correction in this case will be from the area 16600-16800.
The second option is a correction from the current levels to the area of 15500-14800.
In favor of further growth - the growing interest of large players, the falling dollar index, the incomplete market cycle (Bitcoin has grown, alt-coins are yet to rally. .
In favor of the fall - the fear index has been holding at its highs for a long time, such situations always end in a significant fall. Also in stock, the FUD bears from China regarding the situation with Okex and Huobi can also work out the topic with confiscated Bitcoins worth 1 billion.If this is presented in a quality manner, then we shall see 14K, given that after a long period of recoilless growth, the quality of the audience. How it works, read the early post on : Bad times give birth to strong people. Strong people give birth to good times. Good times breed weak people.
Weak people give birth to bad times. I consider the option with one more entry above 16K and an attempt to update the highs to be more likely, followed by a correction. The price level to watch: #CME GAP near $16275.
As always, have a blessed week ahead. Remember must do your own research; this is not traditional investment of financial advice. #decryptedge
Weak people give birth to bad times. I consider the option with one more entry above 16K and an attempt to update the highs to be more likely, followed by a correction. The price level to watch: #CME GAP near $16275.
As always, have a blessed week ahead. Remember must do your own research; this is not traditional investment of financial advice. #decryptedge
Thoughts on the market for 17.11.2020: How Timely, Banks Now are Bitcoin Experts! "Bitcoin at $318,000 Next December?" One #Citibank Exec Says It’s Possible.
#Bitcoin not only returned above 16000, but also set a new high above 16800. Total Crypto-Market capitalization is now at $475 billion and #BTC dominance index is 65.0%.
In the financial markets, the situation repeated similar to a week ago, the markets reacted positively to the news about the vaccine from #PFIZER as well as from #MODERNA. The Dow Jones peaked, the S&P 500 rose 1.1% to close at 3626.91, and the Nasdaq rose by 0.55%. Futures on the S&P 500 are now in a slight minus, the dollar index is already below 92.5, gold is growing slightly.
This was in reaction to news of the effectiveness of Moderna vaccine, which was 94.5% effective in trials. The news of the appearance of the second effective vaccine remains optimistic in the markets, despite the increase in the incidence of coronavirus, the uncertainty with the summing up of the election results and the lack of clear prospects for the support aid package. The situation can change just as quickly if it turns out that they will not be able to use the vaccine soon, or everything is not as good with it as announced. After all, Biden, with corona-psychosis, which could close the economy, will be sworn in on January 20.
#Bitcoin has completely fulfilled yesterday's review. It went above 16K and successfully updated the highs. The last resistance at 16800-17000 remained before the breakthrough to ATH, but I think that a pullback to 16500 is more likely now. If we go lower and return to the range of 16200-15800, there will be consolidation before taking a shot at 17K. Departure below 15800 - transition to full correction.
I consider the priority option to consolidate in the range of 16500-16800 before the American session, then either in this range and stay, or move to a floor below (16200-15800), followed by a transition to a correction towards 15500-14800. This will be negative for altcoins, and will postpone the altseason for some time. Both options involve a Bitcoin correction, a difference in on timing. The implementation of the first option will allow you to fix a good profit on altcoins, the second option will provide an opportunity for a good entry into both Bitcoin and alts. In general, an attempt to update the ATH on Bitcoin before the end of the year is becoming more and more likely. It is not a fact that it will immediately be successful, there are powerful resistances ahead at 16800-17000, and then before 20K, but an attempt is already good, because the main thing is to start. For instance 10500 resistance was active for a whole year.
Before that, I do not exclude one more attempt to take 17K.
Banks are now experts in Bitcoin how interesting: #Coinsdesk's @Nathaniel Whittemore has a podcast breaking down a recent Citibank report that has Bitcoin Twitter salivating and skeptical at the same time. If interested ask for the link.
Nonetheless in closing #Altcoins are crushed by #bitcoin dominance, only #Litecoin is growing. If #Bitcoin stays above 16,500, #Ethereum and #BNB are likely to rise. As always remember this is not traditional investment advice and ought not to be taken as financial advice. Must do your own research. #decryptedge
#Bitcoin not only returned above 16000, but also set a new high above 16800. Total Crypto-Market capitalization is now at $475 billion and #BTC dominance index is 65.0%.
In the financial markets, the situation repeated similar to a week ago, the markets reacted positively to the news about the vaccine from #PFIZER as well as from #MODERNA. The Dow Jones peaked, the S&P 500 rose 1.1% to close at 3626.91, and the Nasdaq rose by 0.55%. Futures on the S&P 500 are now in a slight minus, the dollar index is already below 92.5, gold is growing slightly.
This was in reaction to news of the effectiveness of Moderna vaccine, which was 94.5% effective in trials. The news of the appearance of the second effective vaccine remains optimistic in the markets, despite the increase in the incidence of coronavirus, the uncertainty with the summing up of the election results and the lack of clear prospects for the support aid package. The situation can change just as quickly if it turns out that they will not be able to use the vaccine soon, or everything is not as good with it as announced. After all, Biden, with corona-psychosis, which could close the economy, will be sworn in on January 20.
#Bitcoin has completely fulfilled yesterday's review. It went above 16K and successfully updated the highs. The last resistance at 16800-17000 remained before the breakthrough to ATH, but I think that a pullback to 16500 is more likely now. If we go lower and return to the range of 16200-15800, there will be consolidation before taking a shot at 17K. Departure below 15800 - transition to full correction.
I consider the priority option to consolidate in the range of 16500-16800 before the American session, then either in this range and stay, or move to a floor below (16200-15800), followed by a transition to a correction towards 15500-14800. This will be negative for altcoins, and will postpone the altseason for some time. Both options involve a Bitcoin correction, a difference in on timing. The implementation of the first option will allow you to fix a good profit on altcoins, the second option will provide an opportunity for a good entry into both Bitcoin and alts. In general, an attempt to update the ATH on Bitcoin before the end of the year is becoming more and more likely. It is not a fact that it will immediately be successful, there are powerful resistances ahead at 16800-17000, and then before 20K, but an attempt is already good, because the main thing is to start. For instance 10500 resistance was active for a whole year.
Before that, I do not exclude one more attempt to take 17K.
Banks are now experts in Bitcoin how interesting: #Coinsdesk's @Nathaniel Whittemore has a podcast breaking down a recent Citibank report that has Bitcoin Twitter salivating and skeptical at the same time. If interested ask for the link.
Nonetheless in closing #Altcoins are crushed by #bitcoin dominance, only #Litecoin is growing. If #Bitcoin stays above 16,500, #Ethereum and #BNB are likely to rise. As always remember this is not traditional investment advice and ought not to be taken as financial advice. Must do your own research. #decryptedge