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
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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
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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
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Thoughts on the market for 18.11.2020: Mexico’s second-richest man invests 10% of his liquid portfolio in #Bitcoin. 166th wealthiest person in the world has revealed that he has invested in #Bitcoin.
Bitcoin surpassed expectations, successfully consolidated above 17000, and renewed new highs around 17890. After that, it moved to consolidation in the range of 17500-17800.
The growth did not end there - early this morning Bitcoin updated its highs at 18520.
Bitcoin is currently trading around 18300-18400. Total Crypto-Market capitalization now at 511 billion and BTC dominance index of 66.3%.
Stock markets fell slightly yesterday. American indices lost 0.67% to 0.28%, S&P 500 closed at 3609.53. The picture of the last week repeats itself - the rapid growth on Monday on the news about the vaccine and a slight decline on Tuesday. Tesla nevertheless entered the S&P 500, which has been expected since the summer, now we are waiting for a correction to take it into this package Markets are in uncertainty and are more inclined to decline - there are no reasons for growth, the vaccine issue has been worked out, with the aid package there is uncertainty, both in its size and in the timing of its adoption. There is no clarity about the timing of summing up the election results, Trump is at the helm until January 20, but even the Republicans from whom he is nominated are against his initiatives. Trump promised not to close the economy on a national scale, but individual states may also introduce local quarantines.
Futures for the S&P 500 are now in a slight minus, the dollar index is falling, gold is also looking down. Buffett left #Apple and cut positions at gold mining Barrick Gold Corp. and entered pharmaceutical companies. Interesting, but judging by its results in 2020, following after him is not an idea. Close by, Ricardo Salinas Pliego, the second-wealthiest man in #Mexico, has revealed that 10% of his “liquid portfolio” is invested in Bitcoin (BTC). The billionaire shared a video captured in “a Latin country” depicting banks throwing out garbage bags filled with paper money into a dumpster. He asserted that “paper money is worth nothing,” adding: “That is why it is always good to diversify our investment portfolio.” The video appears to show bags of Venezuelan bolivars being thrown out, including 10,000 bolivar notes issued in 2016 and 2017 — before the country redenominated its banknotes in 2018 amid an escalating inflation crisis. Three hours later, Pliego then tweeted a recommendation for the book The Bitcoin Pattern, asserting that “Bitcoin protects the citizen from government expropriation” and revealing his cryptocurrency investment: Source | Cointelegraph
Bitcoin surpassed expectations, successfully consolidated above 17000, and renewed new highs around 17890. After that, it moved to consolidation in the range of 17500-17800.
The growth did not end there - early this morning Bitcoin updated its highs at 18520.
Bitcoin is currently trading around 18300-18400. Total Crypto-Market capitalization now at 511 billion and BTC dominance index of 66.3%.
Stock markets fell slightly yesterday. American indices lost 0.67% to 0.28%, S&P 500 closed at 3609.53. The picture of the last week repeats itself - the rapid growth on Monday on the news about the vaccine and a slight decline on Tuesday. Tesla nevertheless entered the S&P 500, which has been expected since the summer, now we are waiting for a correction to take it into this package Markets are in uncertainty and are more inclined to decline - there are no reasons for growth, the vaccine issue has been worked out, with the aid package there is uncertainty, both in its size and in the timing of its adoption. There is no clarity about the timing of summing up the election results, Trump is at the helm until January 20, but even the Republicans from whom he is nominated are against his initiatives. Trump promised not to close the economy on a national scale, but individual states may also introduce local quarantines.
Futures for the S&P 500 are now in a slight minus, the dollar index is falling, gold is also looking down. Buffett left #Apple and cut positions at gold mining Barrick Gold Corp. and entered pharmaceutical companies. Interesting, but judging by its results in 2020, following after him is not an idea. Close by, Ricardo Salinas Pliego, the second-wealthiest man in #Mexico, has revealed that 10% of his “liquid portfolio” is invested in Bitcoin (BTC). The billionaire shared a video captured in “a Latin country” depicting banks throwing out garbage bags filled with paper money into a dumpster. He asserted that “paper money is worth nothing,” adding: “That is why it is always good to diversify our investment portfolio.” The video appears to show bags of Venezuelan bolivars being thrown out, including 10,000 bolivar notes issued in 2016 and 2017 — before the country redenominated its banknotes in 2018 amid an escalating inflation crisis. Three hours later, Pliego then tweeted a recommendation for the book The Bitcoin Pattern, asserting that “Bitcoin protects the citizen from government expropriation” and revealing his cryptocurrency investment: Source | Cointelegraph
Yesterday's analysis for the correction of Bitcoin from the resistance area of 16800-17200 did not come true. #Bitcoin easily passed these resistances, 17500 were taken outright, and the high was updated to 18520 (at the time of writing this review), these levels have not been seen since December 2017. Altcoins are crushed by Bitcoin's dominance, and the dominance index has risen again. So far Etherum cannot take 500, although it is close to it, Litecoin holds the positions reached earlier, ChanLink broke through an important resistance. Crypto-Market capitalization has taken an important level of $ 500 billion. The priority scenario is the stabilization of Bitcoin in the range of 18500-17800 and the growth of altcoins. After fixing Etherum above 500, the alt season can be considered open. The market correction in this case will be after the growth of alt-coins, i.e. after the end of the standard market cycle. If there is no force majeure, capitalization can reach the levels of 550-570 billion within a week.
Such a positive scenario may be hampered by the emergence of some kind of FUD, the topic with Chinese exchanges has not yet worked. If Bitcoin drops below 17800 today, the alt season will be temporarily postponed. But this is an alternative (non-priority) scenario.
In closing since BTC passed $16750/17200 and that was the last reversal area, time for an update for reversal zones:
$18500 (Whales trick, BTC dumped from it by $1300 = - 7%!!)
$19650
$21500 (breakout)
$23500
$26300
$30000 (ATH)
$40000 (FOMO)
As always wishing you a blessed day ahead, and remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Such a positive scenario may be hampered by the emergence of some kind of FUD, the topic with Chinese exchanges has not yet worked. If Bitcoin drops below 17800 today, the alt season will be temporarily postponed. But this is an alternative (non-priority) scenario.
In closing since BTC passed $16750/17200 and that was the last reversal area, time for an update for reversal zones:
$18500 (Whales trick, BTC dumped from it by $1300 = - 7%!!)
$19650
$21500 (breakout)
$23500
$26300
$30000 (ATH)
$40000 (FOMO)
As always wishing you a blessed day ahead, and remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Thoughts on the market for 19.11.2020:
After reaching a high of about 18500 during the day, #Bitcoin declined several times to 17500, with brief corrections to $17200. After confirming support at 17500, bitcoin now trades in the range of 17700-18000. Total Crypto Market capitalization at $503 billion and #BTC dominance index of 66.4%
Stock markets were down yesterday. The S&P 500 closed at 3567.79, losing 1.16%, the Dow Jones lost the same amount, the Nasdaq lost 0.82%.
The picture is the same - the news about the vaccine has already worked out, there is no new positive, and the markets are near highs. There are few chances for the adoption of the support package; Republicans and Democrats are far from being able to agree. In such a situation, the decline in markets is quite logical, and if there is no positive, then this is the most likely scenario for today.
Futures on the S&P 500 are now in a slight minus, the dollar index rose slightly and is trading around 92.45, oil and gold are declining. After a strong growth in the last 48hrs, #Bitcoin has consolidated and determined with the support level. The lower border of the trading range was marked at 17550-17500. This level was confirmed twice, all corrections below were immediately redeemed. #Bitcoin is now trying to get back above 18000, so far without success.
The key question now is what will happen to #altcoins?
Bitcoin in place - alts are growing, or is Bitcoin going below 17000-16800 and altcoins are breaking through the bottom?
I consider the first option a priority. Bitcoin only needs to hold above 17800 and an alt season is inevitable. Above 18000 is even better.
To start the alt season, you need not grow (Bitcoin has already shown it, and to levels where hardly anyone expected to see it), but stability is key.
For the second day, Bitcoin is above 17K, at these levels it has been for a few days throughout its existence. Therefore, it is logical that most market participants do not believe that it is here for a long time and expect it to fall. Realizing what will happen to the alts in the event of a fall in Bitcoin, market participants have not yet entered them. But if Bitcoin holds at its current levels today or tomorrow, and goes over the weekend above 17500 (or better above 17800), the alt season is inevitable.
The capitalization level of 500 billion was taken again, although not yet confidently. To consolidate the success of Bitcoin, you just need to hold the current levels.
The option "Bitcoin is holding in the range of 17500-18000 (possibly fixing above 18000), and altcoins moving to growth" I consider a priority.
An alternative scenario is the departure of Bitcoin below 17500, which, in the event of a significant #FUD, may bring it below 16800. Then the option with an altcoin season is postponed for some time.
Interestingly, #Skype founder Jaan Tallinn said that he keeps a significant part of his fortune in Bitcoins. Here is the second person on Mexico's billionaire list to do the same. TLDR Breakdown|
Skype founder told Fortune in an interview that he stored most of his wealth in #Bitcoin.
Jaan Tallinn, the co-founder of Intercom and the communication app, was keen to support the #cryptocurrency in public.
At the beginning of the year, the telecommunications genius gave away around $300,000 of Bitcoin to fund a project dealing with the issues of AI. Source | https://www.cryptopolitan.com/
We have long been talking about the fact that wealthy people and successful companies - those who think faster than the crowd - have long been entering Bitcoin on a large scale, here is another confirmation.
As always this is not your traditional investment or financial advice. Must do your own research.
@decryptedge #decryptedge
After reaching a high of about 18500 during the day, #Bitcoin declined several times to 17500, with brief corrections to $17200. After confirming support at 17500, bitcoin now trades in the range of 17700-18000. Total Crypto Market capitalization at $503 billion and #BTC dominance index of 66.4%
Stock markets were down yesterday. The S&P 500 closed at 3567.79, losing 1.16%, the Dow Jones lost the same amount, the Nasdaq lost 0.82%.
The picture is the same - the news about the vaccine has already worked out, there is no new positive, and the markets are near highs. There are few chances for the adoption of the support package; Republicans and Democrats are far from being able to agree. In such a situation, the decline in markets is quite logical, and if there is no positive, then this is the most likely scenario for today.
Futures on the S&P 500 are now in a slight minus, the dollar index rose slightly and is trading around 92.45, oil and gold are declining. After a strong growth in the last 48hrs, #Bitcoin has consolidated and determined with the support level. The lower border of the trading range was marked at 17550-17500. This level was confirmed twice, all corrections below were immediately redeemed. #Bitcoin is now trying to get back above 18000, so far without success.
The key question now is what will happen to #altcoins?
Bitcoin in place - alts are growing, or is Bitcoin going below 17000-16800 and altcoins are breaking through the bottom?
I consider the first option a priority. Bitcoin only needs to hold above 17800 and an alt season is inevitable. Above 18000 is even better.
To start the alt season, you need not grow (Bitcoin has already shown it, and to levels where hardly anyone expected to see it), but stability is key.
For the second day, Bitcoin is above 17K, at these levels it has been for a few days throughout its existence. Therefore, it is logical that most market participants do not believe that it is here for a long time and expect it to fall. Realizing what will happen to the alts in the event of a fall in Bitcoin, market participants have not yet entered them. But if Bitcoin holds at its current levels today or tomorrow, and goes over the weekend above 17500 (or better above 17800), the alt season is inevitable.
The capitalization level of 500 billion was taken again, although not yet confidently. To consolidate the success of Bitcoin, you just need to hold the current levels.
The option "Bitcoin is holding in the range of 17500-18000 (possibly fixing above 18000), and altcoins moving to growth" I consider a priority.
An alternative scenario is the departure of Bitcoin below 17500, which, in the event of a significant #FUD, may bring it below 16800. Then the option with an altcoin season is postponed for some time.
Interestingly, #Skype founder Jaan Tallinn said that he keeps a significant part of his fortune in Bitcoins. Here is the second person on Mexico's billionaire list to do the same. TLDR Breakdown|
Skype founder told Fortune in an interview that he stored most of his wealth in #Bitcoin.
Jaan Tallinn, the co-founder of Intercom and the communication app, was keen to support the #cryptocurrency in public.
At the beginning of the year, the telecommunications genius gave away around $300,000 of Bitcoin to fund a project dealing with the issues of AI. Source | https://www.cryptopolitan.com/
We have long been talking about the fact that wealthy people and successful companies - those who think faster than the crowd - have long been entering Bitcoin on a large scale, here is another confirmation.
As always this is not your traditional investment or financial advice. Must do your own research.
@decryptedge #decryptedge
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