DeFi Yield Farming - Decentralized Finance
Very informative video from Crypto Mom!
More DeFi Yield Farming Videos here
DeFi Yield Farming - Decentralized Finance was originally published here https://amyjimenez0.blogspot.com/2021/05/defi-yield-farming-decentralized-finance.html
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Ethereum On The Verge of 15% Upswing
Ethereum On The Verge of 15% Upswing Ethereum On The Verge of 15% Upswing The weekend session was not generating for several cryptocurrencies, consisting of Bitcoin, Ethereum, as well as Ripple. The bulk of the cryptoasset spiraled further, proceeding with last week’s bearish impulses. Bitcoin stopped working to hold over the assistance at $45,000 and also expanded the bearish leg to $43,000. The biggest altcoin, Ethereum, sliced with the support at $1,400 as well as discovered the levels partially listed below $1,300. On the various other hand, XRP revisited the assistance at $0.4 before renewing the uptrend towards $0.5. The remainder of the cryptocurrency market is flipping bullish, particularly led by altcoins such as Binance Coin (up 19%), Aave (up 20%), Solana (up 19%), Maker up (18%), Fantom (up 32%) as well as Ravencoin (up 20%). According to Tyler Tysdal, Bitcoin miner and business broker, “Cryptocurrencies are a hedge to inflation similar to gold because of the economic scarcity. Governments can print more fiat currency like the dollar, but there is a finite amount of Bitcoin. For this reason, in investing portfolio theory, I believe in holding at least 1% in crypto.” Bitcoin is supporting an uptrend after the development of a dropping wedge pattern on the 4-hour graph. The bullish pattern enters the picture when an asset’s relentless downtrend nears the end. It is developed using 2 trendlines connecting successive decreasing heights and a series of lower lows. As the cost nears the pattern’s peak, the volume minimizes, restricting the bears’ initiative. At the very same time, purchasers obtain all set to take control. An outbreak typically occurs before the trendline meet. Bitcoin has actually already broken above the top trendline, verifying a 16% growth to $54,000. This favorable outlook has been enhanced by the Moving Average Convergence Divergence (MACD), recently turned bullishly. It deserves stating that resistance is expected at the 100 Simple Moving Average (SMA), presently at $49,440, as well as the 50 SMA holding at $50,000. If bulls fail to damage over this level, a modification might take priority towards $43,000. Ethereum has created the same dropping wedge pattern as Bitcoin, aiming at a 15% upswing to 1,650. At the time of composing, Ether is exchanging hands at $1,522 as bulls challenge the overhanging pressure at $1,530. The Relative Strength Index (RSI) exposes that the fad remains in the bulls’ hands after tipping over the midline. Moving closer to the overbought area may cause more buy orders, maybe produce enough volume for gains looking at $2,000. On the benefit, a favorable signal will certainly be to trade past $1,530 (instant resistance) and expanding the up leg past $1,600. On the other hand, it is important to maintain in mind that Ethereum have to develop support above $1,500 to prevent prospective losses. On the drawback, the next tentative assistance is $1,400, however if the bearish leg stretches, ETH will certainly retest $1,200. The cross-border token manage the resistance at the 23.6% Fibonacci retracement level adhering to a rebound from $0.4. Trading yet zone leaves XRP with outdoor to discover toward the essential obstacle at $0.47, a convergence highlighted by the 38.2% Fibo, the 200 SMA, and the 100 SMA. The MACD seals XRP’s gradual bullish momentum as it moves closer to the mean line. The MACD line (blue) has actually crossed above the signal line, indicating a favorable impulse. Ripple will certainly desert the favorable narrative if the resistance at the 23.6% Fibo falls short to pave the way. Closing the day under this zone could open up the Pandora box as substantial sell orders are caused. Examining the support at $0.4 again could lead the way for another drop-off, considering $0.35 as well as $0.3, specifically. BEES.Social Bringing Fee Crypto CourseA new crypto community, BEES.Social, is bringing an outstanding educational series to the public for free. Check that out their crypto course here or watch this video below for a preview.
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Ledger Nano X Reviews – Most Reliable Cryptocurrency Hardware Wallet
Ledger Nano X Reviews – Most Reliable Cryptocurrency Hardware Wallet Ledger Nano X Reviews – The Top Crypto Hardware Wallet Featuring Bluetooth Security – Secure and Manage Your Bitcoin, Ethereum, ERC Cryptocurrencies https://link.ws/crypto1 Slick and basic, very simple to use, terrific worth and shipping was really quick. The very first hardware Wallet i bought, it is worth the money. It small appearance similar to a regular usb Easy to use, really security, just you own your private secret. Regrettably the journal live app does not support the ADA wallet yet. Ideally it will update soon. Ledger Nano X Reviews – Easiest to Use Crypto Hardware Wallet – Secure and Manage Your Bitcoin, ERC Tokens https://youtu.be/mwXu90em9MA Best way to keep cryptos safe in your own hands off the network. Ledger Nano X was quick to transfer my bitcoin, Ethereum, and bitcoin cash. took a bit to set up but that is just me. I feel much better not having my crypto on an exchange or the internet in basic. Ledger Nanon X Security functions are fantastic. The mobile app is user friendly too, I also utilize a mac desktop. Never ever required tech assistance. Terrific device for saving bitcoin and other online assets. It bores to set up at first, but this is to safeguard you and what might be a big amount of cash with Ledger Nano X. I have never had any issues getting or sending out coins. Its only difficult to use if you cant make the effort to read a little handbook for the Ledger Nano. Cryptocurrency News https://newsarrivals.com/category/cryptocurrency/ Click on this link to register for our free Beginners Crypto Lessons #cryptocurrency #cryptohardwarewallet What Is BEES.Social https://vimeopro.com/beessocial/cryptocurrency-course/video/508116498 Cryptocurrency wallet Watch more Cryptocurrency Hardware Wallet Reviews: https://www.youtube.com/watch?v=PIaEg1EqNYk As an Amazon and Ledger Partner I earn from qualifying purchases. Thank you for supporting me. Ledger Nano X Reviews – Most Reliable Cryptocurrency Hardware Wallet was originally published here https://allthetopnews.wordpress.com/2021/02/17/ledger-nano-x-reviews-most-reliable-cryptocurrency-hardware-wallet/ Ledger Nano X Reviews – Most Reliable Cryptocurrency Hardware Wallet was originally published here https://amyjimenez0.blogspot.com/2021/02/ledger-nano-x-reviews-most-reliable.html
NFT ‘art revolution’: Beeple on his 5040 day labor of love
NFT ‘art revolution’: Beeple on his 5040 day labor of love NFT ‘art revolution’: Beeple on his 5040 day labor of love
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Is a retail frenzy causing the Bitcoin futures markets’ excessive leverage?
Is a retail frenzy causing the Bitcoin futures markets’ excessive leverage? Is a retail frenzy causing the Bitcoin futures markets’ excessive leverage? Bitcoin (BTC) breached the $50,000 level on Feb. 16. But while failing to cleanly break the psychological barrier, it undoubtedly displayed the potential for even higher valuations. Meanwhile, futures and options indicators are misaligned, signaling excessive buyers’ leverage, while options markets remain calm. After analyzing both markets, one might theorize what has caused this apparent incongruence. Options skew remained neutral-to-positiveWhen analyzing options, the 25% delta skew is the single-most relevant gauge. This indicator compares similar call (buy) and put (sell) options side by side. It will turn negative when the put options premium is higher than similar-risk call options. A negative skew translates to a higher cost of downside protection, indicating bullishness. The opposite holds when market makers are bearish, causing the 25% delta skew indicator to gain positive ground.
A skew indicator between -10% (slightly bullish) and +10% (somewhat bearish) is considered normal. Over the past three months, there hasn’t been a single occurrence of a 10% or higher 30-day skew, which is usually considered a bearish event. This data is very encouraging, considering that Bitcoin saw a 24% correction on Jan. 11, in addition to a 19% sell-off 10 days later. Yet, there is no evidence that options traders demanded more significant premiums for downside protection. Futures premium held excessive-optimistic levelsBy measuring the expense gap between futures and the regular spot market, a trader can gauge the level of bullishness in the market. The three-month futures usually trade with a 6% to 20% annualized premium (basis) versus regular spot exchanges. Whenever this indicator fades or turns negative, this is an alarming red flag. This situation is known as “backwardation” and indicates that the market is turning bearish. On the other hand, a sustainable basis above 20% signals excessive leverage from buyers, creating the potential for massive liquidations and eventual market crashes.
The above chart shows that the indicator bottomed at 1.5% on Jan. 27 but later reverted to 4.5% and higher as Bitcoin rebounded above $35,000. Even during its darkest periods, the futures premium held above 10% annualized rate, indicating optimism from professional traders. Meanwhile, the current 5.5% level, equivalent to a 50% annualized rate, indicates excessive buyers’ leverage. Perpetual futures (inverse swaps) could be the root of this issue, and retail traders more widely use those contracts.
Take notice as the funding rate has exceeded 2.5% per week, thus more than compensating the 50% annualized premium of the March contracts. Therefore, arbitrage desks and market makers are likely happy to pay such a hefty premium on fixed-month contracts while simultaneously shorting the perpetual future and profit from the rate difference. To conclude, this movement perfectly explains why options markets are relatively neutral while futures markets show excessive buyers’ leverage. While institutional clients and whales dominate options volumes, retail traders seem to be the root of such a mismatch. author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision. Title: Is a retail frenzy causing the Bitcoin futures markets’ excessive leverage?
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Is a retail frenzy causing the Bitcoin futures markets’ excessive leverage? Is a retail frenzy causing the Bitcoin futures markets’ excessive leverage? was originally published here https://allthetopnews.wordpress.com/2021/02/16/is-a-retail-frenzy-causing-the-bitcoin-futures-markets-excessive-leverage/ Is a retail frenzy causing the Bitcoin futures markets’ excessive leverage? was originally published here https://amyjimenez0.blogspot.com/2021/02/is-retail-frenzy-causing-bitcoin.html
Ledger Nano X Reviews – The Top Cryptocurrency Hardware Wallet Featuring Bluetooth Security
Ledger Nano X Reviews – The Top Cryptocurrency Hardware Wallet Featuring Bluetooth Security Ledger Nano X Reviews – Easiest to Use Crypto Hardware Wallet With Secure Bluetooth – Secure and Manage Your Bitcoin, ERC Coins https://link.ws/crypto2 Slick and easy, extremely simple to utilize, excellent value and shipping was extremely quickly. The first hardware Wallet i purchased, it deserves the cash. It small appearance just like a normal usb Easy to use, really security, just you own your private secret. Regrettably the journal live app does not support the ADA wallet yet. Hopefully it will update soon. Ledger Nano X Reviews – Simplest Crypto Hardware Wallet Featuring Secure Bluetooth – Secure and Manage Your Bitcoin, ERC Crypto https://storage.googleapis.com/cryptocurrencywallets/index.html Finest way to keep cryptos safe in your own hands off the network. Ledger Nano X was quick to transfer my bitcoin, Ethereum, and bitcoin money. took a bit to establish but that is just me. I feel much better not having my crypto on an exchange or the web in general. Ledger Nanon X Security features are fantastic. The mobile app is easy to use too, I likewise use a mac desktop. Never needed tech support. Fantastic gadget for keeping bitcoin and other online properties. It is tedious to establish initially, but this is to protect you and what could be a big quantity of cash with Ledger Nano X. I have never ever had any issues getting or sending coins. Its only tough to use if you cant take the time to check out a little manual for the Ledger Nano. Click on this link to register for our complimentary Beginners Crypto Lessons #cryptocurrency #cryptohardwarewallet What Is BEES.Social https://vimeopro.com/beessocial/cryptocurrency-course/video/508116498 Cryptocurrency wallet Watch more Crypto Hardware Wallet Reviews: https://www.youtube.com/watch?v=ggvZ_mKEMe4 As an Amazon and Ledger Associate I earn from certifying purchases. Thank you for supporting us. Ledger Nano X Reviews – The Top Cryptocurrency Hardware Wallet Featuring Bluetooth Security was originally published here https://allthetopnews.wordpress.com/2021/02/16/ledger-nano-x-reviews-the-top-cryptocurrency-hardware-wallet-featuring-bluetooth-security/ Ledger Nano X Reviews – The Top Cryptocurrency Hardware Wallet Featuring Bluetooth Security was originally published here https://amyjimenez0.blogspot.com/2021/02/ledger-nano-x-reviews-top.html
Bitcoin hits $50,000 a new historic milestone for BTC price
Bitcoin hits $50,000 a new historic milestone for BTC price Bitcoin hits $50,000 a new historic milestone for BTC price Bitcoin (BTC) surged to new all-time highs on Feb. 16 following a week of bullish news including Tesla accepting BTC and MicroStrategy planning to raise another $600 million to buy Bitcoin.
BTC price breaks historical recordData from Cointelegraph Markets and TradingView showed BTC/USD climb over 5% in hours on Tuesday days after BNY Mellon confirmed that it would store crypto for asset management clients and rumors also swirled around Morgan Stanley. The move put Bitcoin on course to hit the psychologically significant $50,000 mark once again after several days of sideways movement as a tussle between whales emerged. Bulls had initially taken control of BTC after Tesla’s $1.5 billion Bitcoin buy-in which it revealed on Feb. 8. At the same time, the European Central Bank was among the naysayers who claimed that central banks as a whole would not interact with Bitcoin in future. More headaches for bearsIn an update, analysts at derivatives platform Deribit noted that the BNY Mellon news had already managed to reshape investor perspectives. “While BTC pulled back 10% from ATH, Feb Implied Vol pruned, suggesting gamma impacted players flat-long post-Tesla news,” they stated. “Options volumes exploded in Asian hours: Calls unwound, buyers near-OTM Puts x3k, bearish bias as BTC46k.” Sellers were lined up between $49,500 and $50,000, according to orderbook data from major exchange Binance, with increasing support at $46,500.
In analysis this week, Cointelegraph Markets’ Michaël van de Poppe highlighted other factors contributing to the bull case for Bitcoin in the short term. n inevitable achievement Bitcoin had shown signs that its overall momentum would not be halted throughout this month. With Tesla and then Mastercard as catalysts, market participants were already convinced of the strength of its current bull run. Last week, Cointelegraph Markets contributor filbfilb gave a short-term target of $63,000 for BTC/USD, being checked by a possible consolidation at around $52,000. Tesla’s buy and Mastercard’s acceptance announcement was made public days after MicroStrategy’s dedicated Bitcoin for Corporations summit attracted an audience of around 8,000 executives. While Tesla made arrangements months previously, the implications of the event were clear — companies wanted and planned to add Bitcoin to their balance sheets. Even formerly skeptical mainstream commentators were more and more in favor of Bitcoin outperforming cash as a treasury asset in the long term. “I think it’s almost irresponsible not to include it — every treasurer should be going to boards of directors and saying, ‘Should we put a small portion of our cash in Bitcoin?’” CNBC host Jim Cramer said last week. In private comments, Simon Peters, cryptoasset analyst at multi-asset investment platform eToro, forecast $70,000 hitting in 2021. “While we may see short-term upside in the price of bitcoin and other cryptoassets as a result of this, Mastercard’s announcement – coming so soon after Tesla’s own comments earlier this week – has real long-term implications for bitcoin and its peers,” he said. “Bitcoin and its peers are, quite simply, going to be part of the mainstream financial universe sooner rather than later. I expect demand to surge and see bitcoin prices hitting at least $70,000 by the end of this year.”Title: Bitcoin hits $50,000 a new historic milestone for BTC price
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Bitcoin hits $50,000 a new historic milestone for BTC price Bitcoin hits $50,000 a new historic milestone for BTC price was originally published here https://allthetopnews.wordpress.com/2021/02/16/bitcoin-hits-50000-a-new-historic-milestone-for-btc-price/ Bitcoin hits $50,000 a new historic milestone for BTC price was originally published here https://amyjimenez0.blogspot.com/2021/02/bitcoin-hits-50000-new-historic.html
Ethereum fundamentals signal $2,000 ETH price is closer than it seems
Ethereum fundamentals signal $2,000 ETH price is closer than it seems Ethereum fundamentals signal $2,000 ETH price is closer than it seems In the early hours of Feb. 15, Ether (ETH) price plunged to $1,660, followed by a 9% recovery within 10 hours. The move triggered $280 million in futures contracts liquidations, indicating excessive leverage from longs. Although the initial anxiety regarding CME’s ETH futures launch on Feb. 8 seems to have faded, sustained excessive transaction fees might have undermined investors’ confidence. Nevertheless, the fundamentals behind Ethereum remain solid, indicating ETH price should promptly recover from eventual dips.
Even though the above metric might be interpreted positively, not every user can afford a $12 fee. A simple token swap on decentralized exchanges (DEX) can cost hundreds of dollars in gas fees, leaving small traders no choice but to abandon the network. Multiple proponents are testing sharding and layer-two solutions to circumvent this issue, including Skale and Optimistic Network. Eth2 will use sharding to split the blockchain into several parts and increase the number of transactions the network can process at once. Total value locked remains in an uptrendThe phenomenal growth of total value locked (TVL) in decentralized finance projects can’t be disregarded. The adjusted metric attempts to clean readings from ETH price increases, therefore providing more reliable data.
As depicted above, the 34% increase over the past 30 days falls in line with ETH’s 38% gain in February. Regardless of the transaction fees, there is still value created by automated market-making pools and staking mechanisms. To better understand whether the recent crash reflects a potential local top and subsequent downtrend movement, one needs further data. Besides price action and technical analysis, investors should also gauge on-chain metrics such as network use. An excellent place to start is analyzing transactions and transfer value.
Coin Metrics data shows the 14-day average transactions and transfers rallying above $9 billion in daily transactions, a 32% increase from the previous month. This significant increase in transaction and transfer value signals strength and suggests that Ether’s price is sustainable at the current levels. Exchange withdrawals indicate long-term holdingAlthough there is no consensus among analysts on the short-term price impact of exchange withdrawals, its effect is either neutral or bullish. The opposite movement, large continuous inflows, is the only bearish scenario, as it indicates holders’ willingness to sell.
From Jan. 1 to Feb. 15, roughly 600,000 ETH was withdrawn from exchanges. Regardless of if whales are transferring to cold wallets or putting Ether into the DeFi ecosystem, those coins are less likely to be sold in the short term. Considering this movement happened while Ethereum made a $1,870 all-time high, the indicator indicates holders’ confidence. To conclude, based on both on-chain metrics and trading perspective, there are encouraging signals that $2,000 is within reach and that dips are being bought up aggressively. author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision. Title: Ethereum fundamentals signal $2,000 ETH price is closer than it seems
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Ethereum fundamentals signal $2,000 ETH price is closer than it seems Ethereum fundamentals signal $2,000 ETH price is closer than it seems was originally published here https://allthetopnews.wordpress.com/2021/02/16/ethereum-fundamentals-signal-2000-eth-price-is-closer-than-it-seems/ Ethereum fundamentals signal $2,000 ETH price is closer than it seems was originally published here https://amyjimenez0.blogspot.com/2021/02/ethereum-fundamentals-signal-2000-eth.html
Love & coordination at the frontier of governance: How Yearn minted $300 million
Love & coordination at the frontier of governance: How Yearn minted $300 million Love & coordination at the frontier of governance: How Yearn minted $300 million
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Love & coordination at the frontier of governance: How Yearn minted $300 million Love & coordination at the frontier of governance: How Yearn minted $300 million was originally published here https://allthetopnews.wordpress.com/2021/02/15/love-coordination-at-the-frontier-of-governance-how-yearn-minted-300-million/ Love & coordination at the frontier of governance: How Yearn minted $300 million was originally published here https://amyjimenez0.blogspot.com/2021/02/love-coordination-at-frontier-of.html
$50K and BTC’s biggest weekly candle ever: 5 things to watch in Bitcoin this week
$50K and BTC’s biggest weekly candle ever: 5 things to watch in Bitcoin this week $50K and BTC’s biggest weekly candle ever: 5 things to watch in Bitcoin this week Bitcoin (BTC) is riding high on a wave of positive sentiment as it prepares to take on $50,000. After a volatile weekend which saw a new all-time high, expectations are putting Bitcoin back in the spotlight as a fundamental level comes into play — what’s in store? Cointelegraph considers five factors which could serve to move the market in the coming days. Stocks gain while the dollar divesStocks are climbing, building on a record-breaking rally which has seen many indexes already shoot higher than ever. Despite warnings that the good times may soon end, including from Warren Buffett’s market indicator last week, markets began Monday in the green. Japan’s Nikkei touched 30,000 points for the first time since 1990 on 1.6% growth.
At the same time, the strength of the U.S. dollar continues to falter. The U.S. dollar currency index, which measures USD against a basket of trading partner currencies, abandoned its latest attempt at a rebound over the weekend to test support at 90 once again. The index has been in a bearish mood for much of the past year, and Bitcoin has in turn gained from periods of express weakness and seen a retreats during trend-bucking comebacks. Long term, however, central bank money printing is ensuring that in many jurisdictions, the economic environment does not revert to its former character any time soon. Responding to a Valentine’s Day post from the European Central Bank (ECB), Saifedean Ammous, author of the popular book, “The Bitcoin Standard,” had little sympathy. The institution had promised to “keep financing conditions favourable ‘Til the crisis is through.” “This is why fiat people spend their pathetic lives hyperventilating over one imaginary crises to another,” he responded. “Lots of brrrrrr to be made whenever there’s crisis!” $50,000 or not $50,000? That is the questionWhen it comes to Bitcoin specifically, it’s (mostly) about the short term for investors this week. One event in particular — how and when the largest cryptocurrency will break $50,000 — is a talking point across the industry. The weekend produced a concerted effort to crack the latest psychologically significant level, with a classic “out-of-hours” bout of volatility producing new all-time highs of $49,714. With sellers lined up at the final hurdle, however, $50,000 eluded the bulls and BTC/USD retreated lower before continuing to consolidate at around $47,000. “Huh? #Bitcoin market doesn’t go up in a straight line?” an unsurprised Cointelegraph Markets analyst Michaël van de Poppe summarized on Monday. Van de Poppe had frequently warned that Bitcoin’s vertical upside could not sustain without multiple, and sometimes intense, pullbacks.
In his own forecast, meanwhile, fellow analyst filbfilb produced a new chart with a potential end-of-month BTC price as high as $78,000. “The continually good news narrative we have seen makes me think this is entirely possible,” he added in comments on Twitter. “50k could easily be a squeeze, that’s what the volume says anyways.” The target expands filbfilb’s previous expectations of $52,000 forming the next point of consolidation before a run to $63,000. Noncoiner-naysayers feel the game is lostFilbfilb’s “good news narrative” refers to an ongoing phenomenon reminiscent of the domino effect among major institutions reevaluating and flipping bullish on Bitcoin. Last week alone, Tesla bought in bigtime, while America’s oldest bank, BNY Mellon, announced that it would offer cryptocurrency support for institutional clients. Now, anticipation focuses on Morgan Stanley making official the rumors surrounding its new Bitcoin punt that allegedly involves its investment arm. At the same time, opponents of its success appear to be increasingly despairing at their lack of ability to stop it via traditional means. A key case in point is Nigeria, which last week saw its own politicians admit that Bitcoin had destroyed the value of its national fiat currency, the naira. “Cryptocurrency has become a worldwide transaction of which you cannot even identify who owns what,” Senator Sani Musa said. “The technology is so strong that I don’t see the kind of regulation that we can do. Bitcoin has made our currency almost useless or valueless.” The picture could not be more different than the fortunes of those already, to a greater or lesser extent, on a “Bitcoin standard.” Even Tesla, which bought in at the start of 2021, is already up 40% on its $1.5 billion treasury conversion. On the back of fellow pioneer MicroStrategy’s dedicated “Bitcoin for Institutions” summit earlier this month, similar stories are likely to follow. “Mind blowing” similarities point to $274,000 BTC priceAs Cointelegraph often reports, various indicators both simple and complex point to the potential for considerable Bitcoin price upside across timeframes. Zooming out, however, new data simply governing spot price highlights what one analyst believes is almost a carbon copy of the previous bull cycle. “It’s pretty mindblowing that the Bitcoin chart is damn near IDENTICAL to Aug. 2017,” Jack Purdy, a researcher at data provider Messari, tweeted on Sunday. “Anyone need a refresher for what happened next?” Responding, Glassnode CTO and co-founder Rafael Schultze-Kraft calculated that based on its current position in the cycle, BTC/USD has the position to go to $274,000 — an increase of 471% in line with 2017 behavior.
At the same time, Glassnode highlighted a distinguishing factor since Bitcoin’s most recent block subsidy halving last year. Miners, apart from some conspicuous occasions, are selling less than during previous bull runs despite spot price being far higher. “Previous #Bitcoin bull markets are characterized by fingerprints of increased miner outflows of $BTC that had been acquired throughout prior years,” the firm noted on Monday. “Even though we’re seeing slightly higher outflows of older BTC, this same pattern has not emerged in the current bull market.” Biggest ever weekly candleFinally, to put last week’s price action in context, Bitcoin has seen its biggest weekly candle in history. At 25%, or $9,800, Bitcoin added a quarter of its value again over the past seven days. That follows various similar feats, including the largest ever daily candle earlier in February.
Against such strong performance, even the correction lower at just before $50,000 was of little concern to analysts beyond the mainstream press on Monday. “Agressive selling by larger derivatives traders have lead to a big CVD div while $btc price has drifted up. (absorption of sellers by buyers),” filbfilb explained in a tweet. “Funding keeps flipping high at resistance, so its probably not time to play out yet, but i remain bullish.” Filbfilb was referring to the funding rate on major exchanges increasing, causing long traders to pay more to maintain their positions near psychologically significant price points. Title: $50K and BTC’s biggest weekly candle ever: 5 things to watch in Bitcoin this week
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together $50K and BTC’s biggest weekly candle ever: 5 things to watch in Bitcoin this week $50K and BTC’s biggest weekly candle ever: 5 things to watch in Bitcoin this week was originally published here https://allthetopnews.wordpress.com/2021/02/15/50k-and-btcs-biggest-weekly-candle-ever-5-things-to-watch-in-bitcoin-this-week/ $50K and BTC’s biggest weekly candle ever: 5 things to watch in Bitcoin this week was originally published here https://amyjimenez0.blogspot.com/2021/02/50k-and-btcs-biggest-weekly-candle-ever.html |
Amy Jimenez
My name is Amy Jimenez, and I am the main writer behind the” allthetopnews.com” for the ground-breaking and most fragile bits of knowledge into the most recent news in the services sector. I began my voyage of work as an autonomous investment advisor. I had around 4 years of involvement in this field. I am a free soul so; my energy for investigating the world has taken me to the countries over the globe and allowed me to report for a part of the best news affiliations. At present, I am a full-time manager as experienced in the account and began to utilize my capacities. Archives
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