Bitcoin price drops below $ 13,300 after the daily high

The BTC / USD pair turned down just before $ 14,000 and is currently holding at just under $ 13,200.

Bitcoin Up price drops below $ 13,300 after the daily high.

Bitcoin ( BTC ) fell below $ 13,300 on Oct. 28 after testing its resistance since 2019 and kinking from there.

Development of the cryptocurrency market on Coin360

Data from Cointelegraph Markets , Coin360 and TradingView show rising volatility on Wednesday after the BTC / USD pair hit $ 13,850.

When he failed to get to $ 14,000 it became unsafe. It then fell below $ 13,300.

In a subsequent rebound, $ 13,400 has become a major point. There were always increases and decreases.

On Wednesday, an unusually large transaction took place on the Coinbase exchange, which originated from an unknown wallet. There is likely to be a sale worth 1,072 BTC ($ 14.6 million). Previously, there were several large transactions that were always the same amount, as well as larger transactions that were tracked by the Whale Alert monitoring service .

As Cointelegraph reported , there was a $ 1 billion transaction on Tuesday that could be attributed to Coinbase

However, analysts clearly distinguish between short-term price developments and their longer-term effects. Some believe Bitcoin has already demonstrated its maturity as an asset and further gains are almost guaranteed in the coming months.

As stated by Cointelegraph , Real Vision CEO Raoul Pal publicly said that Bitcoin would climb to its all-time high of $ 20,000 within three months.

On the other hand, Cointelegraph Markets analyst Michaël van de Poppe emphasized that it is important to break through $ 14,000 and make that level a support. Conversely, the $ 13,000 level should now act as a major support zone.

5 reasons why Bitcoin is fundamentally in good shape

The bitcoin (BTC) rate reaches a new year record. With a price around $13,000 it looks good. But also other statistics about bitcoin are positive.

Lucas Nuzzi of Coinmetrics shows with five charts how good bitcoin is.

Hodl
Bitcoin breaks several records. For example, more than 62% of all BTC has been at a standstill for a year, which is more than ever. The graph below clearly shows that something remarkable happened in 2017.

The price of bitcoin reached its highest point so far, at some exchanges the currency went out of business for more than $20,000 each. Around that intense price movement more and more BTC started to move, mostly to exchanges.

Scholarships
Speaking of fairs … there is a clear trend there too. The number of BTCs at a trade fair is decreasing rapidly. More and more people seem to want to store their bitcoin themselves.

Bitcoin addresses
In the field of bitcoin addresses, there is another remarkable statistic: the number of addresses with more than 1 dollar in BTC is also at a peak.

By the way, a bitcoin address does not say much about the number of users. You can create new addresses unlimited and free of charge.

Bitcoin hashrate
The bitcoin hashrate is also constantly reaching new heights. In short, this means that more computer power than ever is involved in mincing bitcoin.

Hundreds of millions are being invested in data centres that focus on BTC mitigation.

Inflation
Bitcoin’s inflation rate stands at 1.78% until the next half. That is below the limit of the world’s leading central bank. As from this year, the US central bank has no problem with an inflation rate of more than 2%.

Bitcoin’s monetary policy offers clarity and certainty. You know what you get and what you can expect, the issuance of bitcoin is predictable.

France: Sorare sold € 170,000 in football cards in 7 days

Sorare is a blockchain-based fantasy soccer game.

Users have completed more than 3,500 transactions for a value of 170,000 euros.

The Trust Project is an international consortium of news organizations based on transparency standards.

Sales record

Sorare has already sold more than 2.5 million euros in professional player cards. The site’s exchange volume increased from 25,000 euros in December 2019 to 760,000 euros in September.

Sales hit a new record in the last 7 days. According to the analysis site Nonfungible.com , users have carried out more than 3,500 transactions for a value of 170,000 euros . The average sales value reaches 58 dollars.

More surprisingly, player cards have even sold for over $ 7,000 as we can see below.

Paris Saint-Germain captain Marquinhos’ single card traded for $ 7,800 at the start of October.

Prestige partnership

Recently, Sorare announced the signing of a license agreement with Paris Saint-Germain allowing the French startup to exploit the image of the club’s players in its game.

Sorare has a large user base, particularly in Asia and the United States, priority markets for the Paris Saint-Germain brand , which is one of the fastest growing sports franchises in the world.

Sorare currently has 100 officially licensed clubs . Last year, top clubs like Atlético de Madrid, Juventus and AS Roma had already joined the platform.

When this bitcoin signal flashed in 2017, BTC was up 1,500%. Now it’s back

Bitcoin has hit a low in the last few weeks, entering a trading range between $ 10,000 and $ 11,000.
On a macro basis, not all analysts are convinced that BTC is in a full-blown bull market.

There are a number of resistance levels above the current Bitcoin price that could mark highs of a medium-term rebound.

Still, there are crucial on-chain indicators that suggest that the cryptocurrency has scope for upward movement.

One such indicator, formed in 2017 before a 1,500% upward move, has returned.

There are also fundamental trends that suggest the ball is firmly in the bulls’ field right now.

Critical on-chain Bitcoin indicator shows: A strong rally is coming

Ki Young Ju, CEO of CryptoQuant, believes Bitcoin is likely on the verge of a full-blown bull run as the mining ecosystem flashes a number of bull signals.

On September 24th, he shared the chart below and commented that the Bitcoin miners are expecting an upcoming bull run. The same signal appeared in early 2017 – before a parabolic surge.

“If the $ BTC miners are still setting the price, the next bull run should begin soon. The MPI (Miner Position Index) has a very high hit rate in predicting the bull / bear market when the macro factors such as the stock market are not significant. ”

Should history repeat itself, Bitcoin is on the verge of a parabolic rally that should bring the coin above its all-time high of $ 20,000.

Graphic of BTC’s macro price action with an index analysis of the miner’s position by crypto-on-chain analyst and CryptoQuant CEO Ki Young Ju.

Basics are better than ever

Aside from pure on-chain data, analysts believe that the fundamentals of Bitcoin are stronger than ever. That confirms the expectation that the cryptocurrency market will see a strong upward move.

Raoul Pal, CEO of Real Vision, had this to say about BTC’s fundamentals:

“Most people don’t understand the latter, but to put it simply, Powell has shown that there is ZERO tolerance to deflation, so they’ll do ANYTHING to stop it, and that’s good for the two toughest investments – gold and Bitcoin. Powell WANTS inflation. I don’t think he will get any real demand push inflation, but he will get fiat devaluation, in conjunction with the other central banks all on the same mission. ”

Others like Pal join this optimistic mood. They believe that given the massive amount of monetary policy and stimulus, along with other geopolitical and monetary trends, BTC is poised to move higher.

“Bitcoin no negocia por los débiles de corazón”, dice Barry Silbert.

El Grupo de Moneda Digital (DCG) está flexionando su músculo de balance una vez más.
La empresa matriz de Grayscale Investments reveló que está adquiriendo la bolsa de criptodólares Luno, con sede en Londres.
El CEO de DCG, Barry Silbert, señaló que la mayoría de las empresas en el espacio de Bitcoin Profit están viendo un crecimiento fantástico este año, a pesar de la pandemia.

Bitcoin

El Digital Currency Group (DCG) está flexionando su balance una vez más en el mercado de Bitcoin.

La empresa matriz de Grayscale Investments reveló que está adquiriendo la bolsa de criptodivisas Luno, con sede en Londres, que se centra en los mercados emergentes y fronterizos, donde Bitcoin es el rey.

DCG y Luno no son extraños entre sí, ya que el inversor de la cadena de bloques de empresas apoyó por primera vez el intercambio de Bitcoin hace seis años a través de una ronda de semillas. El acuerdo eleva a cinco el número de filiales de DCG, ya que sigue reclamando más terreno y aumenta su influencia.

La subsidiaria de DCG en escala de grises es una fuerza a tener en cuenta, supervisando 4.000 millones de dólares en AUM institucional a partir del segundo trimestre de 2020. Con el acuerdo de Luno, DCG está entrando en la lucha de los inversores minoristas.

Crypto Craze

El jefe de la DCG, Barry Silbert, fue invitado a la cadena CNBC’s Squawk Box, donde habló de cómo la pandemia de COVID-19 ha acelerado la adopción de Bitcoin en todo el mundo, ya que los inversores buscan activos de almacenamiento de valor, diciendo,

La mayoría de las empresas en el espacio de Bitcoin están viendo un fantástico crecimiento este año… Bitcoin es probablemente uno de los mejores, si no el mejor, de los activos de este año.

Desde la pandemia, Luno ha estado creciendo a mano alzada, evidenciado por un crecimiento récord en volumen de transacciones, ingresos y clientes. Además de Londres, Luno también tiene centros en Singapur y Ciudad del Cabo y como resultado del acuerdo se beneficiará de la huella global de DCG.

Barry en Bitcoin

Todas las miradas han estado puestas en Bitcoin durante la agitación económica mundial, ya que el estímulo monetario se ha disparado. Las acciones han estado en una montaña rusa y los rendimientos se han hundido. Bitcoin también se ha visto atrapado en su propio mercado.

El precio de la BTC ha caído desde un reciente máximo de más de 12.000 dólares a menos de 10.000 dólares y actualmente ronda los 10.250 dólares. Esta volatilidad no se ha perdido en el mundo financiero tradicional, en respuesta a lo cual Silbert dijo,

    El comercio de Bitcoin no es para los débiles de corazón. Las bajadas se amplifican, las subidas se amplifican. Pero en lo que va de año, Bitcoin ha jugado su papel, como diversificador, como un activo que… ha subido un 40% este año.