Bitcoin „Bear Whales“ visar tecken på utmattning som analytiker öga uppåt

Bitcoins pris har varit ganska stillastående de senaste dagarna, med dess senaste avslag på höjder på $ 28,500 som startar en kortfristig konsolideringsfas

Där kryptotrenderna på medellång sikt i stor utsträckning kan bero på huruvida tjurar kan ogiltigförklara dessa toppar som en potentiell ”avblåsning”
Det har spekulerats i att snabbheten i rallyt och avslag bekräftade det björnfavörande mönstret, men BTC: s motståndskraft i tiden sedan är ett lovande tecken

En analytiker på kedjan noterar nu att där marknadsutvecklingen nästa kommer utan tvekan att bero, åtminstone delvis på utvandringen av så kallade ”björnvalar”

Han konstaterar att dessa stora säljare tar slut ånga, vilket kan indikera att uppåt är nära förestående för riktmärket krypto

Bitcoin har konsoliderats ända sedan det nådde en topp på 28 500 dollar. Styrkan som ses vid dessa toppar orsakade att kryptovalutan förlorade någon allvarlig fart och drev lägre.

Trots den senaste tidens nedgång har tjurar byggt starkt stöd inom regionen $ 26 000, vilket är ett positivt tecken för dess medellångsikt.

En analytiker förutspår nu att ett steg högre är överhängande och pekar på utmattning på säljesidan bland så kallade ”björnvalar”.

Utflyttningen från dessa säljare kan öppna grindarna för ytterligare uppåt på mitten av tiden.
Stöd för Bitcoin vinst efter bildandet av potentiell „Blow-Off Top“

I skrivande stund handlas Bitcoin med knappt 4% till sitt nuvarande pris på 27 200 $. Detta markerar en anmärkningsvärd rally från de senaste nedgångarna på $ 26.000 som sattes efter flytten till $ 28.500.

Det här liknade en avblåsningstopp, men återhämtningen från dessa nedgångar är ett lovande tecken på att detta mönster kan vara ogiltigt.

Tjurar måste fortsätta att försvara regionen i mitten av $ 26 000 under de kommande dagarna.

On-Chain Analyst: Valar har slut på försäljningstrycket

En analytiker förklarade i en nyligen tweet att data indikerar att valar som har lossat sina Bitcoin-innehav börjar ta slut på försäljningspress.

”BTC-valar verkar utmattade att sälja. Färre valar deponerar på växlar. Jag tror att detta bull-run kommer att fortsätta när institutionella investerare fortsätter att köpa och Exchange Whale Ratio håller under 85%. ”

De kommande dagarna borde belysa var hela marknaden trender på medellång sikt. Utvandringen av baishvalar verkar som en positiv händelse, eftersom det kan lindra något tryck på försäljningssidan som krypton står inför.

Ethereum course shoots above $ 700: what does ETH expect next?

The Ethereum price rose above $ 730 for the first time since May 2018. After the price of ETH breaks out, traders are becoming more optimistic about the near-term development.

The Ethereum course is currently out of control. It almost seems as if a slumbering giant has finally woken up, but what exactly is behind the rapid price increase in Ethereum’s native crypto currency ETH and what can we still expect?

Some of the possible reasons that can explain the sudden rally are mainly the following two important factors for the Ethereum price:

Now let’s take a closer look at exactly what effects this has and could continue to have.

Ethereum price continues to make higher highs

In technical analysis, the higher high pattern often suggests strong momentum as it shows that each new high is higher than the previous one.

The Ethereum price has continuously recovered in the last week and maintained the „higher high“ formation. Cryptocurrency trader Scott Melker said:

An endless series of higher highs and higher lows, with the most recent low confirmed by a new higher high. I consider this pattern the ‚Stairway To Heaven‘.

Similarly, on December 28, Michael van de Poppe, a full-time trader on the Amsterdam Stock Exchange, said that if the Ethereum price stays above $ 470, ETH is likely to be $ 1,200 to $ 1,300. He wrote:

In general, Ethereum still has a very bullish outlook as it has consistently made higher highs and higher lows. This has not changed. As long as $ 470 holds, the next run will push the markets towards $ 1,200–1,300 or a new ATH in Q1 2021.

A breakout against Bitcoin is crucial

Since the Bitcoin price exceeded its previous all-time high of around $ 20,000, Ethereum has stagnated against Bitcoin . In order for Ether to experience another rally, a breakout against Bitcoin is crucial.

The analysts at Santiment announced that the ETH mineral balances are at a two-year low and that the supply on the stock exchanges is also decreasing.

Ethereum is getting scarcer

The combination of the two data points suggests that selling pressure on ETH is easing. The analysts stated:

On what is usually the slowest trading day of the week, Ethereum cracked the $ 700 mark for the first time since May 19, 2018 on a great altcoin Sunday. The ETH Miner credit is at a 2-year low & supply on exchanges is at a 1.5-year low. Both are great validators.

What’s next for the Ethereum course?

Meanwhile, the futures on the Chicago Mercantile Exchange (CME) should start in 43 days. According to data from Bybt.com, the CME is already the largest futures exchange for Bitcoin in terms of open interest.

The term open interest refers to the total amount of capital that is actively traded on the stock exchange. As of December 28, the open interest of the CME Bitcoin Futures exchange is over $ 1.67 billion.

Some analysts expect institutional demand for Bitcoin to spill over to Ethereum in 2021 as well.

Mike Novograz called on investors to invest up to 3% of their capital in Bitcoin.

According to Mike Novograts, CEO of Galaxy Digital, bitcoin will grow in price over the long term. BTC businessman and supporter expressed his forecast in an interview with Yahoo Finance Live.

Novograts stressed that this year’s rise in the crypt currency was the result of a massive inflow of capital into this asset by institutional investors.

He emphasised that this was the result of a massive inflow of capital into this asset by institutional investors:

Bitcoin has become a macro asset to protect against the depreciating fiat currency both in the US and abroad. Everyone should invest between 2% and 3% of their capital in Bitcoin and look at it in five years.

According to the CEO of Galaxy Digital, by 2025, the value of BTC will be significantly higher than what we are seeing today. At the same time, he claims that volatility in the market will remain. However, it is unlikely that the coin will become cheaper again below $12,000.

Novograts recently announced that the BTC price could reach $20,000 by the end of 2020.

Many other observers also expect the positive trend to dominate the cryptovoltaic market. For example, Todd Gordon, founder of TradingAnalysis, said earlier on CNBC that the Bitcoin price could rise to $74,000 in 2021.

MicroStrategy CEO: „Bitcoin is like LeBron James

MicroStrategy CEO: „Bitcoin is like LeBron James

MicroStrategy CEO Michael Saylor compares the development of Bitcoin to that of basketball star LeBron James.

In an interview with German financial expert and non-fiction author Marc Friedrich, MicroStrategy CEO Michael Saylor emphasised that the criticism of Bitcoin (BTC), which was still valid in 2015 and 2017, is now no longer valid.

Since 2017, Bitcoin has made significant progress Bitcoin News Trader in terms of infrastructure, fundamentals and adoption. In addition, and probably for this very reason, more and more institutional investors have invested in BTC this year as a store of value and a hedge against inflation.

While 2017 was still cited as a major criticism that the crypto currency would fluctuate too much and could possibly fall to zero, Saylor sees the development over the past three years as a sufficient counter-argument that this criticism will fizzle out.

The head of MicroStrategy exemplifies this with the successful basketball player LeBron James, who is repeatedly traded as the heir to the legendary Michael Jordan. As Saylor points out in his analogy, even James, despite his great talent, would have had to go through a process of maturation before success could be achieved:

„I also think it is important to address the concerns and concerns of those in the crypto community who fear that Bitcoin is too risky, too volatile or could even go to zero. These people are still living in 2012, 2015 or 2017, and I will respond to them with this example: LeBron James already played basketball between the ages of 9 and 18, when he was very talented but volatile and volatile. Then, when he grew up, he destroyed every one of his opponents between the ages of 18 and 28“.

Tonight 7pm CET @michael_saylor from @MicroStrategy about #bitcoin, #bitcoin, #bitcoin, #gold, #xrp and much more (mostly #bitcoin).

Tune in: https://t.co/L9PMOtdcKR pic.twitter.com/2itjTLaZAh
– marrrrrrc friedrich (@marcfriedrich7) December 3, 2020

One of the most important developments Bitcoin has made since 2017 is the significant expansion of the market.

While three years ago, crypto trading platforms such as BitMEX, which specialise in private investors, dominated the derivatives trading market on their own, the picture has changed.

As Cointelegraph reported, the large Chicago Mercantile Exchange (CME) options exchange, which targets institutional investors, now has a trading volume similar to that of crypto-trading platforms for retail investors. For example, CME Bitcoin futures had $1.14 billion of open interest on 4 December, higher than Binance Futures, Bybit, Huobi and BitMEX.

The on-chain data also shows that more and more large transactions are being made on the Bitcoin block chain, further evidence of the increased interest of institutional investors.

According to IntoTheBlock, the number of transactions worth more than $100,000 has doubled in the last two years. From this, the crypto-market researchers conclude, increasing activity by institutions.

Not only has the number of large transactions increased considerably, but also their volume has risen noticeably, the analysts write:

„The number of transactions of over 100,000 US dollars per day on the Bitcoin block chain has more than doubled compared to the previous year. In addition, the total volume moved in these transactions has increased more than six times over the same period“.

The increased interest of the institutions is an important driving force, which on the one hand ensures high capital inflows and on the other hand consolidates the perception of the crypto currency as a legitimate investment product in the mainstream. As Saylor noted in the interview, Bitcoin has thus taken a decisive step that now provides it with the basis for writing a similar success story to LeBron.