Largest wealth manager in the world bullish: Bitcoin is here to stay

BlackRock’s CIO for Fixed Income, Rick Rieder, has been very bullish on Bitcoin. BlackRock is the largest wealth manager in the world.

In CNBC’s Market Alert, Rieder emphasized the susceptibility of millennials to cryptocurrencies. Coincidentally, shortly thereafter, the price of BTC topped $ 18,800 for the first time since 2017.

Large financial institutions and executives in the traditional financial sector seem to be opening up to Bitcoin. While the institutions’ direct impact on Crypto Engine is unclear, the growing perception of BTC as a store of value is very optimistic.

Institutional investors and financial industry executives recognize Bitcoin

The price of Bitcoin is rising rapidly as a large amount of buyer demand accumulates with every major slump. In the past few weeks there has been significant selling pressure from Bitcoin whales, wealthy investors and buyers.

The internal chain data shows steadily increasing whale inflows to the exchanges, which indicates a high selling pressure on the part of the big BTC owners.

Still, any major decline that marked the short-term moving averages on the 4-hour and daily Bitcoin charts was quickly bought out. This shows that there is a high level of buyer demand in the market.

Based on recent trends, buyer demand for Bitcoin likely came from two main sources

First, the skyrocketing volume of the CME Bitcoin futures market and the rising assets managed by Grayscale show that institutional demand is high.

Second, the steady influx of stablecoins into the exchanges suggests that sideways capital is moving back into the cryptocurrency market.

In addition to the continuous inflows of sideways and new institutional capital into Bitcoin, sentiment around BTC continues to improve.

Rick Rieder, the CIO of Fixed Income at BlackRock (the company has managed $ 7.43 trillion since 2019), on CNBC:

“I think cryptocurrency is here to stay. I think it’s permanent. I believe millennials’ receptivity to technology and cryptocurrency is real. Digital payments are real. So I think Bitcoin will stay here. ”

Previously, JPMorgan and other investment banks had made comparisons between Bitcoin and gold.

What’s next for BTC?

It’s difficult to set a price for Bitcoin or come up with a fair valuation for BTC. But considering that more institutions are comparing BTC to gold, it would make sense to value BTC as a fraction of gold’s market cap.

Sam Bankman-Fried, CEO at FTX and Head of Alameda Research, explains:

“To be honest, this always struck me as one of the most bullish facts, who knows what the ‘right’ price for BTC is, but does it matter more or less than 1% as much as gold?”

Currently, the market capitalization of gold is estimated at around $ 10 trillion. The market cap of Bitcoin is despite the recent rally in less than 4% of the gold price.

This can be cited as a strong argument that BTC as a store of value and safe haven is still undervalued, at least in the long term.

El éter alcanza los 500 dólares por primera vez desde junio de 2018, superando al YTD de Bitcoin

El éter alcanza sus máximos de dos años y medio y sigue a Bitcoin para alcanzar niveles psicológicos significativos esta semana.

El éter (ETH) regresó a 500 dólares por primera vez en más de dos años el 20 de noviembre, mientras que los altcoins se recuperaban lentamente de su pobre desempeño.

El precio del éter ve 500 dólares después de más de dos años

Los datos de Cointelegraph Markets, Coin360 y TradingView mostraron que ETH/USD golpeó brevemente la barrera psicológica en el comercio del viernes antes de que un rechazo detuviera el progreso.

A pesar de tener un límite de aproximadamente 6% de ganancias diarias al momento de la impresión, el logro de Ether deleitó a los operadores, quienes notaron que en general en el 2020, el mayor altcoin ha superado incluso a Bitcoin (BTC).

Los rendimientos del año hasta la fecha son del 284% para el Éter y del 155% para Bitcoin.

Frente a la caída de sus precios a mediados de marzo, justo después de la caída de activos cruzados inducida por el coronavirus, Bitcoin Future seguía siendo el jugador más fuerte. En ese momento, el ETH/USD cotizaba a sólo 117 dólares, haciendo que los niveles del viernes aumentaran un 327%, mientras que el BTC/USD subió un 411% de 3.600 a 18.420 dólares.

Además de la visita de 500 dólares -la primera de Ether desde junio de 2018- otros altcoins importantes también mostraron signos de vida, en particular Litecoin (LTC), que con un 12% de ganancia superó a Bitcoin en el día, y es el único altcoin importante que superó a BTC en el último mes -en un 7%-.

Anteriormente, el analista de Cointelegraph Markets, Michaël van de Poppe, argumentó que una nueva “altseason” tendría que esperar, pero que un tope realista para la próxima corrida del éter podría llegar a los 20.000 dólares.

En una entrevista con Van de Poppe para Cointelegraph, mientras tanto, el director general de Nugget News, Alex Saunders, pronosticó que la ETH/USD superaría sus actuales máximos históricos de 1.400 dólares para finales de 2021.

Bitcoin reta a un pico de 18.420 dólares

Mientras tanto, Bitcoin mantuvo firmemente la mayoría de la atención el viernes, reclamando 18.000 dólares y continuando con la resistencia en su anterior tope de 18.420 dólares de principios de semana.

La anticipación de nuevas ganancias sigue siendo fuerte, con los máximos de 20.000 dólares en 2017 formando el único nivel de resistencia importante más alto en el gráfico.

Todavía no se ha producido una inversión a la baja, posiblemente a niveles tan bajos como 11.600 dólares, con 17.200 dólares que sirven ahora como piso firme para los toros.

Il prezzo Bitcoin colpisce $18K ma i trader si aspettano un ritiro “superficiale” prima di un nuovo massimo

I tori hanno spinto il prezzo del Bitcoin a 18.000 dollari, ma gli analisti si aspettano ancora una correzione “superficiale” prima di un nuovo massimo storico.

Bitcoin (BTC) ha appena fissato un altro record per il 2020, superando i 18.000 dollari per la prima volta in tre anni.

Il 17 novembre, il prezzo della BTC è salito a 17.858 dollari dopo che un’impennata dei volumi ha spinto il prezzo in modo pulito attraverso la fascia da 17.100 a 17.300 dollari che molti analisti ritenevano fosse un forte livello di resistenza.

Secondo il co-fondatore di Decentrader, Filbfilb, il prezzo della Bitcoin Pro potrebbe continuare a marciare più alto nel breve termine se i principali supporti sottostanti dovessero tenere.
Grafico giornaliero BTC/USD.

Il popolare analista ha twittato il grafico di cui sopra e ha detto:

“L’attuale PA potrebbe ancora facilmente risultare in uno slancio verso il moltiplicatore del rapporto aureo, attualmente a 19K”.

Grafico giornaliero BTC/USDT.

Come mostrato nel grafico settimanale, Bitcoin è a un pelo dal raggiungere il massimo storico di 19.763 dollari raggiunto nel dicembre 2017, e su più intervalli di tempo, il profilo del volume visibile (VPVR) mostra che c’è poca resistenza sopra i 17.000 dollari.

Gli analisti si aspettavano che il prezzo si consolidasse brevemente nella fascia da $17.500 a $17.700, dato che alcuni trader hanno ottenuto dei profitti, ma i tori sembrano intenzionati a spingere BTC più in alto. Ad oggi, Bitcoin si è radunato al 13,06% da quando ha superato la resistenza di $16.000, quindi un periodo di consolidamento per costruire il supporto per la prossima tappa è sano e atteso.

Per quanto riguarda i fondamenti che stanno alla base dell’attuale movimento dei prezzi e i possibili risultati a breve termine, Matt Blom, responsabile delle vendite globali di EQUOS, ha dichiarato:

“Il mercato si è esteso al rialzo, rompendo al di sopra del canale di tendenza e sembra entrare in una fase di “blow-out”. Con un mercato toro forte, la tendenza è quella di chiamare un top. Per me, la domanda è a che punto il rally diventa insostenibile”.

Il prezzo del Bitcoin si stacca da un canale ascendente. Fonte: Matt Blom, TradingView

Quando la BTC ha superato il livello dei 17.000 dollari, si è discusso a lungo se il prezzo avrebbe rifiutato vicino al massimo del 2017 o se avrebbe superato la “resistenza” e raggiunto un nuovo massimo storico.

Secondo Blom:

“Se questa settimana arriviamo a 19.050 dollari, mi aspetterei un ritorno al livello di 17.000 dollari. Ci sono un sacco di soldi nuovi in Bitcoin, non hanno mai sperimentato un ritracciamento Bitcoin! In passato, Bitcoin ha ritracciato le mosse nette, ma questa volta manca un ingrediente! La mancanza di auto-liquidazione dei longe sfruttati”.

Nel 2017, il rally è stato guidato esclusivamente dai commercianti al dettaglio e da un’enorme quantità di FOMO, o paura di perdersi, ma lo scenario è molto diverso nel 2020.
Il volume dei futures della BTC per borsa.

Per tutto il 2020, il Cointelegraph ha riportato il trend di crescita delle acquisizioni di Bitcoin di grandi dimensioni da parte degli investitori istituzionali. I dati mostrano anche che i volumi crescenti nei mercati regolamentati dei derivati Bitcoin ed Ethereum (ETH) sono il risultato del coinvolgimento di mani più grandi con il Bitcoin.

Blom ha detto:

“Il fatto che il mercato stia ora concentrando i suoi sforzi di rallying durante la settimana lavorativa istituzionale è una chiara indicazione che il denaro reale è arrivato, il che mi porta a credere che il pull-back che molti si aspettano forse poco profondo”.

Bitcoinin hinta rikkoo yli 16 000 dollaria ensimmäistä kertaa vuoden 2017 jälkeen.

Maailman johtava kryptovaluutta markkina-arvon mukaan, Bitcoin, nousi korkeimmalle tasolle 16157 dollaria kello 10:12 UTC, hintataso viimeksi nähty 6. tammikuuta 2018.

Maailman johtava kryptovaluutta markkina-arvon mukaan, Bitcoin, nousi korkeimmalle tasolle 16157 dollaria kello 10:12 UTC, hintataso viimeksi nähty 6. tammikuuta 2018.

Johtava kryptovaluutta-bitcoin rikkoi yli 16 000 dollarin tason ensimmäistä kertaa melkein kolmen vuoden aikana. Bitcoinin hinta on noussut peräti 325% alhaisimmasta tasosta, jonka se koki maaliskuussa 2020, kun COVID19-pandemia ilmoitettiin. Nouseva liike päätti viikon konsolidoinnin välillä 14000-16000 dollaria. Johtava kryptovaluutta on nyt noussut 123% edellisvuodesta ja on noussut tähän mennessä lähes 50% tällä vuosineljänneksellä.

Nousun odotetaan jatkuvan.
Kirjoitushetkellä markkina-arvoltaan johtava kryptovaluutta vaihtaa omistajaa hieman alle 16 000 dollaria. Nousun odotetaan jatkuvan toistaiseksi. Yhdysvaltain vaalien taustapeilissä ennakoidun presidentiksi valitun Joe Bidenin kanta talouden eri osa-alueisiin voi vaikuttaa finanssipolitiikkaan seuraavien neljän vuoden aikana, mikä puolestaan ​​voi vaikuttaa inflaatioon, jota vastaan ​​bitcoinia mainostetaan suojauksena. Three Arrows Capitalin perustaja Kyle Davies sanoi, että keskuspankin kannustimien taustalla odotamme sijoittajien pitävän käteistä ja jatkavan kohdistamista bitcoiniin.

Ray Dalio uskoo, että hallitukset kieltävät bitcoinin, jos hinta jatkuu.
Miljardööri hedge-rahastojen legenda Ray Dalio ei näe, että Bitcoinin kaltaiset kryptovaluutat menestyvät muiden ihmisten tavoin. Dalio twiitti, että viranomaiset tarttuisivat kryptovaluuttoihin nähdessään ”aineellisen” kasvun. Samaan aikaan johtava kryptovaluutta on ylittänyt Bridgewaterin vuosi vuodelta.

Barry Silbert, toimitusjohtaja Grayscale – kryptovaluutta-sijoituspalveluyrityksellä, jolla on hallinnassaan yli 9 miljardia dollaria varoja. Bridgewater on hedge-rahasto, joka hallinnoi hallinnoitavia varoja 148 miljardia dollaria syyskuusta 2020 lähtien. Jos kryptovaluutat näkevät merkittävän kasvun, Dalio uskoo, että hallitukset todennäköisesti lisäävät ponnistelujaan niiden rajoittamiseksi.

Prévision du prix des bitcoins : La CTB/USD chute en dessous de 13 000 $ ; confirme la tendance baissière

Prévision des prix des bitcoins (BTC) – 29 octobre

Le bitcoin fluctue dans la zone des 13 000 dollars et les négociants ont jusqu’à présent été baissiers, car les marchés mondiaux restent profonds ces deux derniers jours.

Tendance à long terme de la BTC/USD : Hausse(Graphique quotidien)
Niveaux clés :

Niveaux de résistance : 14 000 $, 14 200 $, 14 400

Niveaux de soutien : 12 300, 12 100, 11 900

Comme la plupart des altcoins restent dans le rouge, la CTB/USD continue de baisser. En quelques heures, la cryptocouronne est passée de 13 281 dollars à environ 12 976 dollars. Le prix fluctue maintenant autour de 13 142 dollars. Le prix du Bitcoin s’effondre en dessous du support immédiat car il a franchi une zone de prix de 13 000 $. En jetant un coup d’œil à l’évolution du prix, on constate que la pièce a connu un mouvement presque plat avec quelques hauts et bas intermittents au cours des dernières 48 heures.

Quelle est la prochaine étape dans l’évolution des prix de la CTB ?

Selon le graphique journalier, la CTB/USD forme une tendance baissière en fanion et, une fois formée, signale une poursuite de la tendance précédente avant le début de la consolidation. En attendant, le prix du Bitcoin System est toujours sous un grand risque de rupture, surtout si le support du modèle est brisé. De plus, il pourrait être catastrophique pour la BTC/USD si le support à 12 700 $ cède, ce qui encouragerait à vendre davantage, forçant la BTC/USD à suivre une voie douloureuse avec un objectif baissier de 12 500 $.

Cependant, la CTB/USD est fortement soutenue à l’ancien niveau de résistance de 12 800 $. Néanmoins, les taureaux misent également sur le soutien à 12 300, 12 100 et 11 900 dollars pour s’assurer qu’en dépit d’un retournement, le prix du Bitcoin reste au-dessus du niveau de 13 500 dollars. De même, les niveaux de résistance les plus proches à surveiller sont respectivement de 14 000 $, 14 200 $ et 14 400 $. Pendant ce temps, le RSI (14) sort de la zone de surachat.

Tendance à moyen terme de la CTB/USD : Gamme (Graphique 4H)

Sur le graphique en 4 heures, le prix de la BTC tourne autour de 13 319 $ et peut prendre du temps pour se maintenir au-dessus de 13 500 $. De plus, si les taureaux prennent suffisamment de force et se regroupent à nouveau, le mouvement à la hausse pourrait atteindre le niveau de résistance à 13 600 $ et plus.

Cependant, à la baisse, le soutien immédiat se situe autour du niveau de 13 100 dollars alors que le soutien principal se situe au niveau de 13 000 dollars. Le prix pourrait probablement tomber en dessous de 12 900 $ si les ours reviennent sur le marché, un autre mouvement pourrait tester le support critique au niveau de 12 800 $. Techniquement, le Bitcoin (BTC) pourrait maintenir la tendance haussière serrée si le MA à 9 jours reste au-dessus du MA à 21 jours alors que le RSI (14) est orienté vers le nord.

One of the biggest Bitcoin wallets ($ 955 million) was emptied – Dantesque hack… or leak?

Poof Bitcoin – It’s an extraordinary and mysterious bitcoin movement that just happened on November 3rd. A huge wallet linked to the Silk Road black market and which contained 69,370 BTC has just been completely emptied .

An extraordinary transaction

CipherTrace is a cybersecurity and blockchain transaction monitoring company. On November 3, she spotted an exceptional movement from a Bitcoin wallet (at the address 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx).

An anonymous has just transferred the 69,370 BTC of this wallet, or more than 955 million dollars , to another address whose owner is also unknown . He first transferred 1 BTC (probably as a test ), before transferring 69,369.

The bitcoins that have been moved are believed to originally come from the Silk Road darknet black market .

Details of the wallet and its nearly $ 1 billion bitcoin transaction

According to CipherTrace, it appears that this transaction was performed “to switch from one address format to another” . Indeed, the old address is a Legacy / P2PKH address (starting with a “1” ), while the new address is a Bech32 / P2WPKH address (starting with “bc1q” ).

A voluntary action or a hack?

While CipherTrace believes this important move may simply have been made to “stay up to date with the Bitcoin network” , the cybersurveillance company believes there is also a possibility that the wallet was “cracked by hackers . ”

Indeed, the existing wallet since 2015 , it is well known to the Darknet hackers , many of whom seem to have tried to access it. It must be said that the BTC in play represents a good sum.

We can also note that, these bitcoins having been deposited well before the successive hard forks of Bitcoin Cash (BCH) and BSV , an equivalent quantity of these forked cryptos were also moved to new BCH and BSV addresses a priori specially created for the occasion.

Whether it is the original owner or a hacker, he has very conscientiously transferred this “small change” , which represents respectively 16.3 million and 10 million dollars .

No one knows why this transaction took place or what future this large amount of bitcoins will see. The sulphurous origin of these BTCs remains engraved in the blockchain, however, and it will prove difficult to sell them – in any case quickly, even going through mixing services to confuse the issue.

Coronavirus helped bitcoin growth, says Grayscale study

Grayscale says interest in Bitcoin among investors is increasing. And he says the coronavirus pandemic has played a key role

Grayscale, the world’s largest cryptoactive manager, published this Tuesday (27) a survey showing that US investors are more interested in bitcoin than last year, partly stimulated by the coronavirus pandemic.

The research, which summarizes the opinions of 1,000 American investors aged between 25 and 65 years, showed that the average investor in bitcoin has higher education, is male and is employed, in other words, younger. No surprise there (said that, the research counted only those with family income above US$ 50,000 per year).

In addition, “investors interested in bitcoin are also more likely to actively seek new investment opportunities, describe their risk tolerance as “aggressive,” maintain investment accounts in various companies and eagerly consume financial news,” concluded Grayscale.

Grayscale conducted a similar survey last year. This year, 9% more respondents say they are “familiar” with Bitcoin (62% compared to 53%) and interest is increasing; in 2020, 55% of respondents showed interest in Bitcoin, compared to 36% last year.
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Of the respondents who invested in Bitcoin, Grayscale found that 63% of investors in Bitcoin said the coronavirus pandemic impacted their decision to invest. 39% said that the pandemic made bitcoin more attractive.

“Bitcoin seems to be gaining strength as market participants seek investments that can act as safe havens in a portfolio,” Grayscale said.

The research showed that investors aged 35-44 who “have already gone through three recessions and have seen traditional defensive instruments, such as real estate, some stocks and bonds, have lost their appeal as a hedge against market downturns,” saw bitcoin as a protection against the crisis.

But it is the younger generations that can provide the greatest value to the cryptoeconomy, concluded the report. “The fact that most current and potential investors in Bitcoin have not yet reached their first years of gains, along with the $68 trillion wealth transfer scheduled to occur over the next 25 years, reveals a potentially huge opportunity for those who see the possibility of long-term growth in Bitcoin. ”

Bitcoin ha appena pubblicato il più grande segnale di acquisto in più di due anni, afferma il principale analista di criptovalute Nicholas Merten – Ecco cosa c’è dopo

Il fondatore di DataDash e analista crittografico Nicholas Merten afferma che Bitcoin ha appena mostrato il suo più grande segnale di acquisto in oltre 24 mesi.

In un nuovo video di DataDash, Merten spiega perché la chiusura settimanale di Bitcoin superiore a $ 13.000 è una pietra miliare storica per la più grande criptovaluta

“Ieri, abbiamo fissato la chiusura settimanale più alta, che è di nuovo il prezzo significativo su cui le persone si stanno concentrando, la chiusura settimanale più alta da quando siamo tornati qui a metà gennaio 2018. [Sono stati] più di due e un mezzo anno da quando siamo arrivati ​​a questo punto … Quindi questa è davvero, davvero eccitante.

Con il contesto in termini di prezzo fissato, lo stratega crittografico evidenzia perché la recente chiusura settimanale è un forte segnale rialzista

“Il motivo per cui da un punto di vista tecnico questo è estremamente prezioso ben oltre il valore di qualsiasi indicatore che potresti utilizzare nei tuoi grafici è perché questo è stato un punto di resistenza significativo per Bitcoin per un lungo periodo di tempo, ovunque tra la gamma superiore di $ 11.000 Di nuovo qui nel febbraio del 2018, qui a luglio e giugno del 2019 e anche qui nell’agosto del 2020. È probabile che questo intervallo tra il range superiore da $ 11.000 a $ 13.000 sia stato un intervallo di resistenza contestato per Bitcoin più volte.

Mentre i prezzi hanno cercato di riguadagnare a quei massimi di $ 20.000 che abbiamo visto nel dicembre 2017, il prezzo ha lottato per rimanere in quella fascia e infatti, ogni volta che è arrivato in questo intervallo, è stato rapidamente venduto da persone che avevano acquistato Bitcoin e alla fine ha preso profitti sulle loro posizioni, dove la pressione sul lato vendita ha cominciato a prevalere sugli acquirenti. Questa volta, non c’è davvero molta pressione da parte dei venditori. Questo è il fattore importante qui: come [il] prezzo sta tenendo “.

Dapper Labs raises $ 18 million for Flow, its blockchain focused on NFTs

Startup behind CryptoKitties and NBA Top Shot, Dapper Labs has just raised $ 18 million for the development of Flow, its blockchain focused on non-fungible tokens (NFTs).

Dapper Labs , creator of CryptoKitties and a startup known for creating blockchain- based entertainment experiences , has just completed its public fundraiser

In order to support the development of its own blockchain, Flow , Dapper Labs just collected $ 18 million from 13,200 participants . This fundraising took place on CoinList , a platform for investing in Bitcoin Circuit projects.

This sale gave investors the opportunity to purchase FLOW tokens, the native blockchain asset that is used by validators, developers and network users.

The sale took place in two phases: a community sale and an auction. The community sale ran from September 21 to October 2, and each investment was capped at $ 1,000 , or 10,000 FLOW .

The tokens obtained through this sale are subject to a blocking period of 2 years, during which half will be released at the end of the 1st year and the rest during the 2nd year in a linear fashion.

In the second sale, investors submitted bids over a 12-day period to share 2% of the Genesis block, or 25 million FLOW . During this uncapped sale, the price of the FLOW token closed at $ 0.38 .

An already resounding success

Dapper Labs’ new flagship game, NBA Top Shot , is already enjoying great success. During its private beta, the blockchain game notably generated more than $ 2 million in revenue for Dapper Labs.

Open to the public since October 1, NBA Top Shot already attracts a large number of basketball fans and offers significant visibility to the world of NFTs .

After the explosion of decentralized finance (DeFi), the crypto-sphere seems to be turning to the world of NFTs, true digital collectibles in blockchain sauce.

At the heart of NFTs since the creation of CryptoKitties in 2017, Dapper Labs is one of the players most inclined to benefit from a potential increase in visibility in this sector.

This significant fundraising for its Flow blockchain is therefore not so surprising, as it focuses on the creation of solutions adapted to NFTs.

Last August, Dapper Labs had already raised $ 12 million for NBA Top Shot from the investment arm of Coinbase , Andreessen Horowitz , and several NBA stars.

Dapper Labs is now a long way from its flagship creation, CryptoKitties. The startup is now tackling a whole section of the blockchain, namely NFTs. With Flow, creating and implementing NFTs in applications is made much easier, which encourages developers to implement them in their games .

Mostly created on Ethereum , NFTs are enjoying a breath of fresh air with the deployment of Flow, this blockchain providing a cheaper and more scalable alternative for these digital objects.

More investors do HODL in Bitcoin in anticipation of a 2021 boom market

Network data shows an increase in HODLing among Bitcoin retail investors who expect BTC to recover in the first quarter of 2021

More investors do HODL in Bitcoin in anticipation of a 2021 high MARKET NEWS

New data shows that current Bitcoin ( BTC ) price action is showing higher levels of ‘HODLing’ activity than previous bullish cycles.

According to the Willy Woo network analyst, an indicator called ‘reflectivity’ has been increasing in recent months. Woo explained that the indicator measures the tendency of Bitcoin investors to keep their BTC as its price rises. It is essentially an alternative way to assess the HODLing activity of retail investors.

Bitcoin market capitalization gain per dollar invested or reflectivity. Source: Willy Woo
This next race may eclipse the previous cycle
There are several reasons why retail investors may be holding onto their BTC even more than in previous bullish cycles.

Bitcoin price in flux: bulls target $11,500, bears want drop to $9,800
If Bitcoin goes up in 2021, most investors will see this as a high post reduction by half. Historically, BTC has recovered 12 to 15 months after each reduction by half, registering a new historic high each time.

Based on BTC’s tendency to rebound after halving, retail investors may be maintaining it as a strategy to prevent prices from being eliminated if a strong sustained rise begins.

Bitcoin has also shown a surprising level of resilience in several potential black swan events. After its initial recovery from the pandemic-induced crash in March, it remained above $10,000 despite several negative events.

More recently, the price of Bitcoin plummeted after the US Commodity and Futures Trading Commission (CFTC) accused BitMEX of violating the Banking Secrecy Act.

Visa, Goldman Sachs and Mick Mulvaney join leading blockchain trade association
After the CFTC announcement, the price of BTC fell below $10,500 but quickly recovered to the $10,700 support level. According to Woo, this is possibly due to the confluence of the two key factors. Woo explained :

“This [reflexivity] is the tendency for HODLers to hold their currencies harder as the price increases. I had expected reflectivity to increase during the mania phase of BULL markets, but it seems quite constant in the last two cycles … This cycle is interesting; reflectivity is increasing rather than static compared to the last cycles. Although we now need more invested capital to obtain similar% gains in price, the effect of HODLers holding currencies harder is amplifying the ‘number goes up’ per dollar invested. ”
On the way to the fourth quarter, industry executives believe that the US presidential election could benefit Bitcoin and positive HODLing data could further boost the price of BTC.

The US presidential election and the fourth quarter could push up the price of BTC
Industry executives and prominent investors in the cryptomaniac industry are predicting the next presidential election in November to benefit Bitcoin.

Unprecedented balance sheet shows Bitcoin’s appreciation above 180% in the first half of 2020 only
Su Zhu, the CEO of Three Arrows Capital, said a Democratic sweep would catalyse Bitcoin due to several macro factors. He also suggested that a second term for Trump could also benefit Bitcoin. He wrote :

“Biden is extremely optimistic for the BTC because the Democratic blue wave could inaugurate the unprecedented installation of the MMT agenda with weakness and corresponding dollar deficits. With this, Trump is also optimistic. ”
As the Cointelegraph reported earlier this week, traders, including Peter Brandt, believe that the longer-term charts point to a strong uptrend for Bitcoin. The combination of favourable techniques, strengthening fundamentals and increased HODLing activity could drive a BTC bullish run in 2021.