Stadt Daten

Monat: Oktober 2020

„The best currency ever created“ – This Wall Street boss holds $235 million in Bitcoin, and he says so!

Bitcoin fan also privately – Michael Saylor, CEO of MicroStrategy, recently explained his complete change of perspective on Bitcoin (BTC). Saylor also revealed today that he had bought BTC as a private individual, even before his company did.

Michael Saylor, the CEO who HODL 17,732 BTC
Over the past few months, this news has been making regular headlines in the media cryptosphere: the multinational MicroStrategy has announced that it has successively purchased a total of 38,250 bitcoins – about $500 million at current prices.

But even before his company embarked on the path of cryptography, CEO Michael Saylor had already acquired a nice bundle of Bitcoins for his own account:

„Some people have asked me how many BTCs I own. Personally, I bought 17,732 BTCs at an average of $9,882 each. I informed MicroStrategy of these holdings before the company decided to buy Bitcoins for itself. »

With a present value of nearly $235 million, Michael Saylor has already achieved a nice potential capital gain on his personal investment in Bitcoin – in the order of $60 million.

Between the CEO and his company, these two entities alone hold 0.27% of all the Bitcoin that will exist – and about 0.3% of the current supply.

Further massive BTC purchases in the pipeline
Michael Saylor considers Bitcoin to be an exceptional creation, as his Crypto Bank  interview by the crypto-media company The Block clearly shows:

„I believe in Bitcoin. I think it is one of the most extraordinary achievements in the history of the world. The best currency ever created. It can become 100x bigger than it is today. »

It is probably for this reason that the CEO has just announced, during an online conference on MicroStrategy’s third quarter results, that his company has decided to implement a new cash reserve policy focused on bitcoins.

„(…) Bitcoin will be the company’s primary cash reserve asset for capital in excess of our working capital requirements. »

MicroStrategy is therefore expected to make further significant purchases of BTC in the near future, as the company is regularly in surplus earnings.

Bitcoin has found a new support of choice with Michael Saylor and his large company. Even if MicroStrategy’s massive purchases of Bitcoin are made on a private basis, to avoid any violent upward price slippage, this remains a very positive sign of interest for the king of cryptos.

These are the 2 reasons why traders say that the $13,875 level will be the next „logical“ resistance of the Bitcoin price

The Bitcoin price is moving towards USD 14,000, but traders expect the USD 13,875 resistance to be a critical level in the short term.

The Bitcoin price (BTC) has surpassed USD 13,745 and is now on its way to the next major resistance level. Traders have hinted that the USD 13,875 is the next key short term area for BTC for two reasons.

First, Bitcoin peaked at USD 13,970 on June 26, 2019. Technically, the previous high reached over a year ago still acts as an important area for traders.

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Secondly, technical analysts say that Bitcoin’s weekly candlestick chart indicates that USD 13,875 is the next „logical resistance“.

The most important factor will be how Bitcoin’s price responds after reaching the long-awaited resistance level, and it’s possible that it will improve its short-term performance until the end of this year.
Should investors expect a big drop near the $14,000 level?

Over the past few days, predictions of a large Bitcoin retracement have been increasing as market sentiment becomes more euphoric.

Historically, even in the midst of large upward cycles, Bitcoin experienced healthy corrections that further strengthened its upward trend.

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Edward Morra, a well-known cryptomoney trader, said he expects a market reaction of USD 13,875. The last time BTC reached that level 16 months ago, it saw the price plummet in a short period.
Weekly chart of the BTC/USD pair Source: TradingView.com, Edward Morra

This time, traders do not expect such a sharp drop, but they do expect a strong reaction from BTC and the market in general. Morra said:

„On the longest time frame chart, this weekly level ~ $13,875 is the next logical resistance. He rejected the 2019 rally strongly, the second test will be less violent, but I think there will be a reaction. Getting that ’19 high in the weekly supply is something to look out for.

Last week, Bitcoin tested many key resistance levels in a short period of time. However, it easily surpassed those levels, consolidating above each one and demonstrating a steady climb.

This is the last big hurdle before Bitcoin’s price reaches $20,000.

For buyers, the ideal scenario for Bitcoin would be to exceed the $13,875 level and remain stable above it. Such a pattern would indicate a healthy recovery from a multi-year resistance level, which is very optimistic.
Additional Factors Behind the Bitcoin Boost

There are two fundamental, macro factors that could catalyze Bitcoin’s momentum in the short term: decoupling from the U.S. stock market and inactive supply.

As Bitcoin investor James O’Beirne pointed out, BTC decoupled itself convincingly from the U.S. stock market in October.

Bitcoin’s price approaches USD 13,500 as a CEO looks for new record highs in 3 months

Due to the lack of a stimulus package, the uncertainty surrounding the 2020 election and the large increase in COVID-19 cases, the U.S. stock market has been steadily falling. At the same time, Bitcoin has recovered strongly and sentiment around the leading digital asset has improved significantly.
Bitcoin’s inactive supply. Source: CoinMetrics.io

According to CoinMetrics, the inactive Bitcoin feed, which has been maintained for at least 1 year, reached a new all-time high. The researchers said:

„The% of the BTC supply maintained for at least 1 year has never been so high. This is bullish for BTC, especially considering that this metric historically peaked during periods when the price was at local lows“.

These 3 key indicators indicated that the price of Bitcoin peaked at $12,000

The confluence of positive fundamentals, macro and technical factors, along with an optimistic longer-term technical framework structure, increases the probability that Bitcoin will reach USD 13,875 without experiencing a massive correction.

Bitcoin-Versorgung auf 22-Monatstief: Wie sieht Ihr Plan aus?

Das aktive Angebot von Bitcoin mit einem gleitenden 1-Tages-Durchschnitt hat ein 22-Monatstief erreicht. Das letzte Mal, als das BTC-Angebot auf dieses Niveau fiel, lag der Preis im Bereich von $3,5 bis $3,7 Tausend. Seit der letzten Septemberwoche 2020 haben die Bergleute mit dem HODLing begonnen, und dies hat die Dynamik des Angebots verändert. Der BTC-Zufluss an die Börsen ist seit Anfang Oktober 2020 mit 409 Millionen Dollar um 65% gesunken.

Auf der Grundlage von Daten aus der Kettenanalyse hat sich ein Muster des Bitcoin-Zuflusses zu den Börsen herauskristallisiert, und wenn diesem Muster gefolgt wird, könnte das Angebot in den nächsten Tagen/Wochen steigen. Wenn es sich jedoch auf diesem Niveau fortsetzt, müssen Einzelhändler möglicherweise ihre Strategie ändern. Wenn das BTC-Angebot an den Börsen niedrig ist, was einer geringen Nachfrage entspricht, gibt es Raum für Preismanipulationen durch Wale / HODLers.

In den vergangenen zwei Tagen gab es Fälle, in denen HODLers Bitcoin, die im Dezember 2017 und Januar 2018 gekauft wurden, verkauft haben. Da das Volumen gering ist, wird die Preismanipulation an den Spot-Börsen einfacher. Auf der anderen Seite haben Wale bzw. Institutionen ihre Aktivitäten an Terminbörsen wie CME reduziert, und das Handelsvolumen war im gesamten September mit Ausnahme einiger weniger Tage gering.

Im Gegensatz zu Terminbörsen reichen Aufträge an Spot-Börsen in der Größenordnung von 3-5k BTC aus, um den Preis zu verändern. Wenn das Angebot niedrig ist, ist die Volatilität hoch, und dies wirkt sich auf die Strategie der Privatanleger aus. Wenige große Aufträge reichen aus, um Panikkäufe und -verkäufe von Kleinanlegern zu starten. Dies war bereits beim Ausverkauf vom 12. März der Fall, als Kleinanleger mit Panikverkäufen begannen. Auf solche Ereignisse folgt jedoch ein weiterer Kursrückgang, wenn es zu einem massiven Rückkauf kommt.

Der Mitbegründer einer App für Spielclips und der Tweet des Krypto-Händlers Posty verdeutlicht ein solches Szenario.

Um Ihr Portfolio vor solchen Ereignissen zu schützen, ist es ratsam, den Markt und die Börse zu lesen, bevor Sie einen Schritt machen. Wenn Sie risikoscheu sind, ist ein Markt mit geringem Volumen/hoher Volatilität möglicherweise nicht Ihre beste Wahl. Ziehen Sie stattdessen in Betracht, Ihre Investitionen weiter zu diversifizieren und ein Day-Trading-Portfolio mit Vermögenswerten aufzubauen, die in den Top 25 der Marktkapitalisierung rangieren und ein hohes Handelsvolumen aufweisen. Der Rest kann in Bitcoin Trader investiert werden. Für Händler, die an eine risikoreiche Belohnung glauben, wäre dies jedoch das Gegenteil, und dies könnte der beste Zeitpunkt sein, Ihren Anteil an Bitcoin zu erhöhen. Es besteht die Möglichkeit, dass es zu einer plötzlichen Preisänderung kommt, da große Aufträge die Charts auf diese oder jene Weise verzerren.