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Why one analyst says Bitcoin ‘is on the cusp’ of busting through $20K

The market sentiment around Bitcoin (BTC) is mixed as BTC price dropped almost immediately by 10% right after hitting its previous all-time high at $19,892 on Dec. 1.

Nevertheless, some analysts and fund managers anticipate the dominant cryptocurrency to rise past $20,000 in the short term. But others are adamant that there will be another correction first as seen in previous bull cycles...

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https://ecoindiscuss.com/why-one-analyst-says-bitcoin-is-on-the-cusp-of-busting-through-20k/

Here’s How Bitcoin Could Spark a Massive Move Higher for Smaller Altcoins

Bitcoin has been guiding the entire market throughout the past few days and weeks, which has subjected altcoins to immense volatility.

Yesterday morning, BTC rallied as high as $19,800, which marked an all-time high on some exchanges.

Despite being a historic moment, bears still tried to fade the move and sparked a strong rejection at this level. This led BTC down to lows of $18,200 before it found some strong momentum and rallied significantly higher...


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Bitcoin’s All-Time High Price Rally Is Sustainable. Analysts Explain Why



While some near-term pricing correction is likely to be expected, analysts who spoke to CoinDesk said bitcoin’s latest rally will be more sustainable for the long term compared with 2017, the last time bitcoin’s price hit an all-time high.

One difference from the last bull run? The current market has gained support from a new wave of institutional investors mainly based in North America.

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https://ecoindiscuss.com/bitcoins-all-time-high-price-rally-is-sustainable-analysts-explain-why/

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Three Billion Huawei Users Will Receive Access To BitTorrent Applications

he large torrent platform BitTorrent, acquired by TRON’s Justin Sun in 2018, has partnered with the Chinese communications giant Huawei. As a result, Huawei will add all of BitTorrent’s applications to several of its mobile phones used in 170 countries.
BitTorrent On Huawei’s Smart Phones

In a press release shared with CryptoPotato, BitTorrent announced that Huawei Mobile Services will add the torrent platform’s four core applications to its ecosystem. Namely, those are BitTorrent, BitTorrent Pro, uTorrent, and uTorrent Pro...

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https://ecoindiscuss.com/three-billion-huawei-users-will-receive-access-to-bittorrent-applications/

As you have seen the beginning of December, so shall you see the end...


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Bitcoin is About to Post the Highest Monthly Candle Close Ever as Bulls Roar

Bitcoin and the entire crypto market have been caught in the throes of an intense recovery over the past few days, with the recent selloff proving to be highly fleeting.

The market’s potent response to this intense decline indicates that some serious upside could be imminent in the days and weeks ahead.

Any extension of this momentum could result in the cryptocurrency seeing fresh all-time highs...


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https://ecoindiscuss.com/bitcoin-is-about-to-post-the-highest-monthly-candle-close-ever-as-bulls-roar/

Despite 12% Crash, Bitcoin Looks Set to Make Highest Monthly Close Ever



Despite the sharp pullback last week, bitcoin looks on track to post its highest-ever monthly price close.

The number one cryptocurrency by market value fell by over $3,000 to $16,242 on Nov. 26, clearing out excess leverage from the derivatives market. The dip was short-lived and prices have recovered more than 50% of the pullback in the days since...

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https://www.nairaland.com/newpost?topic=3131709

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Bitcoin Bulls Keeps Pushing, Why $18.8K is a Key Breakout Zone

Bitcoin Price is Approaching a Major Hurdle

In the weekly analysis, we saw a fresh increase in bitcoin price above the $18,000 level. BTC extended its rise above the $18,200 and $18,400 resistance levels.

There was also a break above the $18,500 resistance. The price traded as high as $18,559 and it is now above the 100 hourly simple moving average. It is currently consolidating gains and trading near the $18,450 level...

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https://ecoindiscuss.com/bitcoin-bulls-keeps-pushing-why-18-8k-is-a-key-breakout-zone/

Here’s the Bitcoin Price that “All the Key Levels” are Currently Pointing To


Over the past few days and weeks, Bitcoin’s price action has done little to provide traders with insight into where the entire market will trend next.

After rallying up to its all-time highs around $19,500, the cryptocurrency faced a firm rejection that caused it to reel as low as $16,400...


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https://ecoindiscuss.com/heres-the-bitcoin-price-that-all-the-key-levels-are-currently-pointing-to/

Why Bitcoin Price Just Surged to $7,000 Ahead of Weekly Close


Ahead of the weekly candle close in approximately eight hours, Bitcoin has embarked on a slight rally higher, retaking $7,000 just minutes ago as of the time of this article’s writing. With this, the cryptocurrency has rallied some 3.5% from the weekend low, but remains 7% below last week’s local high at $7,470...


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https://ecoindiscuss.com/why-bitcoin-price-just-surged-to-7000-ahead-of-weekly-close/

[b]Here’s Why Bitcoin May Need to Tap $13,000 Before Continuing Its Uptrend[/b


Bitcoin has done a full 180-degree turn, with the cryptocurrency’s previous upwards momentum now degrading as bears aim at sending it significantly lower.

The selling pressure seen as a result of the rejection at $19,500 is undoubtedly what sparked this movement, but a couple of other factors have perpetuated it...


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https://ecoindiscuss.com/heres-why-bitcoin-may-need-to-tap-13000-before-continuing-its-uptrend/

Data shows Bitcoin price drops days after BTC futures open interest hits $1B


There was a time when BitMEX derivatives exchange reigned sovereign over other exchanges, and the company effectively held a 50% market share until July 2019. For this reason, traders kept a close eye on every indicator connected to BitMEX, including its funding rate, open interest, and basis.

Open interest measures the total number of contracts held by market participants. As the figure rises higher, so does the potential size of liquidations. On Aug. 2, a $1,400 crash happened as $1 billion in futures contracts were forcefully closed due to insufficient margins...

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https://ecoindiscuss.com/data-shows-bitcoin-price-drops-days-after-btc-futures-open-interest-hits-1b/

The Sales You Better Not Miss


Black Friday is the day shoppers anticipate the most. Being regarded as the beginning of the Christmas shopping season in the US since 1952, Black Friday has also infiltrated almost every country with significant discounts on clothing, consumer electronics, home utilities, and more...


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https://ecoindiscuss.com/the-sales-you-better-not-miss/

Bitcoin Expects to Fall by Another $3,000, Asserts Veteran Trader

A flurry of historical Bitcoin fractals suggests that Bitcoin will continue its decline by another $3,000.

Veteran trader Peter Brandt made the bearish call in a tweet published Thursday, hours after Bitcoin fell by up to 16.31 percent from its local high of $19,500. He added that the cryptocurrency might extend its downside correction until it hits the lower $14,000 levels, citing similar bearish moves during the 2015-2017 bull run. Excerpts:...


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https://ecoindiscuss.com/bitcoin-expects-to-fall-by-another-3000-asserts-veteran-trader/

Wallets with less than 1 BTC account for just 5% of Bitcoin’s market cap


New data suggests that “wholecoiners” — Bitcoin wallets holding 1 BTC or more — now account for 95% of the cryptocurrency’s entire capitalization. That leaves just 5% of the market cap divided among tens of millions of users with a balance below 1BTC.

The total number of wholecoiner addresses has steadily increased year-over-year since 2009, despite BTC’s astronomic price rallies. On Nov. 27, Glassnode CTO Rafael Shultze-Kraft tweeted a chart revealing that more than 800,000 addresses currently hold at least 1 BTC...


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https://ecoindiscuss.com/wallets-with-less-than-1-btc-account-for-just-5-of-bitcoins-market-cap/

How much should one Bitcoin be worth to match market cap of Apple, Amazon, Gold?


A lot of numbers for the future price of Bitcoin have been thrown around recently, but most of them have been presented without context. The following article will focus on Bitcoin’s achievements, putting them in the context of traditional world assets.

The first thing that comes to mind is gold due to its similarity with Bitcoin and vice versa. Clearly, gold’s market cap and S2F ratio are much higher than that of Bitcoin. Does that mean Bitcoin will not reach it?...


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https://ecoindiscuss.com/how-much-should-one-bitcoin-be-worth-to-match-market-cap-of-apple-amazon-gold/