• Bitcoin and the entire cryptocurrency market have been caught in the throes of an intense uptrend throughout the past few days
• Bulls have been aggressively propelling the cryptocurrency higher, with BTC now pushing past its key $19,000 resistance level
• The selling pressure here has proven to be quite intense, making the firm break above this level technically significant
• If the cryptocurrency can hold above $19,000 for an extended period of time, it could be a sign that upside is imminent for the token
• One trader is now noting that there is one reason for concern, with one key level potentially acting as a magnate that will spark a 30%+ dip

Bitcoin and the aggregated crypto market are in a clear and firm bull market. Sellers have been unable to control its recent trend, with it only facing a few fleeting pullbacks.

The fact that each dip is met with such aggressive buying pressure signifies that serious upside could be imminent in the near-term.

Although BTC will surely face some resistance around its all-time highs, there’s a strong possibility that it will plow through the sell orders here once retail “FOMO” kicks in.

One trader is noting that it may first need to retest one key technical level before posting any significant rally higher.

Bitcoin Rallies Past $19,000 as Uptrend Continues Strong

At the time of writing, Bitcoin is trading up just over 4% at its current price of $19,200. This is around where it has been trading throughout the past few hours.

It does appear to be fairly stable above this price level, as sellers have yet to spark any intense selloff.

This could be a positive sign that indicates further upside is imminent, although the selling pressure around its all-time highs in the upper-$19,000 region may be what causes it to see a firm rejection.

Analyst: BTC Could See a Strong Pullback Before Pushing Higher

One trader believes that Bitcoin may need to test its 200-day MA before breaking above its all-time highs.

This could mean that a dip as low as $13,000-15,000 could be imminent in the days and weeks ahead.

“BTC: Something to be aware of: In 2017, the 200dMA underpinned the entire trend. We haven’t retested it in a while – wouldn’t be surprised to see a 30-35% dip in late Dec/early Jan to retest it as support for the next leg higher to $21k+.”

Image Courtesy of Nik Patel. Source: BTCUSD on TradingView.

The coming couple of days should provide insight into whether this pullback will occur or if BTC will continue its parabolic advance higher.

Featured image from Unsplash.
Charts from TradingView.

Earlier this year, DeFi exploded to the unseen heights. From a humble beginning at the start of this year, it progressed to the value exceeding the initial one by thousand times. This all serves as a proof of the increasingly important role that DeFi starts occupying in our lives. Right now, the field is close to bringing the revolutionary change to many areas of our lives – and financial management is just one area to mention.

Despite this fact, the gap between traditional financial markets and a newly-born fetish of decentralized finance remained open. While DeFi is only in its infant stage, the stock market is still a preferred way for companies to trade their value and attract investment flow. This may explain why the sizes of these two are so different – the size of the US stock market is $217 trillion, which seems like a mammoth value compared to the humble $14.41 billion stored in DeFi. But now, there comes a solution that stores a promise to build a bond between these two realms and even merge them into one – its name is OpenDAO.

The bridge between DeFi and the world of real finance

By surpassing the boundary of DeFi, OpenDAO steps on a stage of the real world and aims to make the highest-volume traded stocks available to all DeFi enthusiasts. These include big tech like Facebook, Tesla and Apple, also adding the exposure to illiquid assets like real estate.

This goal is accomplished in two ways: first, OpenDAO came up with its original stable coin, whose value is based on real-world collateral transformed into a tradeable token. Second, by partnering with various individuals and investor groups, and by automating whenever possible, OpenDAO secures the presence of these off-chain assets on their on-chain platform.

What’s even more noteworthy, OPEN is one of the rare tokens fully entrusting the reins of its governance to the hands of the public. That means, once the token is acquired through the open exchange, its possessor has a chance to define its further fate. All users can exercise their voting rights and make a collective decision on which types of assets are to be taken on board in the next round of investment. This segregates OPEN token out of numerous market alternatives, making it an extremely liberal asset ready to hear the voice of investors. 

Cash Box and OPEN staking 

The challenge with the abovementioned scheme is the long-term stability of the liquid resources within the platform – especially when it concerns open decentralized exchanges based on the model of Uniswap.

To overcome this difficulty, OpenDAO came up with two solutions: Cash Box liquidity mining and OPEN staking. The first one of them, Cash Box, is storage where liquidity providers supply various stablecoins (e.g. USDC and USDT) that together serve as a back-up of real-world assets. Another one, OPEN staking, encourages the participants to participate in a yield farming program that brings generous API rewards of 13%-20%.

This all allowed creation of Open Market, a decentralized exchange facilitating the free swaps of digital assets for the real-world collateral. This platform gives an opportunity to earn high interest on assets that are projected to give a rise of up to 100x times.

These prospects altogether bring OpenDAO to open a new horizon of decentralized finance. Apart from being able to get possession of a community-governed token, users can also participate in a free exchange of assets on a democratized platform facilitating a direct swap between participants. OpenDAO created a new realm where DeFi and traditional finance live in close unity, and a long-lasting partnership between DeFi and traditional finance is finally achieved.

Image(s): Shutterstock.com

The post OpenDao Takes DeFi One Step Further by Introducing Top-Notch Stocks in a Tokenized Format appeared first on NullTX.

Bitcoin is the best performing mainstream financial asset of 2020 and of the last decade. No other asset since its inception has brought investors a larger return on their initial capital. And at this point, there is only one day where the cryptocurrency traded at higher prices. If Bitcoin price can close at current levels, it’ll set a new record for the most profitable month in history in terms of the candle body.  

Here’s why this is significant and why it could be the norm moving forward in terms of month over month gains with a new bull market upon us.

November To Remember: Bitcoin Price Revisits Previous All-Time High

Bitcoin price is currently trading over $19,400 and is less than $600 away from setting a new all-time high peak on even the highest possible exchange price from 2017.

The leading cryptocurrency by market cap began the month breaking above its 2019 high and went parabolic from there. The 40% single-month gain has brought the cryptocurrency to a point where only one day remains where buying the cryptocurrency wasn’t profitable.

Only a wick above current levels remains on the daily ATH candle close | Source: BTCUSD on TradingView.com

And with the momentum that Bitcoin has at its back, a new record could be set today or at any point in the very near future. A correction cannot be ruled out, especially when nearly every investor that owns some sitting in some type of profit.

RELATED READING | HOW SATS STACK UP: COMPARING THE MILESTONE $335B BITCOIN MARKET CAP

But any downside is likely to be short-lived given the cryptocurrency’s scarce 21 million BTC supply, and sudden drastic shift in demand over the last quarter.

All Eyes On The Critical Cryptocurrency Market Monthly Close

With Bitcoin price trading at such prices, November is now the most profitable month in terms of candle body, in the cryptocurrency’s history. November will indeed to be a month to remember if the cryptocurrency can close at these levels.

RELATED READING | FOMO BEGINS: BITCOIN ADOPTION EXPLODES TO HIGHEST LEVEL SINCE PREVIOUS PARABOLIC PEAK

It will have broken a new all-time high for its market cap, potentially set a new price peak as well, and set the tone for what’s to come.

Bitcoin will close its most profitable month ever above $17,780 in total USD movement | Source: BTCUSD on TradingView.com

After Bitcoin broke its former all-time high in 2017, $500 and $1,000 monthly candles became the norm. While the $5,000 monthly candle might be shocking by current standards, they too could become a normal occurrence in the cryptocurrency market from here forward.

The last time Bitcoin cleared its all-time high, it never again traded at prices below it. Is this history in the making once again?

Featured image from Deposit Photos, Charts from TradingView.com

• Bitcoin has seen extreme intraday volatility over the past few days.
• In the past two days, the coin has traded at both $17,500 and $18,800.
• Analysts don’t know what exactly to think about this price action.
• Prominent Bitcoin trader “Jack” recently shared the sentiment that he thinks this market is “wild.”

Bitcoin Undergoes Confusing Price Action Amid Volatility

Bitcoin has seen extreme intraday volatility over the past few days. In the past 48 hours, the leading cryptocurrency has traded at both $17,500 and $18,800 as the market whipsaws between key price levels.

As of this article’s writing, the price of the leading cryptocurrency is sitting at $18,500, though in the past hour, it has been at both $18,400 and $18,700. This extreme volatility comes as the U.S. dollar has begun to move lower once again, boosting Bitcoin, gold, and other harder assets.

Analysts don’t really know what exactly to think about this price action, though.

Prominent Bitcoin trader “Jack” recently shared the sentiment seen below, arguing that he thinks this market is “wild.”

Wow this market is wild

— //Fiat ?ack (@BTC_JackSparrow) November 23, 2020

He previously said that he has temporarily gone short on Bitcoin, at least to some extent. He may not be fully short but may be hedging in case the cryptocurrency moves lower in the days ahead.

The trader shared the chart below, which shows that Bitcoin is currently breaking below the parabolic supports that led the rally higher. Parabolic supports breaking in an uptrend are a sign that the rally is in the midst of getting exhausted.

Chart of BTC's price action over the past few months with an analysis by crypto trader "Fiat Jack" (@BTC_JackSparrow on Twitter) 
Source: BTCUSD from TradingView.com

Bulls in Control

Many say that Bitcoin bulls remain in control over the longer run. A senior analyst at Citibank, Tom Fitzpatrick, recently said that the fundamental case for the leading cryptocurrency is still strong despite any

“Bitcoin moves across borders easily and ownership is opaque. That last point is, I believe very relevant. The huge Fiscal deterioration of today has a cost in the future, either directly or indirectly. Directly it is that at some point the ‘bills have to be paid’, which means […] the money needs to be found.”

Dan Tapiero, a prominent macro investor, recently commented on Bitcoin’s outlook from here as well:

“First time I can recall #Bitcoin included in list of macro assets by BoAML blue chip fund mgr survey. Can’t imagine #btc does not outperform all other assets. Fastest horse! It’s so early for btc that it is only NOW being included and that’s AFTER 11yr +250% annualized perf.”

Analysts are optimistic that Bitcoin will continue higher in the longer term, whether or not a correction takes place.

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Analysts Don't Know What to Think as Bitcoin Whipsaws Between $18k and $19k

The marquee asset of cryptocurrencies is Bitcoin. The mildly informed have heard of Ethereum and maybe Ripple with it’s token XRP, but there are actually some 6000 listed cryptocurrency/blockchain projects with more showing up every day. As a new asset class, it is not without growing pains, and chief among them is liquidity. Wall Street has long decried the barriers to entry in crypto overall but has now, grudgingly perhaps, come to embrace Bitcoin and to a lesser extent, Ethereum. Still, their participation in anything is virtually non-existent. 

The difficulty in investing in cryptos are storied and often exaggerated. Their risks of hacks and the difficulty of navigating the blockchain are known and real enough but this is not a deterrent to the technologically savvy and investment banks have dedicated tech departments. So what’s keeping them out of game-changing projects that have a far bigger upside than Bitcoin? Liquidity. There is simply not a large enough market to trade, and the insufficient volume has wrought havoc on the space. Historically, trading in all but the biggest crypto assets could move the market. It has been rife with manipulation and has turned many a trade into long-term depreciating, involuntary investments. 

So what about the rest of these 6000 plus projects? Without needed demand to induce active trading for their token has left founders watching a volatile asset while contending with nonplussed supporters. Without needed price discovery and the ability to easily move in and out of trade positions, these assets suffer and the space gets something of a black eye. 

Greater Challenges

Current conditions have obviously impacted individual investors; many left holding a basket of assets that couldn’t be sold down at a reasonable price. The bigger issue is that this condition greatly affects those at the helm of these projects. Truly transformative technologies are forced to focus on short-term actions that will spark interest while trying to build the Web3 and deliver on the promise of a decentralized future. The space itself is unique in the sense that it is largely unregulated and individuals can invest in projects at the earliest stages imaginable and trade the asset within days. 

Resultant of this, capital is continually redistributing as investors are often as immature as the asset class itself. The lack of inflow-outflow has hampered countless startups who desperately need support to survive. This is a problem inherent to the space with early-stage investments as market-traded assets and the subsequent challenge they face in trying to build momentum. 

Compounding the issue is the perception it creates for potential adopters. Many people are still not comfortable holding crypto assets and its reputation for hacks, manipulation, and illiquid markets only slow adoption. In the last two years, decentralized exchanges (DEXs) like Uniswap cropped up and injected some badly needed liquidity via the use of automated market makers. Other platforms like Kyber and Balancer have shown promise that these assets can be successfully traded as well. However, the supply of tokens still outweighs demand, and assessing the fundamentals of a project requires a level of education most don’t have.  

A Potential Solution

Cue Bonded.Finance. Their mission is to eradicate liquidity concerns and stabilize the overall market. Given the collective market cap of tokens not named Bitcoin, there is an untapped value that, to date, has gone unexploited. Their value proposition is simple— the fintech platform aims to introduce “exotic” DeFi instruments which will allow investors to lock their tokens in a smart contract and earn interest; effectively killing two birds with one stone. It gives those with a long view a reason to be patient as earning interest on a volatile asset extends hope while simultaneously removes supply, thereby potentially increasing value.

Their recent partnership announcement with Orion Protocol, a liquidity aggregator that finds the best price for tokens across some 700 exchange marketplaces, suggests they are seeking cutting-edge solutions to the hurdles that such a project might face. 

According to its launch announcement, Bonded.finance estimates US$50 billion are locked in alternative coins that remain “underserved.” The Bonded team’s forthcoming lineup of financial instruments aims to put these overlooked assets to work and make investors more comfortable holding them.

Bonded decided to pursue this after extended experimentation and market observation. Identifying this reserve of non-performing capital is a significant opportunity. In a recent interview, Bonded’s CEO, Paul Mak, highlighted how otherwise great projects lose value, face relentless criticism, and, in some cases, have their communities wither and die.  In Mak’s words, “our smart instruments enable us to repurpose unused capital to offer benefits to longer-term investors, teams, and even to reignite interest in projects that may have fallen off the radar.”

For projects intent on hacking growth or enhancing the utility of their token, Bonded presents an elegant solution. While the future is obviously hard to predict, Bonded has a lot of room to grow. The startup’s public funding efforts concluded with a sold out private sale—with investors contributing US$2.25 million into the project. 

Bonded has also announced numerous partnerships with the likes of REN, Origin protocol, Matic, and most recently, the Orion protocol. Orion, as noted earlier, is particularly interesting as an aggregator of liquidity across the entire market that’s placed onto a single decentralized platform.

Final thoughts

As the total locked value of DeFi crests twenty billion, it impossible to dismiss its value and utility or reduce to it a passing fad. Bonded focusing their DeFi energy onto less-trafficked parts of the crypto ecosystem highlights the breadth and depth of the market while addressing some limitations. Whether they’re able to execute on their vision to “make alts great again,” remains to be seen of course but what Bonded is doing—attempting to bring stability to help offset the growing pains of a burgeoning asset class is certainly not without merit. Crypto is notoriously tribal, but projects like Bonded are good news for anyone interested in helping it mature. In such a volatile marketplace, it could spell the difference between success and failure for some projects. 

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

Bitcoin is looking to retest its all-time high, near $20,000, as Donald Trump authorizes his administration to cooperate with president-elect Joe Biden’s transition team.

The flagship cryptocurrency rose cautiously on Tuesday, hours after the General Services Administration’s head Emily Murphy informed Mr. Biden that Mr. Trump had approved the official government transition process.

The statement came after Michigan certified the election results. The state found no evidence of significant voter fraud, as had claimed by Mr. Trump.

Bitcoin Boom Continues

As of 0755 UTC, the bitcoin-to-dollar exchange rate was up 0.17 percent, much in line with the US stock futures that too climbed in the pre-session trading Tuesday. Futures tied to the benchmark S&P 500 — for instance — ascended by 0.6 percent ahead of the London opening bell. Stocks in Asia surged likewise.

Markets had expressed uneasiness after the sitting US Treasury Secretary Steven Mnuchin refused to extend support to the Federal Reserve’s emergency lending facilities. Analysts noted that Mr. Trump used his human resource tools to constraint Mr. Biden’s administration’s powers to tackle the US economic fallout.

Bitcoin remains one of the biggest beneficiaries of the Fed’s lending programs.

Bitcoin rallies 400% from its mid-March lows. Source: BTCUSD on TradingView.com

The central bank printed about 20 percent of the US dollar bills that has ever existed in 2020 alone. On the other hand, Bitcoin did the complete opposite with an inherent economic policy that cut its supply by half every four years.

Fears of inflation, coupled with negative-yielding debts, pushed investors towards scarcer alternatives like Bitcoin. The cryptocurrency rose by more than 350 percent after the Fed announced its expansionary programs. The Trump administration attempted to end a big part of those aids, thus hurting Bitcoin’s further bullish prospects.

The GSA statement eased a pressing source of uncertainty for investors about the smooth White House handover to Mr. Biden. Robert Rennie, global head of market strategy for Westpac, told FT that the transition would limit the impact of Mr. Mnuchin’s decision.

Stimulus Package

A clear transition for Mr. Biden further paved the way for the long-pending coronavirus relief package.

The president-elect has earlier committed to increasing government spending to tackle the rising unemployment alongside COVID-19 infections. Should the Democrats win a majority in the Senate and Congress, the second stimulus package will face no political resistance.

Retail and institutional investors (read PayPal) have increased their Bitcoin exposure against a similar outlook. More stimulus reduces the US dollar’s purchasing power. It turns more people towards the safety of scarce assets like Bitcoin, so says Alex Mashinsky of Celsius Network. Excerpts:

“People must understand that there is no return in bonds, and they carry many risks. And buying into the stock market at all-time highs in the middle of a pandemic and a recession does not sound like an appetizing proposition.”

That somewhat justifies why Bitcoin would retest $20,000 by the end of this year — or in the first quarter of 2021 on tops.

22/11/2020, Providence, Seychelles – Digitex Ltd, a commission-free crypto futures exchange, has announced a large spike in liquidity on its Uniswap market just days after launching its DGTX Rewards Program that pays out one of the highest APYs in the industry, currently at around 90%. The high amount of locked ETH and DGTX in its Uniswap market translates into more than $1.58 million held in the DGTX Rewards wallet; a sign that confidence is high in the project ahead of its rebrand to Digitex City next month.

Decentralized Finance (DeFi) and protocols like Uniswap have taken protagonism in the crypto space throughout 2020 for their high rates of return particularly compared to traditional finance where interest rates are hovering around zero. These attractive returns have caused a great deal of attention among investors, but have also led to widespread loss of funds caused by technical errors or rogue projects.

As a three-year-old company with a popular commission-free futures exchange operating now for almost 12 months, Digitex is offering investors a safer way to get involved in DeFi-style initiatives without the worry of investing in bootstrap code or fly-by-night exit scams. From within the DGTX Rewards dashboard, the user can manage the whole process efficiently and easily, following the simple steps to connect Metamask, create pool tokens on Uniswap, and deposit them into the DGTX Rewards wallet to start accumulating rewards.

In order to mark the initiative and incentivize on-chain liquidity, Digitex is giving away a massive 5 million DGTX in rewards shared out proportionally among participants, who receive more according to the amount they stake and the longer they stake it. Digitex founder Adam Todd commented:

“We’re really pleased to see so much interest in this program and to offer our community members another way of making money besides trading. We realized quite quickly after launching the exchange that not all our community members are traders, so this is a great way to give back to them. It’s also just the start of a host of many such initiatives designed to make users’ crypto work for them that will be coming when we launch Digitex City next month.”

Designed as a place where crypto enthusiasts can trade, play, and connect, the Digitex City promotional website is currently live and housing the DGTX Rewards Program. However, upon its full launch on December 15, it will kick off with a zero-fee futures exchange, spot market, no-spread forex market, and various DeFi-inspired money-making opportunities from DGTX Staking and DUSD creation to liquidity mining. There is also an interconnecting social network unlike anything that exists in the crypto space currently, and several games coming to the Play area, which will grow to accommodate a no-rake poker room and no house edge casino in 2021.

For more information about the DGTX Rewards Program or to sign up for the waitlist for Digitex City with the chance to win various different prizes, please visit digitexcity.com.

About Digitex Ltd

Digitex Ltd is a zero-fee cryptocurrency exchange with its native DGTX token. The exchange’s flagship product is futures, however, it will be launching spot market trading and no-spread forex all fuelled by its crypto-backed stablecoin DUSD coming in December 2020. Registered in the Republic of Seychelles, the company was founded by a former futures trader and betting-exchange trader and has developed a revolutionary token issuance revenue model for sustainably operating an exchange without charging commissions.

The post DGTX Liquidity Spikes on Uniswap with DGTX Rewards Program appeared first on NullTX.

A paused Bitcoin price rally has increased its probability of undergoing a major pullback, as per independent analyst Vince Prince.

The TradingView.com contributor said Monday that there is a 35 percent chance that the Bitcoin price falls in the coming sessions, citing a textbook technical indicator that foresees bearish reversal patterns.

Dubbed as Head and Shoulder, the pattern appears during an asset’s uptrend. Traders confirm it when they see the formation of three peaks atop a support-like baseline. The middle peak is taller than the other two, making it look like a head hanging atop two shoulders at each side.

Bitcoin H&S pattern, as highlighted by Vince Prince. Source: BTCUSD on TradingView.com

The H&S patterns typically end up in a breakout below the baseline, with a downside target underneath by as much as the structure’s maximum height. Mr. Prince spotted Bitcoin forming a similar technical setup, with the left shoulder and head fully confirmed and the right shoulder partially established.

“Bitcoin is trading already in overbought zones,” he added. “This does not mean it [cannot] move higher and form new highs. However, the bearish perspective should not be underestimated in any case. Bitcoin is moving into zones where a swift reversal and change in direction can establish more easily.”

If valid, the H&S pattern risked putting Bitcoin about $1,600 below its baseline (the height between the peak and the support). The yellow range in the chart above shows the ideal H&S breakout target range.

Overleveraged Risks in Bitcoin

Mr. Prince’s bearish outlook on Bitcoin received involuntarily support from the cryptocurrency’s futures market. According to Glassnode, the average “funding rate” across all the Bitcoin exchanges rose to levels that suggested traders may have become overleveraged via perpetual contracts.

Measured every eight hours, the funding rate shows the cost of holding a bullish contract, i.e., a Long position. A positive reading indicates that bulls are paying bears. That raises the value of the perpetual contract above Bitcoin’s spot rate. Therefore, a very high funding rate signals leverage being excessively biased in favor of bulls. It is an overbought condition.

Bitcoin is in a weird spot

futures funding rates = very overbought, very overheated
RSI on lower time frames = oversold, esp 4h

Price currently at support, resilient above $18k

— Joseph Young (@iamjosephyoung) November 22, 2020

An event of a pullback in the spot market can lead to mass Long liquidations, which may lead to more price drops and higher volatility.

The Upside Take

But Mr. Prince also believes in a limited corrective downtrend. He noted that Bitcoin could find support at the H&S neckline to bounce back higher — and invalidate the entire trend reversal theory altogether.

Bitcoin upside setup by Vince Prince. Source: BTCUSD on TradingView.com

“As Bitcoin has still solid supports [near] the 65-EMA and the blue horizontal support, the bullish breakout has a greater possibility of 65%,” Mr. Vince added.

His upside outlook envisioned Bitcoin above $19,000.

Ethereum 2.0 seems to be confirmed to happen soon as deposits in the contract spike.

Ethereum 2.0 Nears as Deposits Spike

There is now 80% of the ETH needed to launch the upgrade by December 1st, as Etherscan shows. For some more context, there needs to be 524,000 ETH in the contract for the upgrade to take place on the planned launch date.

Large whales and a number of smaller investors have deposited a large amount of funds into the contract as they look to support the upgrade and to make ETH by locking their funds in the contract.

But what happens if the threshold is not reached by the deadline. According to developers, the threshold can be adjusted in the future to ensure that there is not ETH locked in the contract forever. One developer recently said on the matter:

“I personally think that for initial launch, the 100k+ ETH in the contract is sufficient, and that adjusting the threshold down to not leave that ETH in limbo for too long makes sense.”

What is ETH2?

For some more context, here’s some more context about ETH2.

Danny Ryan, a researcher at the Ethereum Foundation, recently said to Paradigm on the update:

“If you haven’t had a chance to read my recent blog post, The State of Eth2, I highly recommend it. I try to give context on the project, discuss the trade-offs, the timelines, and the benefits over time. Specifically, check out the “Benefits of eth2 to the community over time” section. In short, Phase 0 bootstraps the system, Phase 1 provides a highly scalable data-layer that, through the use of eth2 light clients in Ethereum, can be leveraged by layer 2 constructions for scalability, Phase 1.5 is the unification of the Ethereum chain that we know and love as a shard under the upgraded eth2 consensus, and Phase 2+ is expanding the functionality of shards over time.”

Ethereum 2.0 will integrate a technology called sharding, which will split up the processing of transactions amongst different groups of nodes to increase transaction throughput:

“Both of these mechanisms are designed to enhance the system while retaining strong properties of decentralization. You can easily scale up a block chain through simpler mechanisms than sharding, but these mechanisms tend to reduce the ability for users to follow and participate in consensus with consumer hardware. Proof of Stake and Sharding, though, allow for a wide set of participants to contribute to the construction of a highly scalable protocol even with standard consumer hardware.”

Analysts expect the integration of Ethereum 2.0 to result in a rally in the price of ETH over time.

Featured Image from Shutterstock
Price tags: ethusd, ethbtc
Charts from TradingView.com
Ethereum 2.0 Likely to Happen as Tens of Millions Sent to Deposit Contract

• Bitcoin has been stable below $19,000 for the past few days, with each visit to this level sparking relatively strong pullbacks
• Where the crypto trends in the near-term will depend largely on whether or not bulls can take control of its price action and push it past $19,000
• The selling pressure here is significant and may continue hampering its growth over the coming few hours and even days
• Meanwhile, Ethereum and other altcoins have been leading the chart higher, with many posting parabolic gains over the past few days and weeks
• The selling pressure seen at $19,000 may continue hampering its growth in the mid-term, but one analyst is expecting it to be tested in the near-term

Bitcoin has been in a clear bull market, with each and every dip being aggressively bought by bulls as traders widely flip long.

Funding rates have been incredibly high over the past couple of days but are often reset by sharp and fleeting downside movements that liquidate long positions.

It is important to note that the cryptocurrency market now appears to be well-positioned to see further upside in the near-term. Ethereum is leading altcoins higher while BTC consolidates below its key resistance.

One trader believes BTC will sweep its range highs at $19,000 once again before facing any plunge.

Bitcoin Stable in Mid-$18,000 Region as Buyers Rotate into Altcoins 

At the time of writing, Bitcoin is stable within the mid-$18,000 region. The selling pressure at $19,000 has proven to be significant but has yet to spark any sustained move lower.

Each dip has been aggressively bought, and this bullish trend shows no signs of ending anytime soon.

Where BTC trends in the mid-term will depend entirely on its reaction to this level. A break above it could help catapult it up to fresh all-time highs.

Analyst Claims BTC Likely to “Sweep Its Highs” Before Plunging 

One trader believes that downside could be imminent in the near-term, noting that he expects Bitcoin to test its highs before reeling lower.

“BTC: Unlikely shorts opened in the red box get a free ride down. At least a sweep of the highs coming first imo.”

Image Courtesy of George. Source: BTCUSD on TradingView.

The coming few days should provide some insight into where the entire market will trend in the mid-term, as Bitcoin’s continued reaction to $19,000 will be key to determining its mid-term outlook.

Featured image from Unsplash.
Charts from TradingView.

• Ethereum has been caught in the throes of an intense bull trend throughout the past few days and weeks, which has helped erase its trend of underperformance
• Where the cryptocurrency trends in the days and weeks ahead will depend largely on Bitcoin and whether or not it can remain stable in the mid-$18,000 region
• Each selloff faced by the benchmark crypto has been fleeting and followed by upside, which is a bullish trend
• One trader is now pointing to an Ethereum fractal that suggests the crypto could be in the early stages of its next parabolic advance
• This comes as it breaks above its last key resistance level before $800

Bitcoin’s stability has given altcoins free-range to rally, with Ethereum leading the charge as it pushes past its last key resistance level before $800.

The crypto is currently in the process of trying to break above $600. The selling pressure here is quite intense and has catalyzed a few pullbacks. If firmly surmounted, its next key resistance sits at $800, which could mean that parabolic gains are imminent.

This theory is confirmed by a fractal recently put forth by one popular analyst, which suggests that parabolic upside is imminent in the near-term.

Ethereum Shows Signs of Strength as Bulls Try to Break $600

At the time of writing, Ethereum is attempting to break above $600. The selling pressure here has been quite intense and may continue holding strong in the near-term.

However, a firm break above this level would be significant and open the gates for significantly further upside.

It is important to note that the resistance here is the last key resistance faced until $800, making a break above this level technically significant.

This Fractal Suggests Parabolic Upside is Imminent

The current market trend is unfolding much like investors had anticipated it to, with Bitcoin leading the charge, slowing once it neared its all-time highs, and allowing altcoins to see explosive momentum.

Ethereum is leading the charge higher amongst altcoins, and one analyst’s fractal suggests that its uptrend is just getting started.

“ETH: Everything lines up,” he said while pointing to the below chart.

Image Courtesy of il Capo of Crypto. Chart from TradingView.

Whether or not Ethereum can break and hold above this level for an extended period of time will provide some serious insights into its mid-term outlook.

Featured image from Unsplash.
Charts from TradingView.

• Bitcoin has been on a tear throughout the past few weeks, with its price posting 2017-style gains as buyers take charge
• After reaching highs of $19,000, the cryptocurrency’s momentum began stalling and it entered yet another consolidation phase
• These bouts of sideways trading have been seen on multiple occasions throughout the recent uptrend. They are nearly always followed by upside
• One trader is noting that investors unrealized profitability has now passed that seen during the 2019 peak
• This points towards a wave of “FOMO” driving the crypto higher, which could be dangerous

Bitcoin and the rest of the cryptocurrency market are in a firm and clear bull market. While BTC consolidates, altcoins are all ripping higher, with Ethereum in the process of rallying up to highs of $600.

This is the highest price level seen by the crypto since its 2017 explosion past $1,000, and it has allowed altcoins – and DeFi altcoins in particular – to all rally in tandem.

One trend that could suggest Bitcoin is overdue for a slight correction is its investors’ unrealized profitability.

An indicator that tracks this metric has now passed its 2019 highs, which means that BTC may start facing some resistance that slows its ascent.

Bitcoin Consolidates as Crypto Market Sees Explosive Move Higher

At the time of writing, Bitcoin is trading up just over 1% at its current price of $18,630. This is around where it has been trading throughout the past few days.

The selling pressure at $19,000 has been holding strong and stopping the cryptocurrency from seeing any massive upside.

Once broken, however, the crypto will likely ascend to its all-time highs and potentially break above the long looked upon $20,000 resistance level.

BTC Investor Profitability Flashing a Potential Warning Sign to Investors

Bitcoin’s intense uptrend has naturally led to a spike in investor profitability, with only a handful of buyers in existence currently being underwater on their spot positions.

One trader is noting that a metric that tracks investor profitability is now higher than it was during the 2019 peak. If history repeats, this could mean that it is entering a parabolic growth phase followed by a strong correction.

“Net Unrealized Profits at higher rates than 2019 peak. Aversion to TP is typical to new traders that have just joined, bought BTC very high and now are subconsciously back-rationalizing their emotional decisions (FOMO). Also, hodlers are aware that unrealized profit is no profit.”

Image Courtesy of CryptoBirb. Source: Glassnode.

Because this ongoing rise has all the signs of a full-fledged bull run, there’s a strong possibility that a fresh parabolic “bubble” cycle is imminent for Bitcoin and the rest of the crypto market.

Featured image from Unsplash.
Pricing data from TradingView.

The Bitcoin as digital gold narrative is suddenly taking on such significance, hedge funds, corporations, and institutional investors have begun reallocating a portion of their gold holdings into the cryptocurrency, according to Bloomberg Intelligence.

A top senior commodities analyst for the financial forecasting giant believes that trend along with climbing Futures interest while gold declines, means that the cryptocurrency is beginning to gain the edge, price appreciation wise. Here’s why this trend will only continue well into the future.

Bitcoin Becomes Digital Gold In 2020 As Safe Haven Needs Change

Bitcoin price is trading at over $18,000 and a stone’s throw from its former peak and is up over 150% in 2020. Gold, which set a new all-time high earlier this year, has only 20% returns to show for it.

The widening gap between the performance of Bitcoin, and that of the precious metal historically used as a hedge against economic uncertainty, has begun to entice high wealth individuals and entities that seek to protect that wealth.

RELATED READING | BLOOMBERG ANALYST: BITCOIN IS “TINY” NOW, BUT “PRICE DISCOVERY STAGE” IS HERE

The dollar is in decline, and even stock market returns when adjusted for inflation aren’t compelling. Bitcoin, however, has the greatest ROI out of any asset since its inception, and it shows no signs of stopping.

Bloomberg analyst Mike McGlone and his team agree. He claims that rising Futures “open interest and investor inflows” in Bitcoin versus gold declining during the same time highlights this trend unfolding.

This could give Bitcoin an added edge in price appreciation during the current cycle that wasn’t around during the last, and be the catalyst that takes the cryptocurrency if prices closer to $500,000 per coin.

Is #Bitcoin Replacing #Gold? #Futures and Fund Flows Are Saying Yes --
Rising futures open interest and investor inflows in Bitcoin vs. the same declining for gold indicate the #cryptocurrency gaining an edge for price appreciation, in our view. pic.twitter.com/Y0wJ6nzxPc

— Mike McGlone (@mikemcglone11) November 23, 2020

Why The Cryptocurrency Will Outperform The Precious Metal Forever More

Performance aside, Bitcoin is better than gold in every way. 2020 cleared the path for an all-digital world and proved that decentralization and scarcity are extremely powerful in this day and age.

In addition to the completely capped supply versus a finite, yet always flowing supply of precious metals the cryptocurrency is uniquely coded for price expansion. The ideal example itself played out earlier this year when gold reached its all-time high. Demand was high, so mining kicked into high gear to compensate for the needed supply.

RELATED READING | FIVE REASONS WHY GOVERNMENTS WON’T BAN BITCOIN AND CAN’T STOP CRYPTO

Bringing supply to meet demand, caused the pullback. With Bitcoin, mining can never hasten and more coins can’t be extracted at a faster pace, and the built-in code even slashes the supply in half when demand started to pick up.

Price appreciation follows, and Bitcoin goes parabolic. Capital pouring out of gold and into BTC could do the trick. Gold’s market cap is roughly $10 trillion, and if Bitcoin can absorb that much money from the world, prices of $500,000 per BTC are just around the corner.

Gold is about to break down against Bitcoin | Source: XAUBTC on TradingView.com

Featured image from Deposit Photos, Chart from TradingView.com

A surprise sell-off in the Bitcoin market on Sunday that crashed the price to $17,610 met with an equally strong buying wall. The cryptocurrency recover later, jumping above $18,500, a level it held as support before the weekend plunge.

But to Marc Principato, Bitcoin really has not brushed aside its bearish risks. The Green Bridge Investing’s Executive Director contemplated the possibilities of more downside correction attempts as short term participants continue to watch $18,500 as a point of infection in the running uptrend.

“Today’s move from the 18,770 high to the 17,600 low demonstrates how FAST selling activity can assert itself,” Mr. Principato wrote in a late-night Sunday note. “Even if today’s candle establishes a bullish pin bar, the risk at these levels for a SWING TRADE is still unreasonably high.”

Bitcoin to $14K

The “bullish pin bar” pointed to a long downside wick that Bitcoin formed amid its sell-off on Sunday. It represented bulls’ rejection to volatile downside attempts — a validation that buyers are guarding the $17,500-area against aggressive bearish assaults.

Bitcoin bulls reject two sell-off attempts to assert an overall upside bias. Source: BTCUSD on TradingView.com

But Mr. Principato refrained from suggesting accumulation in the range between $17,000-$18,500. The analyst said he is waiting for Bitcoin to undergo another bearish correction, but to below the $17,000-support. A “proportional support,” he added, is at either $16,000 or in the upper range of $14,000.

Nevertheless, traders should wait for a bullish confirmation even if Bitcoin hits the $14,000-16,000 range, Mr. Principato warned, adding that the area only allows analysts to measure risks for their future trading strategies.

Fundamentally Strong

Bitcoin rallied relentlessly for six weeks in a row, rising by almost 78 percent as traders assessed the growing institutional investments into the cryptocurrency space.

Pantera Capital, an asset management firm in California, claimed that payment service giants PayPal and CashApp bought more than 100 percent of the current Bitcoin mining supply, leading to a supply deficit in both retail and institutional markets.

On the other hand, top strategists from ARK Invests, JPMorgan, and Blackrock made a bullish case for the cryptocurrency, citing its anti-inflation features against the oversupplied US dollar, as well as its ability to beat gold in the long-term to become the go-to hedging asset in times of crisis.

“[Bitcoin] is so much for functional than passing a bar of gold around,” BlackRock’s chief investment officer of fixed income Rick Rieder told CNBC on Friday last week.

The strong institutional backing for Bitcoin somewhat offset its technical risks. It enabled more traders/investors to hold the cryptocurrency than to sell it at its local highs, according to numerous sources that showed an increase in the so-called HODLING sentiment and a jump in the Bitcoin withdrawals from top exchanges.

Bitcoin’s bullish fundamentals continue to overshadow its bearish technicals.

The last week saw the cryptocurrency on a tear even as it traded way above its actual current rates. It established another year-to-date high — and retested a three-year peak — at $18,980. Meanwhile, its momentum oscillator, the Relative Strength Indicator, continued to alert about its “overbought” signals.

Bitcoin RSI remains overbought for weeks, anticipating massive downside corrections. Source: BTCUSD on TradingView.com

The incredible uptrend took place without concrete hype. A mere check on the keyword ‘bitcoin’ on Google Trends shows no booming number of searches. In comparison, Bitcoin’s previous bubbles towards its all-time high levels in 2013 and 2017 had the Google searchers on a tear.

That somewhat explains the current price rally is institutional, i.e., fewer investors with big bags of capital to buy Bitcoin. A California-based investment firm provides evidence about how the world’s biggest payment firm is driving the upside moves.

PayPal is the New Whale

In a report published this weekend, Pantera Capital claimed that PayPal is buying most newly-mined Bitcoin units — roughly 70 percent of all. Last month, the fintech giant launched a crypto store on its existing US platform, thereby enabling its 300 million users to store, sell, purchase, and spend Bitcoin and other cryptocurrencies.

“PayPal’s crypto infrastructure provider is Paxos,” explained Pantera. “Before PayPal integrated crypto, itBit, the Paxos-run exchange, was doing a fairly constant amount of trading volume. When PayPal went live, volume started exploding. The increase in itBit volume implies that within four weeks of going live, PayPal is already buying almost 70% of the new supply of bitcoins.”

Implied PayPal Bitcoin Purchases (via itBit Volume). Source: Pantera Capital

Together, PayPal and its rival Square’s CashApp are now buying more than 100 percent of the newly-mined Bitcoin. That leaves the cryptocurrency in a supply deficit — against its booming retail and institutional demand.

So it appears, the PayPal narrative alone is enough to push the Bitcoin price upward by $2,000 this week.

Bitcoin At $20K

This weekend’s small downside correction has shown Bitcoin’s ability to hold itself against two extremely assertive sell-off attempts. For instance, on Sunday, the BTC/USD exchange rate fell to as low as $17,610, only to get overturned by a solid buying sentiment later.

The pair recovered back to close the session at $18,437. It was trading near the same level on Monday while targeting $18,500 as its flippable support/resistance.

Bitcoin risks correction after posting seven weekly gains in a row. Source: BTCUSD on TradingView.com

The PayPal FOMO could allow Bitcoin to hold $18,500 as support for its next upward leg towards $20,000, its record high with a huge sentimental value among traders. The sooner the cryptocurrency hits the level, the early it would correct lower thanks to its overheated RSI.

• Bitcoin has undergone some shaky price action after a push to $19,000 this past week.
• Ki Young Ju, CEO of Crypto Quant, recently said that the coin could face a correction in the days and weeks ahead.
• The percentage of whale deposits relative to retail deposits into Coinbase addresses has increased, he noted.

Bitcoin Could See Price Drop As Whale Deposit Ratio Spikes

Bitcoin has undergone some shaky price action after a push to $19,000 this past week. The coin currently trades for $18,200, $800 below the local highs (and year-to-date highs) and around $700 above the local lows near $17,500.

Analysts are fearful the cryptocurrency could retrace as on-chain trends suggest that there is some selling taking place.

Ki Young Ju, the CEO of crypto data platform Crypto Quant, recently noted that the cryptocurrency could face a correction amid an increase in whale deposits to exchanges. He noted that per his data, the percentage of whale deposits into Coinbase addresses has increased, suggesting there are big holders looking to sell:

“Too many $BTC whales on #Coinbase. I’m still long-term bullish, but we might face some corrections or sideways until whales become inactive on spot exchanges. *Exchange Whale Ratio is the relative size of the top 10 inflows to total inflows. Historical data for #Coinbase Whale Ratio. When whales are active(over 90%) on Coinbase, the $BTC price will likely be going sideways or bearish.”

Too many $BTC whales on #Coinbase.

I'm still long-term bullish, but we might face some corrections or sideways until whales become inactive on spot exchanges.

*Exchange Whale Ratio is the relative size of the top 10 inflows to total inflows.

Chart https://t.co/5X4qPIV4HV pic.twitter.com/qDMqRk3RyH

— Ki Young Ju 주기영 (@ki_young_ju) November 22, 2020

According to Willy Woo, another on-chain analyst who picked up on this trend, this selling may not be a big concern. Commenting on how sales by old/large Bitcoin holders might not be bearish per se, he recently wrote:

Not the Only Cause for Concern

This isn’t the only cause for concern for Bitcoin bulls.

The funding rates of top Bitcoin futures markets are currently in the midst of spiking higher despite Bitcoin actually falling. This suggests that there are many derivatives traders that are looking to long the dip.

Analysts are fearful that this could result in a correction for this market. The issue is that overleveraged longs can easily sell their positions in tandems, leading to rapid corrections lower often when the funding rate is high.

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Bitcoin May Face Some Short-Term Selling Pressure as Coinbase Whales Deposit

• Bitcoin has exploded higher over the past few weeks amid mass institutional and retail buying pressure.
• There are some that are calling for a correction, though.
• A historically accurate analyst recently said that Bitcoin may soon be sent to “$15,500-16,000.”
• Another analyst agreed with this sentiment, noting that BTC is breaking below a parabolic uptrend.

Bitcoin Could Be Preparing For a Correction, Analysts Say

Bitcoin has exploded higher over the past few weeks amid mass institutional and retail buying pressure. There have been countless billionaires and big firms announcing their support for the cryptocurrency, forcing retail investors to look more closely at the coin.

While many doubt that these investors are selling their coins, some fear Bitcoin will face some selling pressure in the days and weeks ahead. After all, Bitcoin has gained approximately 70% in the span of six weeks, outperforming basically all other assets over that time frame.

One historically accurate trader is calling for Bitcoin to correct much lower in the weeks ahead.

The pseudonymous trader recently said that Bitcoin may soon be sent to “$15,500-16,000.” This is where Bitcoin consolidated prior to the latest leg higher, making it a logical place where the coin could consolidate on a downtrend.

The trader who made this prediction is the same one that late 2020 predicted that Bitcoin would hit the $3,000s and XRP would hit the $0.11 range. Both cryptocurrencies reached his price targets in March despite many first laughing at his predictions, calling them too bearish.

Another historically accurate trader agrees with his call.

This other trader recently shared the chart seen below, which suggests that BTC is in the midst of breaking down from the parabolic uptrend it began many weeks ago.

When an asset falls below a parabolic uptrend, it often corrects by 60-80% of the uptrend’s value. This is much steeper than Bitcoin analysts think that the cryptocurrency will fall now, though most agree that a move to $15,000-16,000 is entirely logical.

Chart of BTC's price action over the past few months with analysis by crypto trader Bitcoin Jack (@BTC_JackSparrow on Twitter).
Source: BTCUSD from TradingView.com

Selling Pressure Hitting the Market

Of note, there purportedly is selling pressure hitting the market. As reported by Bitcoinist previously, analyst Willy Woo noted that there has recently been a spike in Bitcoin Days Destroyed, suggesting increased selling pressure:

Still, it has been widely reported that there is a lot of Bitcoin being bought by institutional players, as evidenced by a consistent time-weighted average price buy on top exchanges, suggesting an OTC desk accumulating coins.

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Macro Analysis Predicts Bitcoin Has Begun Rally Toward $100k

• Ethereum has flashed signs of immense strength despite a fleeting overnight selloff
• This recent decline came about in tandem with that seen by the rest of the crypto market
• Bitcoin plunged below $18,000 before posting a “V-shaped” recovery and rallying significantly higher
• This recovery also helped lead ETH higher, with the cryptocurrency rapidly navigating back up to where it has been trading throughout the past couple of days
• Its recent strength and unwavering uptrend indicate that further upside is imminent
• One trader is watching for a move higher in the near-term, noting that it could rally towards $850 before its momentum slows down

Bitcoin and the entire cryptocurrency market have been caught in the throes of an intense bull run throughout the past few days and weeks, with Ethereum being particularly exposed to the recent market-wide strength.

The cryptocurrency has posted massive gains over the past few days, with its recent break above $500 creating momentum that has accelerated ever since.

Where it trends next will likely depend on its continued reaction to a key resistance level that sits just above where it is currently trading.

If it breaks this level, he believes that a move up towards $850 could be imminent.

Ethereum Shows Signs of Strength as Bulls Absorb Selling Pressure 

At the time of writing, Ethereum is trading up just over 3% at its current price of $564, which marks a massive rise from overnight lows of $510.

The intense momentum seen over the past few days indicates that it may soon erase its trend of underperforming Bitcoin, with the cryptocurrency targeting $600.

Where it trends next will likely depend largely on its continued reaction to the resistance that sits just above where it is currently trading.

Analyst: ETH Could Target $850 Once This Key Level is Broken

One trader explained that Ethereum could soon rocket as high as $850 once it can move past one crucial level.

He points to roughly $600 as the resistance to watch, with a break above here allowing for a parabolic rally to new post-2017 highs.

“ETH: Buying here makes little sense to me. I’d wait for reaccumulation around former resistance or for a break above range mean / weekly supply to target $850 next.”

Image Courtesy of George. Source: ETHUSD on TradingView.

The coming few days should provide investors with serious insight into where the entire market will trend in the near-term, as Ethereum’s price action should largely guide altcoins.

Featured image from Unsplash.
Charts from TradingView.

• Bitcoin saw a sharp overnight decline that came about following a period of immense strength
• This sent the token reeling down to the $18,000 level, which has long been strong support for the cryptocurrency
• Where it trends next will depend largely on whether or not it can continue holding above the support it has found at this key price level
• One trader is pointing to just how aggressively this dip was bought, which indicates that it may be positioned to see significantly further near-term upside
• Where it trends in the days and weeks ahead will depend largely on its upcoming weekly candle close

Bitcoin has been flashing some signs of immense strength throughout the past few days and weeks, with buyers trying to take control of its price action as bears show their first signs of vitality seen in weeks.

The coming few days should provide some serious insights into where the entire market will trend next.

One trader is now noting that the cryptocurrency’s reaction to this selloff indicates that a long-term price floor is being created.

He believes that this will allow it to rebound and continue its ascent, with the first wave of overzealous buyers getting “wrecked.”

Bitcoin Sees First Major Selloff Since Reaching $19,000

Throughout the course of Bitcoin’s multi-month uptrend, the cryptocurrency has been showing some immense signs of strength, only witnessing a few fleeting selloffs that were followed by upside.

This latest dip doesn’t appear to be an exception to this trend, as BTC’s price reeled as low as $17,650 before facing a “V-shaped” recovery that led to it seeing significantly further upside.

It is now in the process of clawing back the gains that were lost due to this dip, and it may be positioned to see further upside in the near-term.

Analyst Claims BTC has Made a New Price Floor

One trader explained in a recent tweet that the cryptocurrency’s reaction to this recent selloff indicates that a new price floor has been established, which may allow it to climb significantly higher.

He is now watching for a move higher, noting that the aggressive buying pressure throughout this latest upswing was promising.

“What you want to pay attention to now is how aggressively this dip is bought. I think the floor gets established passively. First overzealous buyers get wrecked. Here is a sign of that.”

How Bitcoin trends tonight should provide insight into where Bitcoin will move throughout the week ahead, as its weekly candle close is just a handful of hours away.

Featured image from Unsplash.
Price action from TradingView.

There are many different platforms in the cryptocurrency space that seem to go by unnoticed. Whether it is for trading or finding job opportunities, all options need to be kept open. Today, we highlight TimeX and LaborX, two projects that have significant potential. 

Finding Your Next Crypto Job

The blockchain and cryptocurrency industry has undergone tremendous growth over the past decade. As a result, there are now more companies, projects, and teams than ever before. Most of these ventures aim to grow across the board, allowing them to hire more employees. Finding a job – or new workers – can pose a lot of challenges. 

With the help of dedicated job boards, this becomes a lot easier. LaborX is one such platform where anyone can land a crypto freelance or blockchain job in any part of the world. This freelance jobs platform also offers cryptocurrency payments, which is a key selling point. Connecting clients and freelancers allows for a much better working relationship. 

As of right now, there are quite a few freelance jobs to be found on the LaborX platform. These can be sorted by category, to make things a bit easier. Users can also filter the rates of the projects being listed, depending on one’s preferences for compensation. 

As far as the different gigs go, companies looking to hire employees can find their next employee here as well. There are different categories to choose from, each of which has its own set of freelancers offering their services at specific rates. All in all, the platform has a lot to offer, both for teams and individuals looking to carve out their legacy in the blockchain and cryptocurrency world. 

Convenient Crypto Trading in Australia

Another platform that has recently caught our attention comes in the form of TimeX. It is a hybrid cryptocurrency exchange based on Plasma technology. This allows for a much higher speed of execution, as well as maintaining a degree of privacy. At the same time, TimeX has the transparency and security of a decentralized exchange. Offering the best of both worlds makes for a more competitive trading experience. 

On TimeX, users will be able to trade many different currencies. This includes trading against the Australian Dollar, Bitcoin, Ethereum, Noteworthy supported currencies include Litecoin, EOS, the native TIME token, XRP, and so forth. A very competitive trading platform, with plenty of different markets to explore.

Whereas TimeX may appear like just an exchange, there are other features to explore as well. One option is to buy Bitcoin from the exchange directly. This can be done through market orders for instant trading, or limit orders if one targets a specific price. Obtaining Bitcoin can be done through AUDT, TIME, and USDT. It is equally possible to sell Bitcoin in exchange for these same currencies. 

Last but not least, there is the OTC Market. Trading Bitcoin and other currencies over-the-counter has always proven to be popular. It is an accessible way of trading digital currencies, TimeX’s OTC mart is accessible to anyone who wants to explore this option, either through their own counterparties or by sourcing liquidity through the company’s trading desk. 

Image(s): Shutterstock.com

The post Crypto Freelance Jobs and Trading: Exploring LaborX and TimeX appeared first on NullTX.

Bitcoin has undergone a strong rally over the past month as buyers rush in after the early 2020 crash. The price of the leading cryptocurrency currently trades for $18,600, which is almost the highest the cryptocurrency has traded since the 2017 bull market peak.

While there appear to be many that believe the coin will move higher, data shows the coin is being sold to some extent.

Bitcoin Is Being Sold Into This Rally, On-Chain Data Shows

Willy Woo, a prominent Bitcoin on-chain analyst, there are old holders of BTC that are selling their coins into this rally:

“Old hands have been selling into this rally since the start of Nov (BTC @$13k)…’

While this represents increased selling pressure in this nascent market, Woo isn’t all too worried. He went on to explain that while previous tops were marked by spikes in the destruction of Bitcoin Days, there is likely still smart money that are buying any dips:

Chart of BTC's price action over the past year and a half with Bitcoin Days Destroyed analysis by crypto trader Willy Woo (@Woonomic on Twitter)

Retail Money Entering En-Masse

Underscoring this, retail money is entering the crypto space en-masse.

Pantera Capital co-CIO Dan Morehead recently wrote on the matter of PayPal’s users accumulating a large percentage of the Bitcoin being mined:

“When PayPal went live, volume started exploding. The increase in itBit volume implies that within four weeks of going live, PayPal is already buying almost 70% of the new supply of bitcoins. PayPal and Cash App are already buying more than 100% of all newly-issued bitcoins.”

Analysts think that this retail activity will be critical in driving the price of the leading cryptocurrency to new all-time highs.

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Macro Analysis Predicts Bitcoin Has Begun Rally Toward $100k

• Ethereum has been flashing some immense signs of strength throughout the past few days, with it starting to gain ground against Bitcoin
• Much of this strength came about following the cryptocurrency’s push past $500 earlier this week
• In the time since, it has been growing strong and is now positioned to make a move higher
• One analyst is noting that it is currently nearing the last key resistance level before it reaches significantly higher price levels
• In particular, he is watching for a move to $700. A move to this level would allow it to see significantly further gains

Ethereum and the entire crypto market have been caught within the throes of an intense uptrend throughout the past few days and weeks, with buyers fully controlling its price action as they target higher highs.

ETH is now trading at the highest price levels since it first crashed in 2017, with bulls sending it flying up to highs of $550 overnight.

There was some intense resistance at this price level that slowed its ascent and caused it to see a short-lived selloff.

One trader is now noting that breaking above this resistance could open the gates for a move to $710 in the near-term.

Ethereum Flashes Immense Signs of Strength as Analyst Eye Higher Prices

At the time of writing, Ethereum is trading up just under 6% at its current price of $540.

This is the highest price that the cryptocurrency has seen since it first crashed from its $1,000+ highs set in late-2017.

It is facing some intense resistance around $550, and whether or not it can break above this level should shine a light on its mid-term outlook.

Analyst: ETH Set to Reach $710 if It Can Break One Key Level

A popular cryptocurrency analyst explained in a recent tweet that a combination of it pushing against a key support level and having neutral funding indicates that serious upside could be imminent in the near-term.

“These are your resistant levels for ETH. Funding is back to neutral… What does this tell you?”

Image Courtesy of NekoZ. Source: ETHUSD on TradingView.

The coming few days should provide serious insights into where Ethereum and the rest of the crypto market will trend in the near-term.

If Bitcoin remains stable below $19,000, or breaks above this level, it could allow Ethereum to move higher with it in tandem.

Featured image from Unsplash.
Charts from TradingView.

• It has been a wild past few weeks for Bitcoin and the crypto market, with the benchmark cryptocurrency posting massive gains while the rest of the market also shows continuous signs of strength
• Altcoins are beginning to take the spotlight as BTC’s rally begins stalling, with the selling pressure at $19,000 slowing its ascent while Ethereum and smaller altcoins all rocket higher
• Where BTC trends in the near-term will depend entirely on its continued reaction to $19,000
• One trader is noting that Bitcoin is now at a junction, with its near-term trend potentially being a pivoting point for its mid-term outlook

Bitcoin has been flashing some signs of immense strength throughout the past few days and weeks, with the selling pressure seen at around $19,000 being quite intense.

Where the market trends in the mid-term will depend entirely on this level, as a rejection here could be incredibly dire.

That being said, a break above this level could be all that it needs to catch some immense momentum that sends it rocketing higher in the days and weeks ahead.

The coming few days should provide some insight into the crypto’s trend, as one analyst is noting that it is now trading at a junction point.

Bitcoin Pushes Towards $19,000 as Buyers Take the Wheel

At the time of writing, Bitcoin is trading up just under 1% at its current price of $18,725. This is around the price at which it has been throughout the past few days.

The selling pressure just above where it is currently trading has proven to be quite intense, but it has yet to catalyze any intense rejection.

This has led analysts to widely flip bullish on Bitcoin, anticipating an imminent break above this crucial resistance level.

Analyst: BTC Reaches a Crucial Junction

One analyst explained that Bitcoin is now reaching a critical junction, and how it trends in the near-term could set the tone for where it trends in the days and weeks ahead.

He is specifically looking for its reaction to both $19,000 and its $18,500 support.

“IMO we’re at that BTC junction where… -Buyers show up aggressively from 18.5k support zone, like they did after early Asia dip past week, and we take a shot at 19k again. OR -18.5k buyer get [destroyed], we break down and break down again, buy the dip market is no more.”

This means that the coming few days will be crucial for understanding where the entire market trends in the days and weeks ahead.

Featured image from Unsplash.
Pricing data from TradingView.

• According to Pantera Capital, one of the biggest funds in the crypto fund, the recent rally has been driven by the influx of retail investors buying Bitcoin.
• Per their projections, PayPal users alone may soon acquire more Bitcoin than there are being mined.
• Not only is retail interest in Bitcoin increasing, so is billionaire and celebrity interest in the cryptocurrency.

Bitcoin Rally Predicated on Increase in Retail Volume: Pantera Capital

Bitcoin has seen a strong rally over the past few weeks that has brought it as high as $19,000. The coin currently trades for $18,800 as bulls attempt to determine which direction this market will move next.

According to Pantera Capital, one of the biggest funds in the crypto fund, the recent rally has been driven by the influx of retail investors buying Bitcoin. The firm’s co-CIO Dan Morehead wrote on the matter:

“The bitcoin community is proud to have grown to 100 million users over twelve years. PayPal has 300 million active users. As we’ve argued — and will argue more fully in our December investor letter — this rally is much more sustainable than 2017. One of the main differences is the ease of investing in bitcoin now — via PayPal, Cash App, Robinhood, etc.”

As he mentions in the comment, the increase in Bitcoin buying activity by users of PayPal, Cash App, Robinhood, and other venues is likely driving buying pressure:

“When PayPal went live, volume started exploding. The increase in itBit volume implies that within four weeks of going live, PayPal is already buying almost 70% of the new supply of bitcoins. PayPal and Cash App are already buying more than 100% of all newly-issued bitcoins.”

Morehead went on to note how a simple projection of the volume on itBit, the exchange through which PayPal purchases BTC, suggests PayPal will soon represent more buying pressure than the number of coins minted each day.

Billionaires Are Buying Too

Not only is retail interest in Bitcoin increasing, so is billionaire and celebrity interest in the cryptocurrency.

Mexican billionaire ($13 billion net worth) Ricardo Salinas Pliego was recently revealed to have put 10% of his liquid investments in Bitcoin:

“Dan, I love your newsletter (to which I subscribe) Here some clarifications on my post: 10 % of “liquid portfolio” in BTC…not of my net worth! The other 90% is in precious metals miners. For me it’s no “stampede”, started with Grayscale at 800 dlls BTC in 2016. Ricardo S.”

This comes a few months after Paul Tudor Jones, a billionaire Wall Street money manager, also announced his investment in BTC:

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
PayPal, Square, Others Crucial In Driving Bitcoin 70% Higher in a Month

• Bitcoin has been caught within the throes of an intense upswing, with buyers maintaining full control of its price action as they move to push it up towards $19,000
• The strength of this latest push higher has come about as the entire market rallies in tandem, which is a tell-tale sign that the crypto market is caught in the throes of a full-fledged bull trend
• Where BTC trends next will likely set the tone for the entire market. Bulls must close its daily candle above $18,600 for it to extend this momentum in the near-term
• This comes as the Bitcoin network grows fundamentally healthy, with its utilization reaching all-time highs

Bitcoin and the aggregated crypto market have been caught in the throes of one of the most intense bull markets seen since 2017.

Not only is BTC just a hair away from setting fresh all-time highs, but the rest of the crypto market is also pushing higher in tandem.

Ethereum’s recent break above $500 has allowed the DeFi sector to race higher as well, with all the blue chip DeFi assets outperforming the aggregated market.

This isn’t an unjustified upswing either, as BTC’s network health is arguably the strongest it has ever been.

Bitcoin Pushes Towards $19,000 as Parabolic Uptrend Kicks Off

At the time of writing, Bitcoin is trading up over 4% at its current price of $18,700. This marks a massive upswing from recent lows of $17,400 set just a few days ago.

The intensity of the recent market-wide upswing is only growing stronger, with prominent voices within the traditional financial markets now shilling Bitcoin – including the Blackrock CIO.

BTC is trying to flip its previous $18,600 resistance into support. An ability to do so could allow it to see some massive momentum in the days and weeks ahead.

BTC’s Network Health Surges as Activity Flourishes

One data aggregator explained in a recent tweet that Bitcoin’s network health reaches the highest levels seen in ages.

This comes as the on-chain activity reaches all-time highs, with active Bitcoin addresses reaching levels not seen since January of 2018.

“Bitcoin on-chain activity is closing in on new all-time highs. There were 1.19 million $BTC active addresses, the highest value since Jan 2018.”

Image Courtesy of Unfolded.

Where the entire market trends in the near-term will depend largely on Bitcoin’s upcoming daily close, but the immense macro momentum indicates that this uptrend is here to stay.

Featured image from Unsplash.
BTCUSD pricing data from TradingView.