Bitcoin ‘price will follow,’ says analyst after historically accurate metric hits new high

Bitcoin (BTC) has already hit an all-time high this week, according to one price measurement from popular statistician Willy Woo. In a series of tweets on Oct. 27, Woo added to his recent bullish prognoses on Bitcoin, noting that one valuation of BTC/USD was now higher than ever before. Woo: “Price will follow” NVT valuation Woo was referring to Bitcoin’s network value to transactions (NVT) ratio, which aims to suggest when the Bitcoin network is overvalued compared to the actual value of transactions passing through it. As of Tuesday, Bitcoin’s…

High DeFi yields could threaten ETH 2.0 staking participation: ConsenSys

The rise of DeFi and high yielding liquidity provision opportunities could act as a barrier to participation in staking when ETH 2.0 Phase 0 finally launches according to a new report. The ConsenSys Q3 DeFi Report has taken a deep dive into emerging trends and warns that staking on Ethereum’s forthcoming Beacon Chain may be limited by better earning opportunities on decentralized finance protocols. ConsenSys believes it’s likely that Phase 0 of the ETH 2.0 upgrade will launch before the end of the year. ConsenSys developer Ben Edgington said last…

Strong Fundamentals Push Bitcoin to New Yearly High

Bitcoin’s weekly chart posted a clean breakout above resistance with a 13.1% rise in prices the week ending Oct. 25. Since then, BTC has continued to rise to a new yearly high above $13,500. BTC/USD weekly chart on Coinbase. Source: Trading View Retail Bitcoin Buyers Still Silent in Current Move With the increase in cryptocurrency prices, over 20,000 Bitcoin addresses are now worth over a million dollars. At $13,500 apiece, this equates to an address holding about 74 BTC. The number of Bitcoin addresses with more than 1,000 BTC made…

The number of Bitcoin whales hit an all-time high during the latest bull run

The number of Bitcoin (BTC) whales reached a new all-time high amid last week’s price ascension. On October 20, there were 2,178 Bitcoin addresses that held at least 1,000 BTC. By October 25, this number increased to 2,231. At current prices, 1,000 BTC translates to approximately $13 million. Source: Glassnode. Based on this data, we can surmise that the whales control at least 2.23 million Bitcoin — a significant figure equivalent to 12% of the current supply. Source: BitcoinCharts. According to data from BitcoinCharts, these whale addresses actually control a much…

Bitcoin Shoots Up to New Year-to-Date High After $13k Daily Close

Bitcoin has once again rallied over the past day, bringing it to new year-to-date highs at $13,350 as of this article’s writing. The latest move higher just took place, bringing the leading cryptocurrency from $13,150 to the aforementioned highs. Chart of BTC’s price action over the past two days. Source: BTCUSD from TradingView.com This comes after Bitcoin saw a notable daily candle close of $13,000. This daily candle close was the highest of its kind since January 2018. Many see this as notable as $13,000 has long been an important…

Bitcoin Technicals Suggest Bulls Likely To Target Fresh High above $13.5K

Bitcoin price is trading nicely above the $13,000 resistance zone against the US Dollar. BTC is showing positive signs and likely gearing for more upsides above $13,200 and $13,500. Bitcoin successfully cleared the $12,800 and $13,000 resistance levels. The price is now trading nicely above the $13,000 handle and the 100 simple moving average (4-hours). There is a major bullish trend line forming with support near $13,000 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise above the $13,200 and $13,250…

DeFi Total Value Locked Reaches $12.5B All-Time High Despite Cooling Hype

Key Takeaways The total value locked in DeFi reached a new high of $12.5 billion on Oct. 24. While lending platforms like Compound, Aave, and Maker still occupy the top five positions, other smaller protocols are gaining ground. DeFi token prices are consolidating after a drastic fall since September, but this could be bullish as Bitcoin prices heat up. Share this article Despite cooling DeFi hype, the total value locked in these financial protocols continues to make new all-time highs. State of Top DeFi Projects The dominant DeFi projects in…

Bitcoin Could Be Just One Week Away From A New Monthly All-Time High Close

Bitcoin is just over one week away from the October monthly close, taking place on Halloween night. Although the night is known for candy, scarces, and tricks, if the leading cryptocurrency by market cap can close above $14,000, investors will be in for one heck of a treat. Bitcoin October Monthly Candle Close Could Result In New All-Time High Bitcoin price is trading well above $12,000 after a $1,000 intraday candle earlier this week that sent the cryptocurrency to a new 2020 high. The top-ranked crypto asset, however, failed to…

Ethereum Gains 6% Intraday, Sets Sights For 2020 Higher High

Bitcoin shocked the finance world yesterday rocketing more than $1,000 to over $13,000 per BTC at the high. Today, Ethereum is following suit, with 6% already on the books and a chance to soar much higher is here. Here’s what to watch for in ETH and the signs to watch for if the altcoin will catch up to Bitcoin’s massive rally. Ethereum Blasts $25 Intraday For More Than 5% Pump The second-ranked cryptocurrency isn’t letting Bitcoin soak up all the limelight, and has followed the top cryptocurrency’s showstopping pump yesterday…

Bitcoin price hits new record high in these 7 countries

Compiled by entrepreneur and market commentator Alistair Milne, exchange rate figures show that at this week’s highs, Bitcoin was worth more in seven currencies than ever before. Countries where #Bitcoin has hit a new ATH in their local currency: Brazil – pop. 209millionTurkey – pop. 82mArgentina – pop. 44.5mSudan – pop. 41mAngola – pop. 30mVenezuala – pop. 29mZambia – pop. 17m Soon: RussiaColombia … then all other fiat currencies — Alistair Milne (@alistairmilne) October 22, 2020 Milne: other currencies will follow Bitcoin’s weekly gains stood at over 15% overnight on…