Strong moves from Bitcoin this week have rekted altcoins in the process. In the last 24-hours, the leading crypto posted +8% gains to $18.2k.
With its current run of form, many analysts expect Bitcoin to break its previous all-time high soon. Analyst ConnorNix predicts we’ll see a retest of $17.1k, followed by an upswing to $20k by tomorrow.
“With the smell of parabolic-ness in the air, one can’t help but draw bullish charts.
Retest orange line, 17100ish, this was a big resistance on my charts. Tomorrow 8am gmt roughly.
Then up to purple line which is ATH by the same evening then to the moon!
Bitcoin has surprised a lot of people. I’m hoping it’s going to surprise the world 🌎 .”
Source: BTCUSD on TradingView.com
The net result sees only a handful of crypto alt tokens gaining against BTC. Notable examples include Digibyte, up 4.5%, and Yearn Finance, up 3.8%.
The overwhelming majority of alts are down against BTC, many of which are in the double-digit losses.
Source: Top 10 Losers Against BTC on Binance.com
With no sign of let up from Bitcoin, altcoins holders are bracing for more turbulence ahead.
However, all is not lost. Analyst @Stillman__ see similarities, with the previous altseason, in the patterns of major crypto altcoins at present.
He concludes that ALT/BTC pairings have bottomed or are close to bottoming.
“If the alt action were to resemble 2016, – then alt lows on strong ALT-BTC-pairings are likely in or close to in. I am emphasizing the word strong here because our samples from 2016 all ended up being top performers. – USD lows are even more likely already in.”
@CryptoMichNL shares a similar view. Like ConnorNix, @CryptoMichNL believes Bitcoin is due a correction. This, he predicts, will be followed by weeks of ranging price movement for the leading crypto, giving altcoins relief from the onslaught they have suffered to date.
Following this, he predicts a final Bitcoin drop will precede a new altseason in January – March 2021.
Seems a very likely case;
▫️ $BTC correcting 15-20% in a little bit, which puts altcoins down.
▫️ A few weeks of sideways of #Bitcoin, which makes altcoins rally by a significant portion as ‘relief’.
▫️ Another final drop on $BTC.
▫️ Altseason January – March 2021.#CRYPTO
— Crypto Michaël (@CryptoMichNL) November 17, 2020
Predictions of an altseason have come fast and loose during the three years since the last bull run. All of which have turned out wrong.
With Bitcoin inching back up to ATHs, a position that was not the case at any point in the last three years, could this prediction be the one that’s right?
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I have sold my 5 btc at 16500$ and waiting lower prices. What is your next forcate within the next months?x
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I can’t get the alt coins you talk about on Coinbase or NAGA, what would you recommend I’d like to get into ve chain
Hi there, I love your work. Thanks a lot for all your insights. Very clear. Now I’ve got a question regarding gZil. I see I can swap Zil for gZil on zilswap which seems pretty interesting. However I can’t find any resources giving me some kind of price charts of the gZil/Zil for exemple. The only way I can have an outlook of the value of the gzil is by updating the zilswap tool. But it only gives me an instant photo of the value of a gZil. for exemple during the last 12h it ranged from 930 to 1050 Zil for a gZil. Any idea ?
Never think less of M a d r i g a l_k e l v i i n on lπstaqram he’s indeed a professional. I just made withdrawal of a total of $31,060k Investing $2,000k in 7days
Does Coinbase have a daily withdrawal limit for GBP into bank account?
Can you please shorten your videos. I do not have all time in a minute. Lol
Curious if you have a certain percentage gain before you start taking profits? Thanks!
Quick and solid! BEST crypto youtuber!
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Solid tips. However, how do you do valuation? $.05 is appealing but so is $.50 or $5. Is there a crypto version of economic moat? If one isn’t tech-y, how do you know if the companies objectives are feasible and scalable? When figuring out when to sell and when to hold, what technical analysis do you use? Btw, I love this channel because your thoughts are so easy to track. Thanks!
Bitcoin’s price has been held within a strong uptrend throughout the past several weeks as the cryptocurrency consolidated within the higher $16,000 region. I personally think BTC May soon see a stronger uptrend move due to inflows of capital from retail traders who are just entering the market for the first time. This group of investors may provide bitcoin with the strong base to grow upon and by the rate of new investors rushing to get a taste of the good opportunities of this crypto asset, I foresee a breakout soon. One interesting aspect of crypto currencies is their ability to be traded apart from being stored up, I started my trading career with little or no knowledge about trading or how to go about it, but thanks to His signals and willingness to assist with proper professional guidance was a major motivation to my ability to understand more about this crypto asset and what it holds. You can contact him on Gmail ([email protected]) WhatsApp +12602435801 or telegram @carterfx_bbo
I’m happy trading with him, Bitcoin to the moon
YEX (yolex.io) has nearly tripled in price over the last few days. They’ve got a DEX built on Uniswap, it’s a few months old, but they recently added stop-loss and limit orders, planned a BTC/ETH pair with its own liquidity pool, and released a roadmap.
There’s a total supply of 150 YEX, with more being minted for staking and trading rewards. It’s a small community with a MK of $39k, there’s plenty of room to catch the ride up!
You’ll get 30% staking rewards AND you get 2% of every trade you make on the platform back as YEX token. This is a huge $$$ opportunity for traders/stakers.
Find the telegram @yolex_io
Looking at the current btc chart one would never believe this same currency once traded below $6000 just around March this year, it’s amazing how an enlightened part of the world has rip massively from this bullish move, yet analysts continue to predict this as merely the beginning of better things to come, crypto in general offers a host of opportunities, but trading continue to be the most vague and lucrative, with the right trading guide and signals of Isaac Steward, I’ve been able to learn the basics of trading, been earning big over these past month while also learning trading and effectively utility of signals towards trade, the past few months has been revealing,steward is an avenue to channel concerns on crypto and trading.he can be reached for guidance on WhatsAap (+447782829841) and telrgram * (Isaacsteward) .
Hi, enjoying the videos and your presentation. What is a good trading platform ???
great concise info – THANKS CM >> research. buy low. take profit
sums it all up no matter your experience. Respect Ash
Sounds so easy, but you’re absolutely right. It is a mind game…
Dear CM which coin has better potential for higher profit in the next bull cycle, Ada or Dot, thanks in advance
What do you think about Band. Will it bounce back? Thanks in advance on your answer.
Always a good reminder. btw, have you looked at WISE at all. I think its pretty dope.
Can you please do a video on SHARERING (SHR) What do you think about it ? I been hearing about this project for a while now. they just partner with Rakuten a MULTIBILLION-DOLLAR COMPANY
Author: Chuck T
Bitcoin’s market cap surpasses Nvidia at over $336B
Both Bitcoin and Nvidia saw major growth in 2020, but Bitcoin’s market cap wins today.
Published on November 17, 2020
Amid a meteoric bull run in the cryptocurrency market, Bitcoin (BTC) is overtaking another major American company in terms of market capitalization.
As the Bitcoin price briefly crossed the $18,000 threshold on Nov. 18, Bitcoin’s market cap surged above $336 billion, outstripping the market cap of Nvidia — one of the world’s most well-known manufacturers of graphics cards.
On Nov. 17, Nvidia’s shares closed at $330.7 billion, according to data from Macro Trends. The close follows a significant decline from a $358.7 billion threshold recorded on Nov. 2. At publishing time, Bitcoin’s market cap accounts for $336 billion, according to data from CoinMarketCap.
Bitcoin’s new market cap milestone against Nvidia comes amid both Bitcoin and Nvidia seeing major growth in 2020.
As reported by Cointelegraph, Bitcoin has surged by nearly 400% this year, skyrocketing from below $4,000 in January 2020 to over $18,000 in November. Nvidia’s market cap surged more than 100% this year, up from around $150 billion to over $350 billion. According to Nvidia’s financial results released in August 2020, the company saw record revenue of $3.87 billion in the second quarter of 2020, up 50% from 2019.
Bitcoin and Nvidia have some close ties, as the latter is providing one of the world’s best-performing GPU cards for mining cryptocurrencies like Bitcoin. As previously reported, Nvidia might be facing some issues due to its crypto mining-related activity.
In May 2020, a class action accused Nvidia of misrepresenting over $1 billion in sales to downplay the firm’s reliance on sales to crypto miners. In September 2020, Nvidia’s legal representatives argued that its investors are not entitled to access its internal records about the “crypto craze” of 2017 and 2018.