BTC trend US dollar
The impact of the okex incident on the currency market is fading; With the US election becoming increasingly white hot, the difficulty and hash rate of bitcoin are higher than before
in terms of price, so far, BTC has rushed to around us $11720, with a 24-hour increase of more than 2%
so the question is: where will bitcoin go in the next week
here are five factors that may affect the BTC price trend in the coming week
No.1 US macro level: election and stimulus plan this week, the US is the absolute focus of the macro market. The US presidential election will soon usher in a decisive moment (November 3)
analysts warn that if the Democratic Party (Biden) wins, the dollar will depreciate - and the long-term outlook for the dollar is already precarious. Goldman Sachs said last week that Trump's re-election was not enough to get the dollar out of danger
however, no matter what the election result is, professionals recommend buying gold as a hedge. However, in the view of others, bitcoin may bring more profits
However, e to the inverse correlation between BTC / USD and the dollar currency index (DXY), the strength of the US dollar, in the view of some bitcoin traders, will still affect the price trend of bitcoin. Although this correlation has become less and less obvious in recent weeks, the sudden weakness of the US dollar is still likely to be a boon for bitcoin
six month chart of US dollar currency index. Source: tradingview
at the same time, not only the election, but also what happened before is also a topic of interest. Specifically, a coronavirus stimulus plan was in place before polling day
If this happens, trillions of dollars of liquidity will increase the growing debt pile of the United States, and Americans will see additional benefits, such as an additional $1200 economic stimulus planNo.2 Europe suggests more intervention
with the outbreak again, the European Central Bank (ECB) is considering further measures
European Central Bank President Christina; In an interview with Le Monde on Monday, Lagarde said the European Central Bank would use more financial instruments if necessary
the European Central Bank's coronavirus stimulus program has purchased a total of 1.5 trillion euros of assets
"We haven't run out of options in our toolbox yet," says Lagardebrexit is increasingly moving towards "no agreement" brexit, which makes the possibility of instability worse
No.3 the fundamentals of bitcoin have reached a new high
recently, bitcoin has maintained a strong resilience in the face of various black swan events. Influenced by okex, BTC recently dropped below $11200, but recovered steadily soon. So far, it has exceeded $11600
and on the technical level, the fundamentals of bitcoin also maintained a record strength this month
two days ago, the difficulty of the latest adjustment increased by 3.5% than expected
at the same time, the hash rate also climbed to a record high on Monday. At the time of publication, the estimated computing power for mining is 146 exahashs (EH / s) per second
as often reported in the media, the popular theory is that the price follows the hash rate, because the long-term investment prospect of bitcoin is better than ever before
bitcoin 7-day average hash rate 1-month chart
No.4 analysts focus on $12000 BTC price breakthrough
for famous analyst Micha & # 235; For Lvan de Poppe, the key price conversion of bitcoin is becoming more and more reasonable
in his latest video update on Sunday, he stressed that the significant resistance level of weekly closing price below US $12000 for several consecutive years will soon end
Van de Popper believes that since the beginning of the bear market in early 2018, US $12000 has become the rejection point of the weekly chart, but the consolidation below cannot last forever
he concluded: "we are likely to rebound to the range of US $16000 to US $17000, because this is the obvious level and the last obstacle for bitcoin to begin to break through the all-time high."
after this move, there will be another consolidation period, which may last longer than the current period
van der BOPP added that he advised viewers to work hard to accumulate bitcoin, even in the $16000 range
BTC / USD 7-day price trend chart. Data source: coin360
No.5 market sentiment: greed is back
with the graal strengthening of prices, investor sentiment is also changing: data shows that investor sentiment is becoming more and more greedy. In the latest market data, the fear and greed index has returned to the "greedy" area, rising slightly from "neutral" in the past week
this indicates that bitcoin investors' emotional expectations will be bullish, but it should be noted that if the price rises too fast, "greed" will become "extreme greed", in which case the index is more likely to callback
Since the second half of 2020, the price of bitcoin has been going up all the way. Up to now, bitcoin has broken through the $50000 mark, which can be said to be a straight-line surge. Why are many short sellers not optimistic about their prospects before, but their prices are running all the way to the top? Is it that they say no, but in fact they are very honest< in fact, the price surge of bitcoin is e to the fact that musk, the founder of Tesla, the new world's richest man, has publicly expressed his support for bitcoin, and that multinational financial consortia such as JPMorgan Chase and MasterCard have also provided bitcoin platforms, which has led to a sharp rise in the price today, Xiaobian will give you some ideas about bitcoin
First, the past and present of bitcoin< p> Bitcoin is a kind of virtual P2P currency proposed by Nakamoto Cong on November 1, 2008. Its biggest feature is decentralized, peer-to-peer transmission service, which does not need to be issued by the National Central Bank and other currency issuing institutions. Moreover, it is obtained by cracking the encryption algorithm, so its security is very high, and the total number is limited. Now, it is more and more difficult to obtain bitcoin, which also gives rise to & lt; Mining machinery& ldquo; Mining & quot; And other instries. Due to its limited total quantity, this virtual currency is very scarce and can be used as an investment proct
the price of bitcoin has been at the highest level in history after a period of rapid rise. It is not known whether it will continue to rise or let it go all the way. For us ordinary people, this price is already sky high. We'd better wait for the fight of major capitals. Netizens, what's your opinion? Welcome to comment area message exchange
if the US dollar is strong, bitcoin will be relatively weak and its price will fall
the above is the usual situation. The US dollar may be stronger, but other currencies may be stronger. Even if they are denominated in US dollars, they may not fall or even rise
this is just an unusual situation. For bitcoin, it is almost impossible. What factors will make bitcoin stronger than the US dollar when the US dollar is strong?
About $240, the following is the market chart, for reference only:
because before the first mock exam, it said: should take the block chain as a very important breakthrough in our core technology independent innovation, so as to promote the core technology independent innovation more rapidly, because of this policy. As a result, bitcoin rose by nearly US $1000 within six hours. It is also because of the leadership of bitcoin that the prices of other mainstream currencies rose to varying degrees
But for investment, we should consider carefully, not only the surface, but also all things. When we really plan to invest here, we must think about how to face the loss, how to control the loss and how to stop the loss, Investing in bitcoin is really a good choiceBitcoin broke through US $52000 for the first time, has been showing a soaring trend. I think it's more about people's pursuit of bitcoin . In fact, about such virtual currency, I think it's more about everyone's own pursuit. If we don't have any pursuit of bitcoin, then bitcoin will certainly have a high value and won't enter the museum, Every one of us really wants to make money, but we should be cautious about investing in things like bitcoin. If we do it well, we may make a lot of money. However, if we do it badly and fall apart one by one, we are not sure how sad it will be, So for us, we must be more cautious about such things. For a state of investment, we should have money to invest, but if we don't have money, we should never invest, because our own money is hard won to invest, which means that there will be ups and downs
Of course, this is not what we want in the end. In fact, what most investors want most is what they invest in, which keeps rising and they can make a lot of money. However, in the face of such things, everyone of us is not very clear and does not know whether we can make money, so it depends on each of us, This kind of thought in my heart and this kind of feeling in my heart. For bitcoin, which broke through $52000 for the first time, has been showing a soaring trend. I think it is more about people's pursuit of bitcoin