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On November 8, Bitcoin trading ended in growth

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cryptonotes
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On Monday, November 8, Bitcoin trading ended in growth. The price increased by 6.71% to $ 67,789. On Tuesday, at auction in Asia, buyers overwrote a maximum of $ 68,524. Cryptocurrency market capitalization exceeded $ 3 trillion. Ether also moved its all-time high by $ 4838.

The main reasons for the rise in prices for cryptocurrencies.

  • In August there was a hard fork of the London airwaves. Now the ether is getting more expensive against the background of the Ethereum 2.0 update.
  • In October, the head of the US Federal Reserve J. Powell said that they would not ban cryptocurrency.
  • Bitcoin is launched on CME - ETF (ProShares Bitcoin Strategy ETF)
  • The stimulus programs of the central banks have caused a sharp rise in inflation. At the beginning of the year, bitcoin rose in price by 134%, ether - by 549%. With such returns, cryptocurrencies have become a defensive asset against inflation, not gold.
  • Increased demand for cryptocurrency from large companies and retail investors. Companies are increasingly starting to offer cryptocurrency trading and storage services.

The outlook for cryptocurrencies remains strong. Considering that the stock market began to give low returns, investors turned their attention to the crypto market. Bitcoin and Ether have renewed all-time highs. The nearest targets for bitcoin are 71750 and 80 thousand, for ether - 5000 and 5400.

Bitcoin buyers need to hold the 66526 level. The higher the price climbs up without pulling back, the higher the likelihood of a sharp spill. For any one, someone wants to take profit on long positions. Bitcoin is predicted to be 75 thousand in November and 100 thousand by the end of the year. The level of 80 thousand is visible, no higher.

Posted Using LeoFinance Beta