Cryptocurrency
Most profitable asset in a decade, Bitcoin up over 26,600,000%
Bitcoin, from $0.06 in September 2010 exploded to its current price of around $13,000, representing a surge of over 26,600,000%.
The odds are now playing strongly in favor of the world’s most popular crypto – Bitcoin.
Data retrieved from a well-known crypto custodian firm Blockchain showed how Bitcoin from $0.06 in September 2010 exploded to its current price of around $13,000 – representing a surge of over 26,600,000% in a span of 10 years.
READ: Pigs on a rampage as Bitcoin prices drop over 10%
READ: Bulls on rampage, Ethereum wallets now record high
Meanwhile, the same couldn’t be said about its closest performing rivals, which included the Yellow metal and the S&P 500, which climbed 103% and 233% respectively over the same stretch.
Why this matters
The flagship crypto seems to run hot on many prevailing macros, not forgetting that the general economic law states that when demand is high and supply is limited, prices of such products will usually go up.
READ: Chainlink breaks into top 10 most valuable cryptocurrency in the world
- Bitcoin has established a robust support level at $13,000,
- It should also be noted in the past few years, that Bitcoin holders are refusing to sell and instead use it for wealth preservation.
- Also, another strong sign giving crypto traders bullish bias include Bitcoin’s Active Supply 3y-5y (1d MA) just reaching a 23-month high of 1,840,755.050 BTC, as seen from Glassnode – a popular analytic firm
A previous 23-month high of 1,840,745.362 BTC was observed earlier today.
READ: Apple claims GEEP Canada stole over 100,000 of its devices
READ: Fate of $2.3 billion worth of Bitcoins in Limbo
What this means
Nairametrics earlier broke the news on how the world’s flagship crypto continues to gain traction at the speed of light. The renowned financial data media company, Bloomberg Intelligence, gave critical insights on why bitcoin, in just about five years’ time, could hit a valuation of $100,000.
READ: There are now 13,173 BTC millionaires around the world
READ: China’s economy bounces back from COVID-19 slump, with a growth of 4.9% in Q3 2020
“Bitcoin’s foundation is firming for further price advances if its history is a guide. Since initially reaching $10,000 in 2017, the benchmark crypto corrected about 70% and remains in an extended period of consolidation around that level,” the report said.
Cryptocurrency
2,257 investors globally own at least 1,000 Bitcoins
The number of addresses holding 1k+ coins just reached an ATH of 2,257.
It’s no longer news that most Bitcoin wallets are now in profit. What seems to be trending now, is the number of investors owning at least 1,000 BTC – hitting a record high, as data retrieved from Glassnode, a crypto analytic firm, revealed Bitcoin Number of Addresses Holding 1k+ coins just reached an ATH of 2,257.
READ: $66.5 billion worth of Bitcoin lost forever
- Previous ATH of 2,256 was observed earlier today.
- Metric Description: The number of unique addresses holding at least 1k coins.
- At the time of drafting this report, Bitcoin traded at $18,456.68 with a daily trading volume of $32,979,859,228.
- BTC price is up 0.0% in the last 24 hours.
- It has a circulating supply of 19 Million coins and a max supply of 21 Million coins.
READ: Why Warren Buffett is making less money now
Whales could be anticipating a strong medium to long-term Bitcoin price trend, and are choosing to hold on to BTC in expectation of a bull market.
Much of the recent increase can be attributed to wealthy entities withdrawing their BTC from the exchange. Apparently, this is not new wealth – rather, it represents a change in the way Bitcoin whales are choosing to hold their coins.
From a macro level, this increase in the number of BTC whales can be considered bullish.
READ: Bitcoin whale transfers $105 million worth of crypto, BTC trading at $15,800
Bottom Line
Nairametrics believes the increased buying pressures by such investors are partly responsible for the non-dilutable crypto recent highs.
Billionaire Watch
Billionaires that can triple the value of Bitcoin
Michael Saylor has disclosed billionaires who could turn the price of Bitcoin up, at least three folds.
The Founder and Chief Executive officer of the popularly traded business intelligence firm, Michael Saylor, recently disclosed billionaires, who could turn the price of Bitcoin up at least three folds. His bias was based on the aurora these billionaires bring notably in the global financial world.
In his most recent Youtube interview, he started his narrative by explaining deeply the effect such billionaires would have on the flagship crypto market,
READ: Germany’s biggest bank says more people now prefer Bitcoin over gold
“It’s important that 100 million people embrace Bitcoin but there are 10 people that can triple the price of Bitcoin. This is not like Facebook, nobody ever brought a billion friends to Facebook. This is like when a person with $10 billion decides that they want to adopt this network and they put $2 or $3 billion on the network, that’s going to be more monetary energy that flowed into the network than the first 10 million people put into the network. It’s ten million to one gain.”
He went on by revealing the names of such billionaires, amid their stronghold seen on global finance.
READ: Most profitable asset in a decade, Bitcoin up over 26,600,000%
“Here’s the other thing. When a person with $10 billion puts $10 billion on the network, they’ve got a friend with $10 billion. Warren Buffett (Berkshire Hathaway CEO) plays bridge with Bill Gates (Microsoft founder) and then they talk with Mark Zuckerberg (Facebook CEO and founder).
“So when this hits that social network, it’s like a billion to two billion to four billion to eight billion and those four decisions, those four blocks have more impact on the network than the first 10 million blocks.”
READ: Crypto; Tron’s founder offers $1 million bounty in finding BTC Twitter hackers
What you should know
Sequel to these macro, Nairametrics some days ago revealed key insights coming from DeVere Group discovering that 73% of poll participants (millionaires) are now already invested or are preparing to invest in digital assets, such as Ethereum, Bitcoin, and XRP, before the end of 2022, showing a significant amount of interest by the world’s top earners.
READ: Apple market capitalization nears $2 trillion, as Apple’s CEO becomes a billionaire
- The findings come as the price of Bitcoin rallied close to $18,000, almost close to the $19,763 all-time record reached in December 2017.
- Most of the high net worth individuals polled by the financial firm got triggered into planning to buy cryptos by the latest institutional buying.
- Those classified as millionaires in the study include ‘High Net Worth’ having more than £1m (or equivalent) in investable assets.
Cryptocurrency
Two cryptos you should consider investing in
Two cryptos are presently catching the eyes of top experts as seen by Van de Poppe who is advising his 85,000 followers on Twitter.
In the era where the buying pressure seen lately has grown at an alarming rate in the crypto-verse, some unknown cryptos are presently showing good potentials.
Two cryptos are presently catching the eyes of top experts as seen by Van de Poppe who has advised his 85,000 followers on Twitter to consider Ocean Protocol (OCEAN), which is designed to allow businesses to sell their data and buy data in a secure and safe marketplace.
READ: How Crypto can curb Nigeria’s high unemployment rate
What you should know: According to the crypto expert, traders can wait for OCEAN to decline over 37% against Bitcoin (BTC) before making a buy.
“I did discuss that 3,900 (satoshis) level is a very important level to break. Lower highs, lower lows. Looking at support levels at 2,500 and 1,900 (satoshis) for massive entries. Everything retraces fully.”
READ: Top U.S regulator says more crypto banks coming
Blurry chart, but it's from a few weeks back, on the livestream.
Did discuss that 3900 level is a very important level to break. Failed.
Lower highs, lower lows.
Looking at support at 2500 and 1900 for massive entries.
Everything retraces fully. pic.twitter.com/ZTAtNC50Sd
— Michaël van de Poppe (@CryptoMichNL) November 21, 2020
READ: KuCoin recovers 84% of Cryptos stolen by hackers
The highly revered crypto expert also disclosed Tomochain (TOMO), a platform that helps to improve the scalability issues limiting many blockchains. The crypto expert says TOMO is offering a great opportunity against BTC as it trades close to historical support of 0.000034.
“Most likely we’re going to find the resistance around $0.80 so we’re getting close. Most likely, we’re going to get something like this: either we’re going to $0.48 again or $0.59. These two levels I’ll be looking for accumulation for a swing trade…
READ: U.S customers can now buy Cryptos with Paypal
Target zones if we get the new rally up and the new impulse wave, quite clear about a buck ($1.00), about $1.60, and you can use the Fibonacci 1618 extension tool through which you can determine targets at $2.50.”
Ripple, Litecoin, Tomochain, When To Buy Altcoins?
Full analysis on these three and $BTC here:https://t.co/EqCb0NSgvr
Enjoy and subscribe!$TOMO, $LTC, $XRP
— Michaël van de Poppe (@CryptoMichNL) November 20, 2020
Disclaimer: Nairametrics would like to remind you that the data contained in this website is not necessarily real-time.
READ: Over $20 billion pumped into crypto market by big investors
(Crypto, stocks, indexes,) and Forex prices are not provided in real time and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.
Therefore, Nairametrics doesn’t bear any responsibility for any trading loss you might incur as a result of using this data.
Explore Data on the Nairametrics Research Website
ABCON warns: Forex speculators risk losing money as they push for forceful depreciation
N200 billion Unclaimed Dividend: Securities dealers reject FG’s plan to manage fund
Nigeria imported over 55% of cooking gas consumed in October 2020
COVID-19: AstraZeneca vaccine could be 90% effective against the virus
FG says Second Niger Bridge will be completed in 2022, project to cost N414 billion
COVID-19 Update in Nigeria
Daily Parallel Market Exchange Rate – ₦480/$1
Naira crashes to new record low at black market as businesses divert export proceeds
EndSARS protests: British parliament to sanction request against Nigeria on Monday
Buhari to commission phase 1 of brand new refinery this week
Eniola
October 28, 2020 at 10:20 pm
It’s been bearish since noon today.
What do you think will happen in the next 18 hours?