The Bitcoin price rose in the last 24 hours to nearly 30 percent. Currently, he is moving tight to the $ 10,000 mark. The largest Cryptocurrency according to market capitalization drags Altcoins like Ethereum, Ripple, and IOTA, with.
By Phillip Horch
26. October 2019BTC$9.344,23 0.27%part Facebook Twitter LinkedIn xing mail
The Bitcoin price on March 25. October, the scene surprised belonging. Within a short period of time BTC, the largest crypto currency by market capitalization of just under 10 percent. In the meantime, the price rose to about US $ 2,000 and a price increase of almost 30 percent reported currently.
Bitcoin price explodes – the reasons
As we already reported yesterday, to find possible reasons for the current bull rally in China. The head of state Xi Jingping had at 25. October very sympathetic to the Blockchain technology expressed. Of crypto-currencies, the speech was not directly. Nevertheless, the CEO of the largest crypto stock exchange Binance Changpeng Zhao prompted to share the news on Twitter.
In Jan 2016, Chairman of the Central Bank of China says the Blockchain is important. Bitcoin companies in China suddenly all became blockchain companies. And thankfully (for me), price started to recover, and lead into the #altszn in 2017, as well as $BTC ATH again at $20,000 in Dec.
— CZ Binance (@cz_binance) October 25, 2019
Changpeng Zhao draws in his Tweet is a direct correlation between the Bitcoin price and news out of China:
In January 2016, the Chairman of the Chinese has told the Central Bank that the Blockchain is important. Chinese Bitcoin companies Blockchain at once, all to-company. And luckily (for me), began to rise the rates, which led to the Altcoin-season in the year 2017, as well as the BTC all-time high of US $ 20,000 in December.
About the same time as the rise in the Bitcoin price also BTC listed-Futures-provider Bakkt new climbs. If you can see due to the low trading volume of the controversial forward contracts here is a direct influence, is not to say with certainty. Also, the ongoing disputes about the Brexit are sometimes interpreted as the price driver for crypto-currencies.
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As almost always, if the Bitcoin price rises, also the Altcoins strong.
the Ethereum and Ether Token rose in the last 24 hours by 15 percent. Currently the second largest cryptocurrency is trading at 186 US dollars.
the Ripple rate or XRP tokens increased within a day to 8 percent. Thus, Ripple is 0,298 US Dollar.
Fans of the Cryptocurrency IOTA will be happy also. Because of the IOTA exchange rate climbed yesterday to 8.5 percent. To ensure that the assessment is for the Coin for the Internet of things 0,276 US Dollar.
Bitcoin-price rises – the mood of investors
According to the Crypto Fear & Greed Index is the mood on the crypto-market, similar to the Bitcoin price increase. You moved in the last few days, especially in the “anxiety”area to vary it up-to-date greed.
The Crypto Fear & Greed Index is made up of several factors, and analyzes the basic investor sentiment or the situation on the crypto-market. Details can be found here.
Bitcoin price: The technical analysis of
And here, as always, our technical price analysis by Dr. Philipp Giese.
Even now, the contemplation of using Fibonacci Retracement Levels, we also chose a few days ago helps still. At the 50-percent Fibonacci Retracement Level, the price could bounce off and over the 38.2-Fibonacci-Retracement-Level rise. Tonight it even came to the Test of the Resistance loading to 23.6 percent, and a tentative view of the sliding average of the last 20 weeks.
daily chart on the Basis of the value pair is BTC/USD on the stock exchange Bitstamp
According to the indicators shown, the position is regarded mostly bullish, a Long Position, investors should keep the feet still, and a renewed increase over the 23.6-Fibonacci-Retracement-Level 10.238,004 dollars to wait. There is a Long Position with a Target at about 12,000 US dollars. As a Stop Loss the 9.557,18 of the U.S. Dollar would be appropriate. Only in case of a fall below the 38.2-percent Fibonacci Retracement Level at 8.481,02 US-dollars, you could think about a Short Position with a Target at 7.283,07 US dollars and by the moving average of the last 200 days defined Stop Loss at 8.885,38 US dollars.
tips for investors
if you are considering now, nor in the crypto market, you can get around here is about Blockchain Banking smart. Other ways to buy Bitcoin, Ethereum, IOTA and co., we list at this point.
For beginners, it is recommended to familiarize yourself first with the intricacies of crypto-trade familiar with. First of all, it applies here to decide on a strategy: I Want to go Long or Short? I put on a long-term Investment or I want to ride only in the short term on the crypto wave? What does it mean to “hodln”? Will keep the price of Bitcoin stable over the long term or he will crash soon back down? What is the meaning of “volatility”? And: the crypto-market in a bubble? All this you can learn on BTC-ECHO. If you have questions, you can contact us in our Community Chat in the Discord.
Disclaimer: The information on this page is the illustrated rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.
The chart images have been using trading view created.
USD/EUR exchange rate on the cut-off of 0.90 Euro.
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