BKCM VD säger att Digital Dollar, Euro eller Yuan kommer att öka Bitcoin

VD och grundare Brian Kelly förutspådde att den digitala dollarn, euron och yuanen kunde öka Bitcoin och den allmänna kryptomarknaden.

Grundaren och VD för investeringsföretaget BKCM LLC för digital valuta, Brian Kelly, sa att den digitala dollarn, euron och yuanen skulle tjäna som ett tryck för Bitcoin Evolution. Vid ett telefonsamtal med CNBC: s Fast Money sa VD:

”När det gäller den digitala euron eller den digitala yuanen eller den digitala dollarn, är det faktiskt inte någon konkurrens för Bitcoin, för Bitcoin-kärnans värdeförslag är att den har ett fast utbud … Jag tror faktiskt att det är mer en risk för fiatvalutainnehavare och det lyfter fram varför Bitcoin är en digital guldliknande produkt. ”

Kelly kommenterade också det pågående Bitcoin-rallyet. Han angav inte ett prismål för BTC men anser att rallyt efter halvering av kungsmyntet inte är över ännu.

Tala vidare, VD noterade att BTC hade ökat över $ 16.000 i 12 dagar. Han sa att han förväntar sig en tillbakadragning och kommer inte bli förvånad när det händer. Bitcoin har ökat betydligt de senaste månaderna, och flera analytiker har förutspått en kontinuerlig ökning.

Dessutom uppgav Kelly skillnaden mellan värdet av Bitcoin och guld. Med nästan 309 miljarder dollar i marknadsvärde sa Kelly att Bitcoins nuvarande börsvärde är ett „fel nummer“ för att störa guld, som har ett totalt värde på 10 biljoner dollar.

BTC har ökat med 4,54% under det senaste dygnet och handlas för närvarande till $ 16,664.66.

Bitcoin rally short-lived? Google search trends show a bearish outlook

For many Bitcoin enthusiasts, the flagship of the cryptocurrency has arrived on Wall Street with sovereignty.

It now costs around $ 14,500 to buy a bitcoin – about twice as much as it did at the beginning of the year. This is also the highest level since January 2018, when the cryptocurrency was revised down from its record high of almost $ 20,000 in the previous month.

Many analysts agree that Bitcoin’s renewed price rally has to do with growing investor demand for safe investments. Some, including Bloomberg, even believe the Crypto Profit will soar back to $ 20,000 by the end of this year – due to skyrocketing federal deficits caused by trillions of dollars in government spending and inflation fears.

The Bitcoin cheerleaders have long projected the coin as the ultimate hedging tool against fiat money, as it has a definite supply cap of 21 million tokens. Since individual mainstream companies have decided to replace part of their cash reserves with Bitcoin, the thesis gained enormous traction through social media.

Unfortunately, the same enthusiasm cannot be felt on Google Trends.

Lack of interest in searches

The latest data from the world’s largest online search engine shows a lack of interest in Bitcoin among everyday internet users. On a scale from zero to 100 over a five-year period, Bitcoin scores 9 points. If the period is changed to 12 months, the value increases to 63.

In contrast, Bitcoin’s trending value was 100 in December 2017, when the cryptocurrency was headed for $ 20,000. Most of the sentiment mentioned had to do with BTC being the first coin to boom.

Startups raised resources in BTC by posing as the next blockchain unicorns and getting ordinary citizens to look for how to buy Bitcoin.

The search for the keyword „Bitcoin“ remains low despite the enormous interest at the macro level. Source: Google Trends

The boom ended in a major collapse as most of these projects failed or turned out to be fraudulent. Bitcoin fell 84 percent from its $ 20,000 high as a result.

The same thing happened with his Google Trend Score, which crashed from “100” in December 2017 to “5” in November 2018.

In contrast, Bitcoin’s main hedging rival, gold, saw a steady trend. Its values ​​fluctuated between „82“ and „51“ – mostly over a period of five years. For the past 12 months they have remained stable above ’71‘.

Interestingly, in the week of May 10-16, 2020, Bitcoin hit a perfect „100“ within a 12 month timeframe. This step coincided with the third “halving” of the cryptocurrency – an event that periodically reduces its daily supply by half, exacerbating its scarcity against fiat currencies.

Good news for Bitcoin, after all

Hans Hauge, head of quantitative strategy at Ikigai Asset Management, thinks the absent “Bitcoin” interest against the rising price is good news. He comments that the lower values ​​for the Bitcoin keyword show that the cryptocurrency has matured.

„This is not the height of a bubble mania, it’s orderly and calm,“ said Hauge, comparing the 2017 trend with the current one. And:

„The next spike in Google Trends will make the last one look like nothing.“

Bitcoin mining selection: The 5 most important news of the week

The pioneering cryptomoney mining, Bitcoin, generated interesting news this week and, in this work, a selection of the five most important ones is presented.

It should be noted that not all the information refers to the extraction of the main cryptomoney, but to others such as ETH.

Among the main protagonists of this news week, the companies dedicated to mining were highlighted. Specifically the North American companies Marathon and Riot Blockchain, which maintain a strong competition for hegemony in this field.

Likewise, other topics highlighted were the end of the rainy season in China. The end of that season caused a significant migration of miners in some provinces of the Asian country, where the highest percentage of Bitcoin Profit total hash power is concentrated.
This is the selection of the 5 Bitcoin mining news of the week

The news about the Bitcoin mining business and other currencies, were varied, in this selection, the 5 most prominent are presented.

Riot Blockchain and Marathon fight for the gold medal in mining in America
Bitcoin hash rate falls after the end of the rainy season in China
Bitcoin’s average commission rate increases 573% in 13 days
Jailed for mining ETH with an airport’s computer systems.
New York regulators ask Bitcoin mining firms to avoid environmental damage.

Fight for first place

At the beginning of the week, it became known that the company dedicated to the mining of Bitcoin, Marathon, had made a new massive purchase. In a statement, the company’s management announced that they had acquired about 10,000 new S-19 pro.

This is a massive purchase equivalent to the one made last August to Bitmain. On that occasion, 10,500 units of the latest generation were purchased, valued at $23 million.

In this way, the competition for supremacy in Bitcoin mining in America, is sharpened between Marathon, Riot Blockchain and Core Scientific. By 2021, all the mining capacity from these purchases will be installed by these American firms.

End of rainy season in China affects Bitcoin hash rate

After the end of the winter season in China, the Sichuan province began to experience an intense migration of miners. This is one of the highlights of this selection of information on Bitcoin mining.

It affected the hash rate of the main cryptomone, this is because, in those times, the electrical costs in Sichuan go down. Attracted by this, miners from many places in China settle in this region to take advantage of the surplus of hydroelectric energy.

However, at the end of the season, prices rise again and the miners return to their places of origin. Disconnections reach significant limits and cause the total computing power of the most important of the cryptom currencies to plummet, as can be seen in the graphs.
The fall of Bitcoin’s hash rate is one of the highlights of this selection of digital mining news. Source: Blockchain.comThe fall of the Bitcoin hash rate is one of the most outstanding information in this selection of news about digital mining. Source: Blockchain.com Blockchain.com

Do whales decide to liquidate their BTC?

Bitcoin Transaction Rates Rising

Although the profits from the rise in the price of the queen crypt coins were outstanding, the increase in rates, came to tarnish everything. Now, Bitcoin’s miners, in the last 13 days, have had to pay 128% more in transaction fees.

This is the highest rate increase since June 2018. According to the analysis portal Glassnode, accounted for in USD, the rates average $11.66. At the moment, Bitcoin’s Blockchain network is in the biggest bottleneck of the last three years.

When there’s a lot of traffic on the Bitcoin Blockchain network, the speed of transactions decreases considerably. In response, the miners increase the payment for transactions in order to have priority, which increases the average amount of transactions.

Bitcoin Mining in Iran Has New Buyer

An Italian goes to jail for mining where he shouldn’t

Another highlight of the week in terms of mining, this time not from Bitcoin but from ETH, was the imprisonment of a miner. The event took place in Italy, where an individual was accused of mining the digital currency of Ethereum, using the computer systems of an airport.

Esta tendencia histórica está lista para repetirse en este ciclo de toro actual: Bitcoin (BTC) vs ETH, XRP, LINK, BNB

En una base de 7 días, Bitcoin ha subido un 6,16%.

Desde la mentira de la tierra, la primera y más grande cripto-moneda, Bitcoin (BTC) la reciente acción de precios ha sido impresionante. Desde unos mínimos de 11.200 dólares, Bitcoin rompió varios niveles de resistencia para alcanzar el tan codiciado nivel de 13.000 dólares. Además, el 31 de octubre, que marcó el 12º aniversario del Libro Blanco del activo, BTC subió más de 14.000 dólares, pero la subida fue sin embargo efímera. En una base de 7 días, Bitcoin subió un 6,16%.

No se puede decir lo mismo de las criptodivisas alternativas, también conocidas como Altcoins, que fueron golpeadas durante la semana. Sobre una base de 7 días, el Ethereum (ETH) ha bajado un 4,34% mientras que el segundo mayor criptograma lucha por reclamar 400 dólares como apoyo. Ripple (XRP), Chainlink (LINK), y Binance Coin (BNB) han bajado un 5,32%, 7,47% y 6,49% respectivamente.

Los analistas y comerciantes que han estado prestando gran atención a este ciclo alcista actual señalaron que se puede establecer una tendencia histórica para repetirse en base a la acción de los precios de Bitcoin y Altcoins.

Gráfico diario de BTC/USD

Bitcoin se cotiza actualmente a 13.828 dólares. Desde el 13 de septiembre, cuando el dominio de BTC marcó mínimos del 56%, el índice no se ha mantenido igual, subiendo casi un 7,4% en los últimos dos meses. El índice de dominio de Bitcoin está actualmente en el 63,6%.
Bitcoin (BTC) vs ETH, XRP, LINK, BNB

El año ha sido bastante notable para la mayoría de los Altcoins, como se ve en sus resultados del año hasta la fecha (YTD), incluso superando el de Bitcoin. Un informe reciente destacó los rendimientos de YTD de Cardano (ADA) como 224%, Ether (ETH) 217%, Monero (XMR) 182%, Binance (BNB) 123% mientras que el YTD de Bitcoin se sitúa en el 83%. Chainlink ha superado todas las demás criptodivisas con rendimientos anuales hasta la fecha de más del 600%.

Comparación de los rendimientos de la mayor criptodivisa en el 2020. Cortesía: El TIE

Sin embargo, en una base de comparación con los máximos de todos los tiempos indican que Bitcoin sigue siendo la cripto-moneda que menos ha bajado en comparación con sus máximos históricos de todos los tiempos, que son alrededor del 36% en comparación con su pico de 20.000 dólares ATH en 2017. Chainlink (LINK) ha bajado un 41%, ETH un 73%, y Cardano (ADA) ha bajado un 92%.

Los peores resultados de las principales criptodivisas, especialmente las diez principales son Ripple (XRP) y Bitcoin Cash (BCH) que han bajado un 94% desde sus máximos históricos. Entre las principales criptodivisas, Binance Coin, Bitcoin y Chainlink son las que más se acercan a sus precios más altos de todos los tiempos.

Esta tendencia histórica está lista para repetirse en el presente ciclo del toro…

Los analistas y los comerciantes han notado una tendencia que normalmente se reproduce en la mayoría de los ciclos alcistas y que también se corrobora históricamente: durante los ciclos alcistas, Bitcoin siempre fue el primero en experimentar una rápida tendencia alcista. Luego, Altcoins siguió el ejemplo principalmente después de que el BTC alcanzara nuevos máximos o el ATH, según el caso.

Los operadores creen que hay posibilidades de que esta tendencia histórica se repita en este ciclo de precios actual, y no esperan una recuperación de Altcoin hasta 2021, cuando BTC puede haberse asentado y redondeado su repunte. En la actualidad, el dominio del mercado de Bitcoin del 63,6% se está tragando el volumen de Altcoins.

Recientemente, los investigadores de la firma de análisis de cadenas Santiment observaron el crecimiento en volumen y dominio de Bitcoin cuando Chainlink (LINK), Ether (ETH) y Binance Coin (BNB) intentaron igualarse. Esto fue declarado:

„El dominio de #Bitcoin continúa mostrándose, particularmente a través del volumen de comercio. Al comparar otras cadenas de bloqueos superiores en el día pasado, note la disminución en el volumen de operaciones de $ETH, $XRP, $LINK y $BNB, mientras que los niveles de BTC se mantuvieron altos“.