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    [Daily Discussion] Monday, October 26, 2020 Bitcoin Markets

    October 26, 2020

    [Daily Discussion] Monday, October 26, 2020 Bitcoin Markets

    [Daily Discussion] Monday, October 26, 2020

    Posted: 25 Oct 2020 09:05 PM PDT

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

    Thread guidelines:

    • Be excellent to each other.
    • Do not make posts outside of the daily thread for the topics mentioned above.

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    [Altcoin Discussion] Monday, October 26, 2020

    Posted: 25 Oct 2020 09:05 PM PDT

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

    Thread guidelines:

    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
    • No discussion about specific ICOs. Established coins only.

    If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

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    Bloomberg strategist explains key macro drivers for price growth of gold and bitcoin

    Posted: 26 Oct 2020 03:47 AM PDT

    Senior Bloomberg strategist Mike McGlone has predicted that the BTC price will reach $100K by 2025 in an interview with Kitco News. McGlone pointed out that Bitcoin still has more than enough space for price growth, citing that the cryptocurrency had previously jumped from $1000 to $10000/bitcoin over the last 3 years. As for gold, even gold's uptrend has been somewhat slow compared to Bitcoin, but will not stop appreciating vs. the US dollar – and it may spike again. McGlone argued that if bitcoin can repeat its past bullish momentum, it could return to its 2019 high of $14,000 by the end of 2020.

    Why it matters: There are a number of factors supporting the Bitcoin price, and mainstream investors are beginning to enter the space. With so much buying interest in Bitcoin, as well as some of the major altcoins, we are likely to see higher prices over both the medium and long term. Despite its technical limitations, Bitcoin has become the go-to alternative digital asset, and these seem to be few reasons to doubt its ability to continue to attract capital. As an alternative to central bank issues fiat currency, Bitcoin can be used anywhere these is an internet connection, and has been an excellent store of value since its inception.

    Source https://btcpeers.com/bloomberg-strategist-explains-key-macro-drivers-for-price-growth-of-gold-and-bitcoin/

    submitted by /u/Usefulaluable
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    BTC futures market

    Posted: 25 Oct 2020 08:17 PM PDT

    For several months, BTC prices have ranged from $11,500 to $12,000.

    It rose to $13,000 in three days

    The recent depreciation of the DOLLAR has led to a rise in the price of BTC.

    In the future, payments using BTC may replace the DOLLAR, and its price will rise indefinitely.

    I think now is the best time to invest in the BTC market.

    submitted by /u/JaniceCj
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    Bitcoin completely dismisses its broad relevance to the US stock market.

    Posted: 25 Oct 2020 08:33 PM PDT

    Benchmark cryptocurrency prices continued to rise on Thursday, rising more than 1 percent, keeping up their weekly gains.

    That briefly pushed the price above $13,000 before falling back a bit and pushing it back below that level.

    ​

    But overall, the bias seems to be extremely positive for Bitcoin, and attempts to sell the currency near $12,550 have proved remarkably resilient, confirming the bulls' desire to keep the price floor under the medium term upside.

    submitted by /u/JaniceCj
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