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Ridam

BTC Trading at 17.7k$

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On 11/18/2020 at 7:44 PM, Whited35 said:

@Ridam Guys who have a huge BTC holdings are having "When the Lambo" mood 😂! I am just tracing the market momentum by putting the stop loss at the safest zone. Personally, I am still thinking like BTC will break all the previous records to  reach the highest price range ! 

yea whenever the general mode of holders is "when lambo" its an indicator for me to sell as that euphoria will always be followed by a huge dump and i would rather buy bitcoin when it dips back to 12-13k.

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2 hours ago, duncun007 said:

yea whenever the general mode of holders is "when lambo" its an indicator for me to sell as that euphoria will always be followed by a huge dump and i would rather buy bitcoin when it dips back to 12-13k.

@duncun007 So have you sold your BTC holding yet or are you still waiting to see price to climb the peak ? Instead of making several spike in price, I see a slight possibility for BTC price to go down in the cryptocurrency markets. 

 

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13 minutes ago, Whited35 said:

@duncun007 So have you sold your BTC holding yet or are you still waiting to see price to climb the peak ? Instead of making several spike in price, I see a slight possibility for BTC price to go down in the cryptocurrency markets. 

 

i sold most of my bitcoin holdings above 18800$, and bought again few hours ago below 18000$, but i just bought it because i want to scalp these dips, im waiting for better entries at 14k and 13k, but keep in mind that it might get a final push to 19200-19500 because we need to test that final resistance again.

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Exactly you are right BTC is trading at 17.7k $ or more. 

Rate of BTC is still pumping up because pandemic corona virus great effect the digital currencies and trading market. Some traders got profit due to increase of BTC rate and some got loss.

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10 hours ago, saraanna396 said:

The epidemic has greatly affected the price of Bitcoin and led to its decline, but with the receding of this epidemic and the occurrence of halving, the price of Bitcoin has returned to recovery and rise again, and now this price is reaching record levels.

You meant the pandemic of coronavirus, I do not think it was the one that affected the price of bitcoin at that time, it was all over the crypto news that it was not the one that affected the bitcoin or crypto prices generally. That is why bitcoin still follow its trends and increase to almost all time high. 

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On 11/18/2020 at 10:21 PM, Dorjoy12 said:

 As recently bitcoin did correction with its price and price is around 17k to 18k plus all this moment so i feel like bitcoin will hit 20k soon then there will be a huge dump on btc price as in 20k usd price of btc surely there will have lot of trader and holder to sell bitcoin immediately and convert it to usdt for buy more bitcoin..  But as it crypto market so anything can be happen anytime..               

Bitcoin will soon jump to the price of the $20,000 target as the current price is moving between the $16,000 to $19,500 and the future target is $25,000 but the price is stuck now.

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And with all experts saying the price is going to jump further before the next halving, it is only in the best interest of everybody, that we collect as many satoshi as we can, coz even by the modest estimates, bitcoins will be thousands of dollars. 

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Bitcoin seems to be holding around $17000 after a big drop the day before. It is possible that we were in a temporary top at $19000 but I think we are not done yet and it will not be another many month bearish trend forming but better this time. We don't need to lose hope as the chart is still bullish.

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We reached a tipping point and I hope this wasn't just that. I see buyers at these levels at $17,000 but it can be another push down that will make lower low and we can take a few months to consolidate and create better support levels. Bitcoin is still higher from summer prices and has strong support levels that will be tough to break. 

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Bitcoin corrected and I think it also bounced as price is up $1000 from the recent low of $16300 so something can start the engines again and buyers will appear to help the price reach the desired outcome of a new all time high. The correction was this one and anything else will mean trouble and I don't see any more selling right now.

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Very nice post containing chart and so much good information. I thank you very much for this information. I see Bitcoin as an exit from the troubles we have and as security inside the insecurity of our economies and currencies.  The bullish momentum I saw in Bitcoin when I joined was what helped me decide and a bull run is not stopping because price dropped, as I know this is a technical correction and it is now two days later recovering.

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On 11/22/2020 at 9:54 PM, duncun007 said:

i sold most of my bitcoin holdings above 18800$, and bought again few hours ago below 18000$, but i just bought it because i want to scalp these dips, im waiting for better entries at 14k and 13k, but keep in mind that it might get a final push to 19200-19500 because we need to test that final resistance again.

Well we have tested that final resistance several times and it looks Bitcoin is finding some solid support at that area. I think it's healthy for Bitcoin to consolidate before going parabolic.

If you are scalping, I suggest you to be active. Bitcoin is coming to 17-18k several times and if you able to buy dips profit will be really good.

Talking about 13-14k level it will be available after this bull cycle in my view 😜

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3 minutes ago, norbercripto said:

Bitcoin has the fundamentals and technicals to break through its all-time high of 20,000 (a little less) by 2021. This December I estimate it will take a hiatus for the ALTs to settle down a bit.

 

Beautiful image, at any moment the break will come !!

btc 6-12.PNG

Exactly, hiatus for some time will also be good for starting the massive pump on it's way.

Considering the strong Fundamentals like, PayPal, CashApp buying all new minted Bitcoins and today I read that there is shortage of new Bitcoin. I believe the break will be in upward direction.

This time I'm pretty confused with the alts performance, they aren't behaving like in 2017 or I have missed something, if so please make me aware 😊.

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Thought we are going through to 20k from 17k till bitcoin faces its big resistance again at $19800, repelling it back to 18k and above as I write this. 

It is great how BTC has followed a vertical pattern over the month (November, more specifically). But we are going to have a retest over and over again before breaking above the milestone, $20k.

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16 hours ago, Raqeebzy said:

Thought we are going through to 20k from 17k till bitcoin faces its big resistance again at $19800, repelling it back to 18k and above as I write this. 

It is great how BTC has followed a vertical pattern over the month (November, more specifically). But we are going to have a retest over and over again before breaking above the milestone, $20k.

Exactly brother, I also think these retest are healthy for the upcoming run to the moon. We are testing 18k levels multiple times in the journey and until the price is above 17.2k, I'm Bullish in Bitcoin. As the ATH of 1970-19800 is great resistance and Bitcoin seems preparing for that. I believe there should be the consolidation in coming days and we will be heading towards the ATH this year. Last week of December will be important for Bitcoin price this year.

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On 11/18/2020 at 3:54 AM, Whited35 said:

I am getting busier since the last night bro 😂 ! Again, check the connections between US Stock markets and BTC bullish trend. I think, crypto-community is already started to discuss regarding this matter too. Have a look at the chart, extreme bullish market is looking like to be on the way. 

1787304221_Screenshot-2020-11-18T083020_478.thumb.png.5684c46d182204024d564f65a8cda8db.png

Well I think it's just as expected, after months of resistance and backdrops we are sure to be approaching a bullish market any moment from now. 

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On 12/11/2020 at 9:03 AM, Ridam said:

Exactly brother, I also think these retest are healthy for the upcoming run to the moon. We are testing 18k levels multiple times in the journey and until the price is above 17.2k, I'm Bullish in Bitcoin. As the ATH of 1970-19800 is great resistance and Bitcoin seems preparing for that. I believe there should be the consolidation in coming days and we will be heading towards the ATH this year. Last week of December will be important for Bitcoin price this year.

For me, BTC is proving to be weak these few days, forming some some lower lows and w-pattern. Looking at it this morning, I think it is being supported again by some volume; we need more of that to see some bullish pattern again above $18'700

Let's see what next week brings.

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9 hours ago, Frodler said:

Well I think it's just as expected, after months of resistance and backdrops we are sure to be approaching a bullish market any moment from now. 

Bullish moments were already there but there were massive sell off other factors to give BTC price to follow downtrend. It is still struggling to get recovered and we crypto enthusiasts are still expecting BTC price to touch another ATH. Let's see if the bigger whales do not make moves according to their interests, there is still possibilities to see upsurge in BTC price. 

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On 12/12/2020 at 9:23 PM, Whited35 said:

Bullish moments were already there but there were massive sell off other factors to give BTC price to follow downtrend. It is still struggling to get recovered and we crypto enthusiasts are still expecting BTC price to touch another ATH. Let's see if the bigger whales do not make moves according to their interests, there is still possibilities to see upsurge in BTC price. 

The Bitcoin is manipulating by the Big investors/share holders/whales and they move the market according to their own position and earn more money as the other users loss it.

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1 hour ago, Khan said:

The Bitcoin is manipulating by the Big investors/share holders/whales and they move the market according to their own position and earn more money as the other users loss it.

Whales manipulate the crypto markets according to their profits. Recent ups and downs in BTC price may have been also affected by some whales movements but there are other factors too. Now Bitcoin price is seen around $19K + and I am still expecting the better moves of BTC. 

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2 hours ago, Whited35 said:

Whales manipulate the crypto markets according to their profits. Recent ups and downs in BTC price may have been also affected by some whales movements but there are other factors too. Now Bitcoin price is seen around $19K + and I am still expecting the better moves of BTC. 

I also think that as the liquidity decrease they gives their move to manipulate the Market.

I am also expecting Bitcoin to cross the long held resistance at this time and I think in coming time we will see small consolidation in 19k level which is probably happening, 20k level will be crossed. Let's see does it able to go to moon in this December or we need to wait for 2021.

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I think you already got the answer, Bitcoin has risen to high numbers and touched the top of 2017, where it reached a few days ago the price of 19,800$, but it came back and bounced slightly, now we are waiting for a new bullish movement, although there are some predictions that Bitcoin will decline again in the scenario Similar to what happened in 2018.


 

 

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5 hours ago, Ridam said:

I also think that as the liquidity decrease they gives their move to manipulate the Market.

I am also expecting Bitcoin to cross the long held resistance at this time and I think in coming time we will see small consolidation in 19k level which is probably happening, 20k level will be crossed.

If bigger institutions keep purchasing the large amounts of BTC to keep their properties in the crypto, we might see the skyrocketing price of Bitcoin in the cryptocurrency markets but I am tracking the updates whether there are whales and hacker(who stolen the crypto from different exchange) to dump the prices after creating a massive sell-off like as before. 

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On 12/15/2020 at 8:58 PM, Whited35 said:

If bigger institutions keep purchasing the large amounts of BTC to keep their properties in the crypto, we might see the skyrocketing price of Bitcoin in the cryptocurrency markets 

It seems institution aren't Caring Bitcoin is at 18-20k $ level, they are just willing to hodl btc in their portfolio and be safe from the Inflation.

I read that JP Morgan discusses about the 600B in new demand for Bitcoin. If this discussion is real and such demand came for Bitcoin, I think Bitcoin will goto the moon.

Link to The Discussion

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6 hours ago, Ridam said:

I read that JP Morgan discusses about the 600B in new demand for Bitcoin. If this discussion is real and such demand came for Bitcoin, I think Bitcoin will goto the moon.

Link to The Discussion

Yes it is looking the real and if bigger institutions like MacroStrategy keep buying Bitcoin to convert their properties in the form of Digital gold i.e. Bitcoin, another massive splash is on the way. Additionally, moves from PayPal has also played an important roles to give the boost in the price of Bitcoin that is simply stunning. Anyway, keep tracking the market momentum if you are trading Bitcoin now. 

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According to ING bank strategists, "we still forecast that the Bank of England will start lowering rates in August and will begin to signal this in its speeches as soon as the general elections on 04 July are over". In their opinion, the likelihood of rate cuts by the Bank of England is much higher than those by the Fed, which will put pressure on the pound sterling. TDS company analysts, on the other hand, give the following forecast: "We believe a rate cut of 15 b.p. is expected in August, and about 50 b.p. in total for 2024". In several other market participant forecasts, it is also mentioned that by November, the reduction could be around 30 b.p.   GBP/USD ended the past five-day period exactly where it started – at 1.2644. The analyst forecast ahead of the parliamentary elections is unequivocal – 100% side with the dollar and expect the British currency to weaken. Regarding technical analysis on D1, there is also a clear advantage on the dollar's side. Trend indicators are in favour of the dollar at 65% to 35% red to green. Oscillators are 100% pointing south, with 20% signalling the pair is oversold. In case of further decline, the pair's levels and support zones are 1.2610-1.2620, 1.2540, 1.2445-1.2465, 1.2405, 1.2300-1.2330. In case of the pair's growth, it will meet resistance at levels 1.2675, 1.2700, 1.2740-1.2760, 1.2800-1.2820, 1.2860-1.2895, 1.2965-1.2995, 1.3040, and 1.3130-1.3140.   As for the events of the upcoming week, all investor attention is focused on the elections on 04 July. The next important event, as mentioned, will be the publication of the fresh inflation report in the United Kingdom on 17 July.   USD/JPY: Another Peak Conquered   Last week, 75% of analysts expecting new currency interventions voted for the USD/JPY pair's retreat south, while the remaining 25% pointed north. The minority, as is often the case with the Japanese currency, turned out to be right: no interventions occurred, and the pair reached another peak – 161.28.   Frankly, there's nothing to comment on here – everything has been discussed dozens and hundreds of times. The problem of the yen's weakening lies in the ultra-loose monetary policy of the Bank of Japan (BoJ). And as long as it does not decisively turn towards tightening, the national currency will continue to lose its positions. Of course, for a while, the Ministry of Finance and the Central Bank can support its exchange rate with currency interventions. But spending billions and billions on something that disappears like ripples on water after a few days – is there any point in that? Can this be called monetary policy?   If inflation falls in major competing countries, in Japan, it rises. According to data published on Friday, 28 June, the Consumer Price Index (CPI) in Tokyo for the year ending in June rose to 2.3% compared to 2.2% for the previous period. The core CPI inflation (excluding volatile food prices) also increased to 2.1% year-on-year, which is higher than both the forecast of 2.0% and the previous value of 1.9%. Another core CPI index for Tokyo (excluding food and energy prices) decreased in June to 1.8% year-on-year compared to the previous value of 2.2%.   Of course, these are not jumps that warrant sounding a loud alarm – all indicators are "hovering" around the target 2.0%. This allows Japanese officials to pause, without changing the vector of their monetary policy, and to limit themselves to verbal "interventions". Thus, Japan's Finance Minister Shunichi Suzuki once again stated that he is "deeply concerned about excessive and unilateral movements in the Forex market" and expressed hope that "trust in the Japanese currency is maintained". Suzuki's colleague, Cabinet Secretary Yoshimasa Hayashi, delivered almost the same speech word for word. However, he added that the authorities "will take appropriate measures regarding excessive currency movements", hinting at another currency intervention.   This hint from Yoshimasa Hayashi scared 60% of experts who voted for the pair's southward movement and yen strengthening, 20% pointed north, and 20% took a neutral position. The opinion of the indicators is unambiguous, as they have never heard of interventions. Therefore, all 100% of trend indicators and oscillators on D1 are green, although a quarter of the latter are in the overbought zone. The nearest support level is around 160.25, followed by 159.20, 158.65, 157.60-157.80, 156.60, 155.45-155.70, 154.50-154.70, 153.60, 153.00, 151.90-152.15, 150.80-151.00. The nearest resistance is in the 160.85 zone, followed by 161.30 and 162.50.   In the upcoming week, the calendar highlights Monday, 01 July. On this day, the Tankan Large Manufacturers Index will be published. No other important macro statistics regarding the state of the Japanese economy are planned for the coming days.   CRYPTOCURRENCIES: Causes and Consequences of "Black Monday" on 24 June     Monday, 24 June, presented investors with a very unpleasant surprise – on this day, bitcoin's price fell below $60,000 for the first time since 03 May, reaching $58,468 at one point. Ethereum, in turn, fell below $3,250. Analysts highlight several reasons for the active sell-offs, noting that they reflect overall instability in global financial markets and uncertainty about monetary and regulatory policies in several leading countries, especially China and the US. However, there are also more specific factors that contributed to the development of the bearish trend.   In mid-June, the German government began selling off a huge amount of bitcoins (about 50,000 BTC) confiscated in January. Panic sentiment sharply intensified after the announcement on 24 June that creditor payments for the bankrupt crypto exchange Mt.Gox would begin in early July. The total amount of funds to be distributed among former clients is 162,100 BTC, roughly $10 billion. Bitcoin responded to this news with an 8% drop. It’s no surprise – such a volume of coins flooding the free market can seriously knock down prices. In the derivatives market, long positions worth $177 million were forcibly liquidated, and the total financing rate for futures contracts turned negative for the first time in June, indicating that sales exceeded purchases.   It is precisely on the expectations of Mt.Gox debt payments that the flagship crypto asset's quotes reached the lowest level in the past eight weeks last Monday. In this situation, two things are encouraging. Firstly, the deadline for repayment falls on 31 October, and it's possible that payments will be made in parts over four months rather than all at once. And secondly, there is hope that not all creditors will rush to convert their bitcoins into fiat, but will hold onto them, hoping for price growth.   In addition to the above, BTC miners exerted some downward pressure on the market. It became known that their coin reserves reached a 14-year low, as they had to sell a significant amount of BTC due to the April halving to cover operational expenses. Recall that the cost of mining bitcoin, according to JPMorgan analysts, is $53,000. Historically, this cost level is a strong support for BTC/USD. However, even in March, JPMorgan did not rule out that after the halving, bitcoin could temporarily fall to $42,000.   In the absence of positive signals, the demand for spot bitcoin ETFs continues to decline, major market participants slow down their activity, and start to take profits. This also pressures the prices. CEO of investment company CryptoQuant Ki Young Ju calculated that over the past two weeks, bitcoin whales and miners set a record by selling coins worth $1.2 billion.   According to 10x Research, all last week, US spot BTC ETFs recorded investor outflows, and on 21 June, net outflow exceeded $105 million. 10x Research believes that bitcoin will now need to find a new price range to stabilize the decline and then find growth catalysts. In the medium term, according to 10x Research analysts, it is not worth expecting BTC to return above $70,000.   Popular analyst Matthew Hyland noted that the combined bitcoin balance on centralized exchanges reached a multi-year low. In theory, this could be seen as a bullish signal, but the crypto market leader is not yet eager to show an upward trend. Naturally, the publication of key US economic data could serve as a vector for further cryptocurrency movements. If the Fed takes its first step in easing its monetary policy in September, it could support risky assets, including bitcoin. According to Cryptology experts, the chances of bitcoin reaching a new all-time high by the end of September are quite high, and what is happening now is a phase of accumulation.   Despite the current decline, many investors remain optimistic, citing the cyclical nature of the crypto market. They also do not forget about the US elections. For example, former Goldman Sachs CEO Raoul Pal predicted significant bitcoin and cryptocurrency market growth in Q4 2024. In an episode of The Wolf Of All Streets podcast, the financier noted that risky assets like bitcoin usually rally against the backdrop of US presidential elections. "The final quarter of an election year is a real 'banana zone' for all assets. It always is," Pal optimistically stated, noting that the "banana zone" for cryptocurrencies in autumn is much more pronounced than, for example, for the Nasdaq index.   Bitcoin was also supported by billionaire Michael Saylor. His company, MicroStrategy, is one of the largest bitcoin holders in the world, with 205,000 BTC on its balance sheet. Despite the negative trend, it increased its reserves by another 11,931 BTC (over $700 million) in the past month alone. Saylor is convinced of the first cryptocurrency's ability to grow to $10 million with support from China and other factors. He believes that in the future, governments, especially China, will fully embrace the first cryptocurrency and integrate it into the state infrastructure. The entrepreneur declared all pre-bitcoin economic instruments obsolete. "Before Satoshi Nakamoto, economics was a pseudoscience. All economists before Satoshi tried to develop economic laws with shells, glass beads, pieces of paper, and credit instruments," the businessman wrote, calling bitcoin a "perfect asset."   In previous reviews, we already wrote that the launch of exchange-traded spot ETFs on Ethereum could give a certain boost to the digital asset market. On 25 June, SEC (US Securities and Exchange Commission) Chairman Gary Gensler noted that the registration process for new ETFs is "going smoothly," and the approval date depends on how quickly applicants submit adjusted S-1 forms. Bloomberg analysts call 02 July the expected approval date for new products. Reuters, citing anonymous sources, reports that a consensus has been reached between fund managers and the SEC in negotiations, and only the "final touches" remain.   Co-founder of venture company Mechanism Capital Andrew Kang stated that after the approval of ETH-ETF, Ethereum's rate could correct by 30%, falling to $2,400. In his opinion, at this stage, the main altcoin attracts much less attention from institutional investors compared to bitcoin. Based on this, ETH-ETF will attract only 15% of funds compared to what BTC-ETF received at the start.   Kang noted that to increase Ethereum's attractiveness among investors, its ecosystem needs to be positioned as a decentralized financial settlement layer, a global computer, or a Web3 application store. At the same time, it will be difficult to sell new ideas for Ethereum's application to funds, as the asset is perceived by investors as an overvalued stock of a large technology company.   Significantly more positively views the future of Ethereum Matt Hougan, CIO of Bitwise, a company managing cryptocurrency funds. In his opinion, the appearance of a long-awaited exchange product is undoubtedly a positive factor, and the net inflow of investments into ETH-ETF over the first 18 months will amount to $15 billion. In his analysis, he relies on the experience of Canada and the EU, where in similar products the inflow ratio for Ethereum and Bitcoin is approximately 1 to 4 (i.e., 25%). In other words, if in the first quarter of work for spot Bitcoin-ETF the total inflow was $26.9 billion, for Ethereum it is expected to be at the level of $6.7 billion. In this case, in three months of work, the leading altcoin could rise to $4,400-5,000.   CEO of SkyBridge Capital Anthony Scaramucci believes that the price of Ethereum could rise even higher, reaching $10,000-12,000. Regarding bitcoin, the entrepreneur allows for its growth to $170,000-250,000. The main driver, in his opinion, will be the further institutional acceptance of cryptocurrency. Scaramucci called the approval of spot exchange ETFs an important regulatory barrier breakthrough for attracting new capital. Thanks to this, in his opinion, the share of digital gold in the portfolios of major players will soon be about 3%.   As of the evening of Friday, 28 June, BTC/USD is trading at $60,190, and ETH/USD is in the $3,390 zone. The total crypto market capitalization is $2.24 trillion ($2.34 trillion a week ago). The bitcoin Fear & Greed Index (Crypto Fear & Greed Index) has dropped from 63 to 47 points over the past 7 days, moving from the Greed zone to the Neutral zone.   In conclusion, here is another observation from Matt Hougan. The CIO of Bitwise presented three reasons why long-term investments in both bitcoin and Ethereum are more advantageous compared to investing only in bitcoin. These are: 1. portfolio diversification 2. the opportunity to earn on very different ecosystems and 3. economic benefit.   Considering the difference in the capitalization levels of bitcoin and Ethereum, Hougan believes that 75% of the capital should be invested in BTC and 25% in ETH. According to calculations, over the period from May 2020 to May 2024, the yield of such an investment portfolio is 3% per annum higher than one that only contains bitcoin. However, Hougan acknowledges that in the shorter term, a portfolio including 100% BTC outperforms a diversified one. Moreover, investing only in bitcoin carries fewer risks due to its higher market capitalization and features such as limited coin issuance and a phased reduction in the inflation rate to zero.   NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
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