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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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Bitcoin Price Hits 1000-Day High, New Bull Cycle Inbound?

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Bitcoin price has broken over $14,100 for the first time since January 15, 2018 – a staggering 1,020 days ago. The move has coincided with the 12-year anniversary of the first release of the Bitcoin whitepaper and $7 billion flooding back into the market during the start of the US trading session.

Is this the start of the new bull cycle PlanB has been predicting that will propel BTC prices to over $100,000 per coin?

Price Levels to Watch in the Short-term

On the 4-hour BTC/USD chart, we can see that bullish traders are battling hard right now to defend $13,900 after selling pressure at the psychological $14K sent bitcoin’s price tumbling.

Just underneath, there is a new flipped level at the former YTD-high ($13,800), which should provide some intraday support if prices continue to retreat. If bears can overcome this, then additional supports can be found at the $13,600, $13,270, 50-EMA line (blue) at $13,190, and main channel support at $12,970.

Taking a broader look using the weekly chart, we can that prices continue to track inside a steep rising wedge pattern. This is typically a bearish reversal pattern, but it can sometimes be rejected if substantial buying volume arrives when the price action reaches maximum consolidation.

Looking above at the next most likely price targets, the weekly $14,670 level, $14,380, and $15,000 are the most obvious resistances Bitcoin will face if the uptrend continues. After that, there doesn’t appear to be many resistances in the way until the fabled $16,000 mark.

The Technicals

On the 4-hour RSI, we can see the latest rally was foreshadowed by a new higher low (white arrow) on the indicator – as was predicted in the previous bitcoin analysis. However, even though the latest surge has pushed BTC above the RSI resistance line (red), we still have yet to see a new higher high appear.

Bitcoin has not even broken above the overbought region on the RSI indicator yet, which will likely pile new selling pressure on top of the uptrend and could keep BTC from recovering above $14K in the short-term.

On the weekly RSI, however, we can see that the leading crypto has, in fact, broken into the overbought region for the first time since July 2019. Again, this will likely have some impact on the price action as we go into the new week.

Total market capital: $409 billion
Bitcoin market capital: $256 billion
Bitcoin dominance: 62.6%

*Data by Coingecko.

Bitstamp BTC/USD Weekly Chart

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BTC/USD chart via Tradingview

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD chart via Tradingview
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-price-hits-new-1000-day-high-new-bull-cycle-inbound/

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Bitcoin and DeFi Rally Led Crypto Hedge Funds To Log More Than 100% Gains in 2020

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Owning to the Bitcoin and the aggregated cryptocurrency market’s recent roaring rally, BTC, and crypto hedge funds have reportedly registered profits upwards of the 100 percent mark. This comes amid the rising sentiment of sidestepping banks to avail quick loans through digital assets. What does this say about the cryptocurrency industry?

Bitcoin And Cryptocurrency Hedge Funds Raked In A Lot Of Moolah

As per Reuters’ latest report, Christmas for digital currency-based hedge fund owners will be 100 percent ‘merry’. Why? Well, bitcoin’s recent explosive price rally has led them to log near 100 percent gains on the back of increased crypto lending and borrowing transactions.

Madison Avenue, New York-based crypto hedge fund and asset management firm Vision Hill Group clocked 126 percent profits this year. The company opened doors to the public 2 years ago in September 2018.

Commenting on this glorious achievement, Scott Army, founder and chief executive officer of Vision Hill, said:

The emergence of decentralized finance, or DeFi, which are crypto platforms that facilitate lending outside of traditional banking institutions, was at the core of crypto funds’ robust performance this year…

DeFi Is The ‘Real Deal’ According To Digital Asset Funds

While Vision Hill has decent exposure in DeFi, the biggest investor in the decentralized finance space, Framework Ventures, a $100-million venture capital fund has high hopes from DeFi. The company believes that DeFi’s moment of achieving mainstream adoption is nigh.

This prediction of DeFi’s future outlook comes from its towering rise throughout his year. According to DeFi Pulse, the total USD value locked in decentralized finance protocols has soared to $11.1 billion. Also, Framework Ventures co-founder Michael Anderson observed that few DeFi platforms actually hold more volume than their much larger centralized exchange counterparts.

And this has led to users developing increased confidence in DeFi markets.

Users are trying to vote with their dollars in terms of how they view the capabilities of DeFi -said Mr. Anderson

This Year’s BTC Rally Was The Cherry On Top Of The Cake

Apart from the DeFi boom, crypto hedge funds had their cash registers ringing due to Bitcoin jumping almost around percent from its March lows to above $14,000. Orlando, Florida based Off the Chain Capital raked in 94 percent returns this year. Also, since it’s inception in 2016, the crypto asset fund has clocked average annual returns of 112 percent.

Whats does this tell us about the state of the bitcoin and cryptocurrency market? Are we past the time of geeks, technocrats, and cypherpunks dabbling in crypto talks and trades? Terry Culver, chief executive officer at Digital Finance Group USA, thinks so.

He said that the crypto space has matured, with a lot more innovation in the industry. And that

It’s not as speculative as it was three or four years ago.

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Source: https://cryptopotato.com/bitcoin-and-defi-rally-led-crypto-hedge-funds-to-log-more-than-100-gains-in-2020/

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Bitcoin Price Prediction: BTC/USD Hits $14,000 High, Can Bulls Sustain an Upturn?

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Bitcoin (BTC) Price Prediction – October 31, 2020
Today, BTC rebounded twice as bulls break the $13,600 and $13,800 resistances. Incidentally, Bitcoin has reached the $14,000 high. Nonetheless, the coin is facing resistance at the recent high. Buyers must sustain the current move above $13,800 high.

Resistance Levels: $13,000, $14,000, $15,000
Support Levels: $7,000, $6,000, $5,000

BTC/USD – Daily Chart

Following its recent upward move, the price range between $13,060 and $13,600 has been broken. After the recent breakout, BTC rally to a $14,055 high. The current uptrend was not sustained after the breakout. Therefore, BTC is trading below the $14,000 resistance. In the meantime, the BTC price is retracing from the recent resistance zone.

The market will move up if price finds support above the $13,800 high. However, if the $13,800 is broken, the next support will be the $13,600 low. Presently, Bitcoin is hovering above $13,800 after testing the $14,000 resistance. Bitcoin is trading above the 80% range of the daily stochastic. Bitcoin is in a strong bullish momentum.

Bitcoin Will Win Whether Trump or Biden Wins in the U.s Election by Barry Silbert
According to Grayscale CEO, Bitcoin will win because the election of Trump or Biden victory would result in the expansion of the US dollar supply. Therefore, a Democratic sweep led by Joe Biden or a Donald Trump reelection will only amount to sustaining Bitcoin. Grayscale, is a cryptocurrency investment firm that carried out a study on Oct. 27.

It indicated that the potential market for Bitcoin has significantly expanded in 2020. This is what the study reads: “Interest is on the rise: More than half of U.S. investors are interested in investing in Bitcoin In 2020, more than half (55%) of survey respondents expressed interest in Bitcoin investment products. This marks a significant increase from the 36% of investors who said they were interested in 2019.”

BTC/USD – 4 Hour Chart

On the 4-hour chart, Bitcoin is facing rejection at the $14,000 resistance. This week Bitcoin will be trading above the $14,000 high. On October 28 uptrend, the retraced candle body tested the 38.2% Fibonacci retracement level. This retracement indicates that the market will rise to level 2.618 Fibonacci extension. That is the high of $15,544.40.

Source: https://insidebitcoins.com/news/bitcoin-btc-price-prediction-october-31-2020

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