BTC cracks $30K, supply squeeze worsens, XRP implodes: Hodler’s Digest, Dec. 27–Jan. 2

BTC cracks $30K, supply squeeze worsens, XRP implodes: Hodler’s Digest, Dec. 27–Jan. 2
BTC cracks $30K, supply squeeze worsens, XRP implodes: Hodler’s Digest, Dec. 27–Jan. 2

BTC cracks $30K, supply squeeze worsens, XRP implodes: Hodler’s Digest, Dec. 27–Jan. 2

Title: BTC cracks $30K, supply squeeze worsens, XRP implodes: Hodler’s Digest, Dec. 27–Jan. 2
Sourced From: cointelegraph.com/magazine/2021/01/02/30k-cracked-supply-squeeze-xrp-implodes-1227-0102
Published Date: Sat, 02 Jan 2021 19:02:29 +0000

BTC cracks $30K, supply squeeze worsens, XRP implodes: Hodler’s Digest, Dec. 27–Jan. 2

BTC cracks $30K, supply squeeze worsens, XRP implodes: Hodler’s Digest, Dec. 27–Jan. 2 was originally published here https://observednews.wordpress.com/2021/01/03/btc-cracks-30k-supply-squeeze-worsens-xrp-implodes-hodlers-digest-dec-27-jan-2/
BTC cracks $30K, supply squeeze worsens, XRP implodes: Hodler’s Digest, Dec. 27–Jan. 2 was originally published here https://marlabrooks.blogspot.com/2021/01/btc-cracks-30k-supply-squeeze-worsens.html

How massive Bitcoin buyer activity on Coinbase propelled BTC price past $32K

How massive Bitcoin buyer activity on Coinbase propelled BTC price past $32K
How massive Bitcoin buyer activity on Coinbase propelled BTC price past $32K

How massive Bitcoin buyer activity on Coinbase propelled BTC price past $32K

Coinbase has seen a large spike in buyer activity overnight as the price of Bitcoin (BTC) surpassed $32,500 on Jan. 2. Analysts say the trend was reminiscent of MicroStrategy’s Bitcoin accumulation, possibly fueled by institutional buy orders. As a result, BTC surpassed $31,000, reaching a new all-time high.

BTC/USD daily candle chart (Coinbase). Source: Tradingview

Coinbase buyers were the catalyst for the Bitcoin rally

In the last 48 hours, Coinbase has continuously seen a high premium compared to Binance. At one point, Bitcoin on the exchange was $100 more expensive than on Binance.

When the price of Bitcoin surpassed $30,000, the premium reached as high as $350. For instance, when Bitcoin was trading at $30,000 on Binance, BTC was priced at $30,350 on Coinbase.

Prior to the rally, CryptoQuant CEO Ki Young Ju said that low Coinbase outflows posed a risk to Bitcoin’s rally. He said that outflows would have to increase for BTC to find new momentum, which it did. He said before the rally:

“We haven’t had significant Coinbase outflows since $23k, tokens transferred is decreasing, and the fund flow ratio for all exchanges is increasing. Still possible that institutional investors would join anytime soon, but we might face a correction if it continues like this.”

As Bitcoin neared $29,500, Coinbase outflows began to spike. Ki said that they are possible over-the-counter (OTC) deals, which are typically bullish for BTC and exemplifies a wider trend of dwindling BTC reserves on exchanges.

As we pump, another 34K btc got casually taken off exchange in the last few blocks pic.twitter.com/8r20JnOGaj

— //Bitcoin ack (@BTC_JackSparrow) January 2, 2021

High-net-worth buyers use the OTC market to buy or sell large amounts of Bitcoin. Hence, when the signs of OTC deals emerged, Ki said this was positive for BTC. Merely two days after the outflows spiked, BTC surged past $30,000, reaching $31,400. Ki noted before BTC broke $30,000:

“12,063 $BTC just flowed out from #Coinbase. It went to multiple cold wallets. Possibly OTC deals. Breaking 30k is going to be tough, but institutions don’t care. They just buy it more.”

Coinbase outflows. Source: CryptoQuant

Why is BTC becoming so appealing?

According to Ashwath Balakrishnan, an analyst at Delphi Digital, Bitcoin became more compelling when it surpassed its all-time high.

When the price of Bitcoin was hovering at around $4,000, the risk of a significant downside was high, combined with high uncertainty around the medium-term prospect of BTC.

Hence, when Bitcoin surged past $20,000, the dominant cryptocurrency became more compelling for investors. He said:

“Buying $BTC post- ATH is actually superior than sniping the bottom from a risk adjusted lens If you bought at $20k you’re up 50% with minimal friction in between Bottom buyers ~$4k are up almost 8x but their risk of blowing up was much higher.”

In the near term, a popular narrative that could buoy the Bitcoin price higher is the prediction that institutions might not have bought BTC in December due to potential accounting issues.

As such, some analysts say that more institutions could jump into Bitcoin in the first quarter of 2021. If this happens, which would be evident through Grayscale’s assets under management and the CME Bitcoin futures market’s open interest, it would likely cause a broader BTC rally.

Title: How massive Bitcoin buyer activity on Coinbase propelled BTC price past $32K
Sourced From: cointelegraph.com/news/how-massive-bitcoin-buyer-activity-on-coinbase-propelled-btc-price-past-32k
Published Date: Sat, 02 Jan 2021 16:32:11 +0000

How massive Bitcoin buyer activity on Coinbase propelled BTC price past $32K

How massive Bitcoin buyer activity on Coinbase propelled BTC price past $32K was originally published here https://observednews.wordpress.com/2021/01/02/how-massive-bitcoin-buyer-activity-on-coinbase-propelled-btc-price-past-32k/
How massive Bitcoin buyer activity on Coinbase propelled BTC price past $32K was originally published here https://marlabrooks.blogspot.com/2021/01/how-massive-bitcoin-buyer-activity-on.html

High volume surge propels Bitcoin price to a new all-time high at $29,000

High volume surge propels Bitcoin price to a new all-time high at $29,000
High volume surge propels Bitcoin price to a new all-time high at $29,000

High volume surge propels Bitcoin price to a new all-time high at $29,000

Within the last hour, Bitcoin (BTC) price rallied to set a new all-time high at $29,000. 

On Dec. 29 Bitcoin price attempted to push through a stiff resistance cluster at $28,500 but after rallying to $28,600 the price rejected with a sharp correction to $27,300.

Daily cryptocurrency market performance. Source: Coin360

Today’s move to $29,000 came after a high volume surge pushed through the $28,500 resistance but the battle for $30,000 is far from over.

Data from Material Indicators shows there are still sell walls near the $30,000 level at Binance and other major cryptocurrency exchanges.

BTC/USD sell walls near $30,000. Source: Material Indicators

Barring another sustained high volume surge in purchasing volume, the presence of sell walls suggests that a rally to $30,000 may trigger a strong sell-off and cause BTC price to revisit key underlying supports at $28,000 and $27,300 where the 20-day moving average currently resides on the 4-hour timeframe.

$30,000 then moon?

Many retail traders expect Bitcoin price to soar well above $30,000 once the psychological barrier is overcome but Nunya Bizniz, a popular trader on Twitter, points out that above $30,000 Bitcoin price begins to look a bit overextended as the 1.618 Fibonacci retracement is at $30,196.

BTC/USD monthly chart. Source: Twitter

Given that Bitcoin price has rallied 64.9% since the start of December, hitting the 1.618 Fib level could provide a signal that a pullback is on the cards but ultimately, volume will be the primary indicator of where the price may go.

Currently, Bitcoin price has gained 302.6% for the year and is vastly outperforming gold and traditional markets like the Dow and S&P500. For Q4, BTC has rallied by 168.32%, securing the second-best quarterly performance since 2017 when the digital asset gained 210.13% in Q4.

com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Title: High volume surge propels Bitcoin price to a new all-time high at $29,000
Sourced From: cointelegraph.com/news/high-volume-surge-propels-bitcoin-price-to-a-new-all-time-high-at-29-000
Published Date: Wed, 30 Dec 2020 21:55:34 +0000

High volume surge propels Bitcoin price to a new all-time high at $29,000

High volume surge propels Bitcoin price to a new all-time high at $29,000 was originally published here https://observednews.wordpress.com/2020/12/31/high-volume-surge-propels-bitcoin-price-to-a-new-all-time-high-at-29000/
High volume surge propels Bitcoin price to a new all-time high at $29,000 was originally published here https://marlabrooks.blogspot.com/2020/12/high-volume-surge-propels-bitcoin-price.html

‘Bitcoin liquidity crisis’ — BTC is becoming harder to buy on exchanges, data shows

‘Bitcoin liquidity crisis’ — BTC is becoming harder to buy on exchanges, data shows
‘Bitcoin liquidity crisis’ — BTC is becoming harder to buy on exchanges, data shows

‘Bitcoin liquidity crisis’ — BTC is becoming harder to buy on exchanges, data shows

Bitcoin is becoming more difficult to buy, according to analysts at Glassnode. The amount of BTC received and spent among entities is decreasing, which means the liquidity is declining.

If Bitcoin (BTC) liquidity is low, it means there is less BTC available to buy and sell. In the medium term, this could make BTC even more scarce.

Bitcoin liquid and illiquid supply. Source: Glassnode

Bitcoin on track for an explosive 2021

Throughout 2020, institutions have been increasingly accumulating Bitcoin, which has become compelling because of its fixed supply.

In recent months, the concerns about inflation and rising central bank liquidity have intensified. This trend has led high-profile institutional investors, like Paul Tudor Jones, to consider Bitcoin as a potential hedge against inflation.

Meanwhile, a trend that was kickstarted by MicroStrategy’s $425 million Bitcoin purchase in the summer spilled over to other financial giants. Eventually, PayPal, Square and even insurance conglomerates like MassMutual stepped into the fray.

Consequently, the institutional accumulation of Bitcoin has accelerated since. As a result, Glassnode found that only 4.2 million BTC are in constant circulation for buying and selling. The firm wrote:

“Bitcoin liquidity is defined as the average ratio of received and spent BTC across entities. We show that currently 14.5M BTC are classified as illiquid, leaving only 4.2M BTC in constant circulation that are available for buying and selling.”

In the past 12 months, $27.8 billion worth of Bitcoin has become illiquid. More long-term investors are holding onto their BTC, refraining from selling their assets.

If long-time holders continue to move away from selling their BTC, the dominant cryptocurrency would become more scarce and difficult to accumulate.

Such a trend would push up the value of Bitcoin in the longer run, fueling the ongoing bull cycle. The analysts explained:

“Over the course of 2020, a total of 1 million additional BTC have become illiquid — investors are increasingly hodling. This is bullish, and suggests that the current bull run has been (partly) driven by this emerging #Bitcoin liquidity crisis.”

There is a variable in miners

Another factor that could cause the circulating supply of Bitcoin to decrease in the foreseeable future is miners.

Kyle Davies, the co-founder of Three Arrows Capital, said that there is a shortage of ASIC miners. Typically, miners would deploy capital to acquire hardware such as ASIC miners. But given that they are unable to buy, that could potentially drive inflows into BTC. He said:

There is a big shortage of ASIC’s. Miners only need to sell enough bitcoin to cover existing USD operational costs. They are incentivized to hold all capital that would otherwise be deployed into buying hardware, in $BTC.

— Kyle Davies (@kyled116) December 30, 2020

The combination of multiple factors, such as increased HODLing activity, the likelihood of miners selling less BTC, and the drop in Bitcoin liquidity could further fuel BTC’s momentum in the first quarter of 2021.

Title: ‘Bitcoin liquidity crisis’ — BTC is becoming harder to buy on exchanges, data shows
Sourced From: cointelegraph.com/news/bitcoin-liquidity-crisis-btc-is-becoming-harder-to-buy-on-exchanges-data-shows
Published Date: Wed, 30 Dec 2020 15:00:00 +0000

‘Bitcoin liquidity crisis’ — BTC is becoming harder to buy on exchanges, data shows

‘Bitcoin liquidity crisis’ — BTC is becoming harder to buy on exchanges, data shows was originally published here https://observednews.wordpress.com/2020/12/31/bitcoin-liquidity-crisis-btc-is-becoming-harder-to-buy-on-exchanges-data-shows/
‘Bitcoin liquidity crisis’ — BTC is becoming harder to buy on exchanges, data shows was originally published here https://marlabrooks.blogspot.com/2020/12/bitcoin-liquidity-crisis-btc-is.html

Travel Plans Starting to Increase As Fears of Pandemic Subside

Travel Plans Starting to Increase As Fears of Pandemic Subside
Travel Plans Starting to Increase As Fears of Pandemic Subside

Travel Plans Starting to Increase As Fears of Pandemic Subside

If you feel like travel has gotten humdrum, it may be time to look into adventure travel for your next trip. When you’re engaged in adventure travel, you’re usually doing more than sitting on a tour bus or taking snapshots. Whether you like speed, water, snow or caves, you can find an adventure travel activity and destination that’s tailor made for you. We’ll be providing some ideas in this article, though the possibilities are really endless.

If you want to swing from the trees like Tarzan in a safe way, zipline tours should appeal to you. This is a type of travel where you’re sort of gliding from one tree to the next on a cable, so you can see everything from above. This allows you to see things from a completely different perspective than if you were walking or riding on the ground.

Instead of seeing things at ground level, you’re seeing them from tree level. Although some people find this a little scary at first, it’s not that hard once you get accustomed to it. As zipline tours become better known, more and more people are discovering how much fun they can be.

Rock climbing has been the sport of choice for many in the past and present as well. There are many places in the world where you can go on trips that involve rock climbing, whether you’re experienced at it or just starting to learn. Tyler Tysdal, an entrepreneur in Denver, mentions that the mountain range you find in Colorado will deliver a great rock climbing opportunity if the United States is your country of choice. You will also find awesome places to find rock climbing prospects in Europe, Asia and Canada. You will be able to locate a plan considering your potential and capability when it comes to rock climbing. The experience will be laid out for you and they will let you know what kind of things you will for the outing.

Rock climbing is considered a sport with not a great amount of risk as long as you have hired an experienced climber to teach you the ropes.

The majority of people never get to see the world through the eyes of scuba divers, which is really a shame. Seeing the ocean from the safety of the shore is no substitute for seeing it up close the way divers do. Scuba diving can be one anywhere there’s deep water, but some of the best spots are Australia, the Cayman Islands and Mexico. Scuba diving is a fairly complex sport, so if you’ve never done it, you first have to look into getting the proper certification you need to do it safely. You don’t necessarily have to visit an exotic location, however, to get certified, so you should research the closest place that offers this.

There are all kinds of adventure travel, and you can let your imagination run wild with the possibilities. If you’re going to be doing something difficult or challenging, you can find a trip that’s made for either beginners, intermediate or advanced levels. Even if you want to try something you’ve never done before, it’s usually possible to find a tour that can teach you the basics in a fun and exciting environment. You don’t want to end up on a trip that’s either too difficult or not challenging enough for you.

Travel Plans Starting to Increase As Fears of Pandemic Subside

Travel Plans Starting to Increase As Fears of Pandemic Subside was originally published here https://observednews.wordpress.com/2020/10/19/travel-plans-starting-to-increase-as-fears-of-pandemic-subside/
Travel Plans Starting to Increase As Fears of Pandemic Subside was originally published here https://marlabrooks.blogspot.com/2020/10/travel-plans-starting-to-increase-as.html