Bitcoin better than stocks and gold? Crypto market on the up

Bitcoin has shown a significant upward trend lately. In mathematical terms, Bitcoin has a higher return than stocks and gold.

All Bitcoin Hodlers will be happy right now, because the king of cryptocurrencies is rising and rising. The website Messari.io showed that Bitcoin performed better than real estate, gold and stocks over a four-year period.

Doesn’t Bitcoin (yet) correlate with other assets?

Apparently, Bitcoin has a low correlation with other assets. This opinion used to be widespread among analysts too, but was cast into doubt in March 2020 when it came to the acid test. Contrary to expectations, Bitcoin did not remain stable at the beginning of the corona crisis. Rather , the Bitcoin price fell like the stock market, albeit a little less deep. This shook the very foundations of the self-image of the Bitcoin disciples, who had viewed their asset as effective crisis prevention.

The reason for the price loss ultimately remains unclear. Experts believe that large investors see Bitcoin more as “shares” than “gold” and have therefore sold it. It is also possible that a liquidity crisis broke out with Corona. This could have resulted in investors having to monetize their assets. This then affected stocks as well as cryptocurrencies, especially Bitcoin.

Bitcoin is attractive

More and more professional investors have now discovered the at least low correlation. They are allocating more and more funds for Bitcoin, according to Messari, in order to maximize their long-term profits.

The big companies that have added Bitcoin to their portfolio include more than 20 financial institutions , such as Rothschild Investment and Boston Private Wealth.

Is there a threat of inflation?

Many people also see Bitcoin as one of the few ways out of the US dollar and the euro. Many large central banks are currently flooding the markets with money to keep the national economy going. Whether this “Modern Monetary Theory” will work remains to be seen. It seems questionable, however, that the basic rules of economics can be overridden. An increase in the money supply basically means inflation. Mind you, this does not mean that there will be (disastrous) hyperinflation.

Nevertheless, many investors seem concerned and want to keep their assets safe as a precaution. Real estate is at high prices, gold is often sold out, and stocks are currently expensive. It is only too understandable that some investors take a look at the technology of the future and recognize the potential of Bitcoin.

Two DeFi tokens, AAVE and SNX, could have started a rebound

Aave follows a descending resistance line.

There is support at $ 28.50, as well as resistance at $ 45 and $ 58.

The SNX broke a line of descending resistance

Aave (AAVE) price has started to rebound from a strong support area, but has yet to break above its descending resistance line.

The Synthetix Network token has already crossed its descending resistance line and has started to rise.

The BitQT was down from its August 26 high at $ 90.89, passing a descending resistance line in passing.

On November 5, the price hit a low at $ 24.66 before starting to rise. This caused a deviation below the $ 28 support, which the price regained soon after.

That said, the price has not yet broken the descending resistance line. If it succeeds, the closest resistance areas will be found at $ 45 and $ 58

The tradeuse of cryptomonnaies @Altcoinsherpa shared a graph showing AAVE that the course is a support level. According to her, the price could start to rise soon. The price has already rebounded on the support zone and its trend would be confirmed by a passage above the resistance line.

Technical indicators show a growing bullish divergence in the RSI like the MACD. This tells us that an upward movement may soon take place.

That said, the RSI is below 50, the MACD is below zero and the Stochastic Oscillator has yet to generate a bullish cross. Until this changes, it cannot be said with certainty that the trend is upward.

A move above the resistance line would likely allow technical indicators to turn bullish.

Criptoanalista sul divario tra Bitcoin impennato e Altcoin

Criptoanalista sul divario tra Bitcoin impennato e Altcoin puniti ingiustamente

Martedì (3 novembre), Simon Peters, analista di crittografia presso eToro, la principale piattaforma di social trading al mondo, ha parlato dell’ampio divario tra Bitcoin e altcoins.

In una nota condivisa con CryptoGlobe, Peters ha detto

„Mentre il bitcoin è andato alle stelle, gli altcoin sono andati a picco, e alcuni sono ora il 50% al di sotto dei loro massimi storici dopo tre mesi di lavoro.

„Al contrario, molti di loro ora commerciano a livelli molto più interessanti, fornendo potenziali opportunità per gli investitori. In effetti, alcuni dei cali che abbiamo visto in questi altri criptoasset sono stati del tutto ingiustificati, e non ci aspettiamo che lo sconto tra bitcoin e gli altri altcoin rimanga così ampio.

„Guardando al futuro, il coronavirus continua a incutere paura nei Crypto Engine cuori degli investitori, in particolare in Europa e negli Stati Uniti, e molti investitori potrebbero cercare di tornare al bitcoin come alternativa ai mercati azionari volatili.

„Il fatto che questo significhi o meno un’ennesima corsa al rialzo per il bitcoin dipende da una serie di fattori. In primo luogo, il risultato delle elezioni americane previsto per domani mattina è cruciale, così come la negoziazione di un pacchetto di stimoli fiscali. Una disputa negli Stati Uniti sul risultato delle elezioni dopo la presidenza rimane un pericolo chiaro e presente per molti asset, incluso il Bitcoin. Sullo sfondo, però, gli sviluppi positivi – come l’imminente servizio di criptaggio di PayPal – forniscono molte ragioni per essere allegri, e nel medio e lungo termine, gli investitori dovrebbero aspettarsi alti (e bassi) più alti per il bitcoin.

„I prezzi sono già stati forti quest’anno, in particolare per il bitcoin, e mentre il prezzo non ha ancora superato i 14.000 dollari, una volta che lo farà – come è successo con i precedenti livelli di resistenza a 10.000 e 12.000 dollari – allora si prospetta un potenziale aumento verso l’alto verso i 20.000 dollari.

Glassnode ha commentato nel numero del 2 novembre 2020 della sua newsletter „The Week On-Chain“ sulle prestazioni dei migliori altcoin contro Bitcoin:

„Gli altcoin top si sono comportati tutti male accanto a BTC per tutta la Settimana 44“. Per la seconda settimana consecutiva, hanno perso valore in termini di BTC, con il più grande perdente ancora una volta è stato BNB, con un -10,6% accanto a Bitcoin.

„Nel frattempo, l’ETH, che ha visto alcuni guadagni la settimana precedente, ha perso il 7,4% accanto a BTC nell’ultima settimana“.