Bitcoin and Ethereum, combined, had a total market cap of around $ 630 billion, out of a total crypto market cap of $ 766 billion. Such were the feats of these two assets in 2020. The two cryptos are vying for the limelight. While Bitcoin apparently ends on a new high in 2020, Ethereum is also making some waves in its market.
Ethereum moved above $ 750 for the first time since March 2018. As the feat was achieved after 31 months, significant holding addresses were discovered. According to Santiment, 39 ETH addresses holding more than 10,000+ have been identified. It is also important to note that the number of addresses containing 1 to 10,000 ETH has decreased, with addresses from 1 to 100 ETH also decreasing.
Such strong accumulation activity has generally been seen in the case of Bitcoin, but now the narrative is starting to take shape among ETH holders as well.
The hodling sentiment can be further supported by the 3 month net trading flow. The drop in exchange rate represented the difference in volume between ETH entering / exiting exchanges. It says fewer tokens were entering the exchange for retail.
The risk / reward factor for Ethereum was developed earlier and investors are starting to take note of the situation. Indeed, the crypto-asset is still halfway to its all-time high of $ 1,400.
Interest in the options market remains high
The derivatives market doesn’t sleep on Ethereum either. Recent data suggests that ETH options traders expect the price to rise another 20%. It can reach $ 880 by the end of January.Open interest in Ether options rose 150% in the fourth quarter of 2020. Bitcoin Options’ OI has fallen in recent weeks. It is telling that despite having peaked at $ 750. Professional traders remain confident in Ether’s future potential; the Bitcoin derivatives market was still lacking momentum and its open interest is expected to decline in January. Ethereum, however, had a completely different picture for the coming year. The world’s largest altcoin was dragging its bullish momentum.
Well done, you’ve read this entire article
To congratulate you we are going to offer you our free method of investing in crypto-currencies simply and automatically with the objective of generating regular income while protecting your capital as much as possible.
Please change your life!!! Click on the link! http://youtube.com+watch=@3162039724/Yhqr
Can you afford this thing?: http://youtube.com+watch=@3162039724/orwTH
Software at the best prices: http://amzn.com@3162039724/f3ANs
This week, the crypto market erupted with Bitcoin surging to test downtrend resistance, while altcoin assets everywhere exploded through their downtrend resistance and went on massive rallies. Some even went on a 400% rally, shocking crypto investors who have watched the asset class in a perpetual state of decline over the last two years. But not everyone is convinced that the rally has legs, or even understand why the rally is occurring. Even a well-known billionaire crypto investor with his own crypto-focused fund doesn’t understand the current rally or what has changed across the crypto market that would cause such a surge. After spending nearly six full months suffering deeper losses, the altcoin market may finally be ready once again for liftoff, as many of the crypto market’s top assets, including Bitcoin, have gone on massive rallies. Related Reading | Ready for Liftoff: Altcoin Market Cap Breaks Out of DowntrendWhile the number one crypto asset by market cap, Bitcoin, is also surging alongside the other cryptocurrencies like Etheruem and Litecoin, these altcoins are greatly outperforming it on their BTC ratios. Bitcoin forks Bitcoin SV and Bitcoin Cash – even more obscure forks like Bitcoin Gold and Diamond – all exploded in value, with BSV leading overall gains with nearly a 400% rally this week on the heels of news that frontman Craig Wright uncovered new documents in a pending court case against the estate of David Kleiman. And while the court case provided an explanation for why BSV skyrocketed, the rest of the crypto market is left scratching their heads as to why other altcoins took off this week. Even Mike Novogratz, CEO of crypto investment firm Galaxy Investment Partners and Galaxy Digital Assets, doesn’t understand the rationale behind the altcoin rally. Novogratz knows markets. After spending time in his early career as a partner at Goldman Sachs, Novogratz moved on to Fortress Investments where he worked as a hedge fund manager for high wealth clients. From there, Novogratz entered the crypto market and is now one of the most respected figures in the space. There are a number of theories floating around the crypto community, with some pointing to whales playing games on derivatives exchange OKEx with illiquid assets and causing FOMO buying from retail crypto traders. Other theories simply point to the market cycle restarting once again, altcoins reaching such oversold conditions, and more. Related Reading | Psychology of a Market Cycle: Are Bitcoin Investors In Denial or Disbelief? Market psychology could also suggest that the market – including billionaire CEO former ex-hedge fund managers – are still in the disbelief phase and can’t see past the recent bear market to realize that the selloff has ended, and a new uptrend is about to begin.
All data is taken from the source: https://www.newsbtc.com/
Article Link: https://www.newsbtc.com/2020/01/15/even-a-billionaire-crypto-investor-doesnt-understand-the-recent-altcoin-rally/
#market #btscstockprice #mbtctousd #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange
Even a Billionaire Crypto Investor Doesn’t Understand The Recent Altcoin: https://www.youtube.com/watch?v=DiQgA21ok_o
Join Our Patreon To Participate In The Live Chat!
Official Website! Visit to join our Patreon Members Area and Live Chat!
🚀 Send a Tip to the Streamer 🚀
(NOTE: MAKE SURE TO ENTER YOUR USERNAME or you will show up as an “Anonymous” donor.)
Support the stream with fiat: https://streamlabs.com/thebigbeesy
Tip with cryptocurrency: https://streamlabs.com/thebigbeesy#/crypto
Join Our Official Crypto Currency Media Hub At http://www.bitblaster.io
Do NOT trade based on what you see in this analysis. Crypto News and the Analyst that produced this analysis are not be held responsible for any losses that may occur. You and you alone are responsible for deciding if you are comfortable accepting the risk involved in trading. You should only trade based on your knowledge, experience, and risk as a trader. This information is for educational purpose only. Trading in any market contains a high degree of risk. It is possible and EXTREMELY likely that you will lose some if not all of your initial investment. Crypto News or the Analyst that produced this analysis is not a licensed financial planner or adviser. If you are unsure of anything in the financial market, always seek advice from a licensed financial planner or adviser. Any and ALL content published by Crypto News and/or affiliates should be NOT be considered financial advice. Invest at your own risk and as always, do your own research!