Topic: CRYPTONAIRE WEEKLY MAGAZINE 207TH EDITION IS OUT NOW

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CRYPTONAIRE WEEKLY MAGAZINE 207TH EDITION IS OUT NOW




The #1 CRYPTO TRADING MAGAZINE

Despite the slight downturn, the institutional adoption of Bitcoin continues to increase. Filings with the United States Securities and Exchange Commission show that four wealth management firms have bought shares in Grayscale’s Bitcoin Investment Trust.

A survey of about 42,000 people in 27 countries by product comparison website Finder showed a high adoption rate in Asia. Among the countries polled, Vietnam had the highest adoption rate at 41%, while India and Indonesia had a 30% adoption rate.

Bitcoin rallied to a new all-time high above $67,000 on Nov. 8. Even Ether was not to be left behind as it also made a new all-time high and neared the psychologically critical level at $5,000. With the two largest cryptocurrencies by market capitalisation leading the charge, the total crypto market cap topped $3 trillion for the first time, according to CoinGecko.

Bitcoin bounced off the 20-day exponential moving average (EMA) on November 6 and soared above the overhead resistance at £48,426.53 on November 8, defying our assumption of a consolidation. The BTC/GBP pair could now pick up momentum and charge toward the 161.8% Fibonacci extension level of £56,174.25 and if this resistance is crossed, the next stop could be £60,249.98.

Both moving averages are sloping up and the relative strength index (RSI) is in the overbought territory, indicating advantage to buyers The important level to watch on the downside is £48,426.53. If bulls flip this level into support during the next correction, the possibility of the resumption of the uptrend will be high.

On the other hand, a break and close below £48,426.53 will be the first indication that traders are booking profits at higher levels. The pair may then drop to the 20-day EMA. The bears will have to pull the price below this support to signal that the bullish momentum has weakened.

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!

Featuring in this weeks Edition:

- Mimir

- Funganomics

- Giving to Service

- Xanto

- 99 Defi Network

- Beatbind

- Main frame Protocol

- Smartchem

- Mandala Exchange

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