Bitcoin price dives back under $16,900 as whale deposits spike again

By JOSEPH YOUNG

The price of Bitcoin (BTC) dropped below $16,900 again on Nov. 27 across top exchanges, including Binance. The recent pullback comes as whale exchange deposits started to increase.

Ki Young Ju, the CEO of CryptoQuant, reported that the All Exchange Inflows Mean indicator reached the “danger zone.” Historically, this caused BTC to suffer short-term corrections.

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Iran Adopts Bitcoin for International Trade Amid Heavy Sanctions, Falling Rial, Soaring Inflation

By Kevin Helms

Iran is undergoing a severe economic crisis as Covid-19 cases surge in the country. The Iranian health ministry says that the number of daily Covid-19 infections has more than quadrupled in less than two months. In addition, an increasing number of sanctions have been placed on Iran by the U.S. government, while the local fiat currency, the rial, continues to dramatically fall.

Steve H. Hanke, Professor of Applied Economics at Johns Hopkins University and a hyperinflation expert, described the situation in Iran as “a classic death spiral.” He detailed on Wednesday:

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Bitcoin Closes on $12K But a Wall of Sell Orders Awaits: Analyst

By Omkar Godbole

Bitcoin is on the rise toward $12,000, but may face a stiff challenge to cross the price hurdle.

  • The leading cryptocurrency by market value is currently trading near $11,900, a 1.2% gain on the day.
  • Prices broke out of a descending triangle on Monday, confirming a resumption of the rally from Oct. 8 lows near $10,500 and opening the doors for the psychological hurdle of $12,000.
  • “I expect bitcoin to reach $12,000,” Patrick Heusser, senior cryptocurrency trader at Zurich-based Crypto Broker AG, told CoinDesk, noted in his analysis early Tuesday.
  • Crypto analyst Lark Davis believes bitcoin is now positioned for a notable rally.

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All Eyes on Fed Reserve Rate Announcement, as Bitcoin Fights for $11K

By Omkar Godbole

While bitcoin’s dips have found buyers, the cryptocurrency is struggling to clear the important psychological hurdle of $11,000 ahead of the U.S. Federal Reserve’s rate decision due later Wednesday.

  • The cryptocurrency found bids near $10,675 during the early Asian trading hours, but faced rejection near $10,940 around 08:00 UTC, according to CoinDesk’s Bitcoin Price Index.
  • Bitcoin has failed twice in the past 24 hours to absorb selling pressure just below $11,000.
  • At press time, bitcoin is changing hands near $10,850, representing a 0.58% gain on the day.

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A Radical New Crypto Just Blew Past The Bitcoin Price All-Time High—Up A Shocking 3,500% In Just One Month

By Billy Bambrough

Bitcoin and cryptocurrency markets have been dominated by decentralized finance, often shortened to DiFi, over recent months.

The bitcoin price, up around 40% since the beginning of 2020, has been left in the dust by the gains made some DeFi project tokens—including yearn.finance (YFI) that’s up a staggering 3,500% in just a little over a month and has surged past bitcoin’s late-2017 $20,000 all-time high.

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Move Over Tesla, Bitcoin Is Having A Moment

By Billy Bambrough

Bitcoin has leaped higher this week, climbing to year-to-date highs and reaching levels not seen since June last year.

The bitcoin price jumped almost 4% on Monday to hit highs of $12,470 per bitcoin on the Luxembourg-based Bitstamp exchange before falling back slightly.

The latest bitcoin rally, adding to gains of around 30% over the last month, came after high-profile day trader Dave Portnoy called for a bitcoin “pump” and data showed that, after Tesla stock, bitcoin was the most viewed asset in the U.S. last month.

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One Of The Biggest Ever Bets On Bitcoin, Worth A Massive $250 Million, Is Already Paying Off

By Billy Bambrough

Bitcoin, after a long period in the wilderness, has begun to find its place both on Wall Street and with non-financial companies.

The bitcoin price, up 6% on this time last year, has recently surged after trading sideways since early May—topping $11,000 per bitcoin for the first time since last September as nervous investors brace for a bout of inflation due to huge government spending and cash creation designed to offset the economic damage wrought by the coronavirus pandemic.

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