Binance announces $10 million in support

Binance announces $10 million in support for the COVER hack

Binance announced on December 30 a distribution of more than $10 million to users of the platform affected by the COVER hacking.

  • On December 28th, a hacker launched a token emission operation that created 40 quadrillion COVER tokens.
  • The hacker returned more than $3 million to Cover Protocol, but some Binance customers remain affected.

Binance will pay more than $10 million to clients who lost money when the hacker hacked the COVER Protocol contract on December 28.

Binance has published a news item on its site concerning the plan to resolve the COVER incident. The token was the victim of a contractual attack on December 28th. A mining rift allowed the hacker to create 40 quadrillion (yes, quadrillion) COVER tokens.

On 30 December, Cover Protocol Bitcoin Trader announced that it would implement a compensation plan. The company wrote that it would take a snapshot of the last block before the hack. Any compensation would be based on the state of affairs at that block. Liquidity providers at that time on Uniswap, SushiSwap and Balancer would be covered. The same applies to holders of YETI and YPIE tokens and all non-migrated SAFE and SAFE2 tokens.

Cover will hit new tokens. The company writes that it is working with centralized exchanges to send the new tokens to their wallets. Cover also notes that Binance will use the same block, 11541218, for its own snapshot of COVER ownership.

Binance to the rescue

On December 31, Binance announced on its website its own plan to clean up the COVER mess. Binance stated that exchange users who purchased COVER after the hacking suffered losses that were too great for Cover Protocol to handle alone. As a result, Binance also decided to pay over $10 million to compensate customers.

The exchange also announced that in the future, Cover Protocol’s new token would use the COVER-new ticker. The disbursement of the new token will be followed by an announcement of this fact. After that, users will no longer be able to withdraw the old COVER tokens.

Retrospective 2020

Piracy and cracking are an integral part of the world of cryptography, just as counterfeiting and bank robbery are features of the fiduciary system. The world of crypto has seen its share of embezzlement in 2020, but not all attempts have been successful.

For example, hackers attacked the TRON network at the beginning of November. The network was upgraded that day, and developers noticed the attempt to make malicious transactions. Not only were they able to prevent the transactions from taking place, but they soon brought the system back online, minimising disruption while keeping the blockchain intact.

Bitcoin und Altcoins signalisieren Comeback, XRP erholt sich

  • Der Bitcoin-Preis blieb gut über 22.800 USD und kletterte über 23.500 USD.
  • Ethereum wird jetzt über USD 600 gehandelt, XRP korrigierte höher mehr als 25%.
  • XLM und CEL sind über 15% gestiegen.

In den letzten beiden Sitzungen verzeichnete Bitcoin eine Aufwärtsbewegung über die Marke von 23.000 USD. BTC kletterte über die Widerstandsniveaus von USD 23.200 und USD 23.500. Derzeit (05:00 UTC) zeigt er positive Anzeichen, aber es gibt noch viele wichtige Hürden auf der Oberseite in der Nähe von USD 23.880 und USD 24.000.

In ähnlicher Weise haben die meisten wichtigen Altcoins eine Erholungswelle gestartet, darunter Ethereum, XRP, EOS, XLM, LINK, BNB, XRP, TRX, Bitcoin Cash, Litecoin und ADA. ETH/USD liegt jetzt wieder über den Niveaus von 600 USD und 605 USD. XRP/USD ist um über 25% gestiegen und hat sogar den Widerstand von 0,350 USD überschritten.

Bitcoin-Preis

Nach einer weiteren Abwärtskorrektur fand der Bitcoin-Preis Unterstützung und blieb stabil über der Marke von USD 22.700. BTC startete eine neue Aufwärtsbewegung und durchbrach die Widerstandsmarken von USD 23.200 und USD 23.500. Der Preis handelt nun in der positiven Zone, mit einer ersten Hürde in der Nähe des Niveaus von USD 23.880. Der Hauptwiderstand auf der Aufwärtsseite liegt immer noch bei der Marke von 24.000 USD.

Auf der Abwärtsseite befindet sich die erste wichtige Unterstützung bei der Marke von 23.200 USD. Die nächste wichtige Unterstützung liegt in der Nähe des Niveaus von 23.000 USD, unterhalb dessen der Preis wieder in die Region von 22.700 USD zurückkehren könnte.

Ethereum-Preis

Der Ethereum-Preis begann einen stetigen Anstieg von der 550-USD-Unterstützung. ETH durchbrach die Widerstandsniveaus von 595 USD und 600 USD, um sich wieder in eine positive Zone zu bewegen. Der Preis handelt jetzt in der Nähe von 610 USD und könnte bald einen Test des wichtigen Widerstandsniveaus von 620 USD versuchen.

Eine erste Unterstützung auf der Abwärtsseite liegt in der Nähe der 600 USD-Marke. Die erste wichtige Unterstützung liegt in der Nähe der 595 USD-Marke, unter der die Bullen 588 USD schützen könnten.

Bitcoin cash, litecoin und XRP Preis

Der Bitcoin-Cash-Preis ist um über 6 % gestiegen und hat das Widerstandsniveau von 290 USD durchbrochen. BCH wird jetzt knapp über USD 295 gehandelt und steht einem starken Widerstand bei USD 300 gegenüber. Ein Abschluss über den Niveaus von USD 300 und USD 302 könnte vielleicht die Türen für einen größeren Anstieg in den kommenden Sitzungen öffnen.

Litecoin (LTC) ist um über 5% gestiegen und nähert sich dem Widerstandsniveau von USD 110,00 und USD 112,00. Wenn LTC den Wert von 112,50 USD übersteigt, könnte er weiter in Richtung der Widerstandsniveaus von 120,00 USD und 125,00 USD steigen. Sollte es zu einer Abwärtskorrektur kommen, könnten die Niveaus von 102,00 USD und 100,00 USD Unterstützung bieten.

Der XRP-Preis erholte sich um über 25 % und kletterte über die Widerstandsniveaus von USD 0,288 und USD 0,300. Der Preis stieg sogar über 0,320 USD und kletterte auf über 0,350 USD. Der Preis konsolidiert sich nun oberhalb der Region von 0,300 USD und könnte sich vor der nächsten größeren Bewegung weiterhin in einer Spanne bewegen.

Andere altcoins Markt heute

In den letzten Stunden haben viele Altcoins über 10% zugelegt, darunter XLM, ENJ, THETA, ATOM, SC, CHSB, ZRX, NEO, ADA, CEL, MIOTA, LRC, NEXO, OMG, ONT, QTUM und EOS. Von diesen ist XLM über den Widerstand von 0,155 USD gestiegen.

Insgesamt befindet sich der Bitcoin-Preis wieder in einer positiven Zone oberhalb von 23.500 USD. Auf der Oberseite stehen die Bullen vor einer schwierigen Aufgabe in der Nähe der Niveaus von 23.880 USD und 24.000 USD, oberhalb derer sich BTC deutlich erholen könnte.

Sällsynt chans att lagra BTC till 50% rabatt på marknadspris under ProBit Exclusive Pikes Betydande intresse som BTC Eyes $ 20 000

Topp 25 globala kryptovalutaplattform ProBit Exchange har meddelat nästa av sina prenumerationsbaserade ProBit Exclusive-erbjudanden med 50% rabatt på BTC den 23 december.

Medan prenumerationerna har presenterat några av de bästa tokens på marknaden, kommer den senaste upplagan att visa upp nuvarande crème de la crème i kryptovalutasektorn eftersom BTC fortsätter att få betydande institutionellt stöd.

En av de mest ivriga BTC-supportrarna i Microstrategy erbjöd nyligen 550 miljoner dollar i konvertibla obligationer för att frigöra ytterligare kapital för att förlänga deras nuvarande BTC-innehav på 40 824 BTC.

Medan guld traditionellt representerar referensvärde, har BTC fastställt sin toppmodell som den bäst presterande tillgången 2020 och betraktas ofta som digitalt guld

När spekulationer om ett genombrott i $ 20 000 territorium fortsätter är BTC Exclusive ett perfekt tillfälle att öka BTC-innehav och positioner. Evenemanget är också en utmärkt och tidsbestämd möjlighet för nyare handlare att samla den bästa kryptotillgången under det prenumerationsbaserade evenemanget med en maximal tilldelning av BTC på 50 000 USDT.

Tidigare ProBit Exclusives har utnyttjat betydande prishöjningar efter distribution eftersom flera tokens uppnådde en årlig avkastning på mer än 4000% för deltagarna.

PROB-token markerad med 288% YTD-ökning

ProBit Exchange: s ursprungliga token PROB har separerat sig från resten av paketet på väg till att publicera topp YTD-prestanda i december bland alla växlingstoken till 288%. PROB-tokens genererar också 4% belöningar per år för spelare och ger exponentiellt ökande handelsavgiftsrabatter och inträde till användarhändelser som den kommande BTC Exclusive.

Börsen driver en ProBit Cup-tävling där användare kan samla poäng för att köpa och placera toppbytestoken. Leaderboards uppdateras regelbundet och har en total prispott på 10 000 USDT för de 20 bästa poängen när evenemangsställningen är slutgiltig efter den 31 december 2020.

He who laughs last, laughs best – investment experts advise Bitcoin investors to stay long

Mark Yusko sees long-term Bitcoin HODLers clearly at an advantage over short-term speculators.

Intent and time horizon are the two key parameters that determine whether or not investors will succeed in their Bitcoin ( BTC ) investment .

At least that’s what crypto pioneer Mark Yusko thinks

Yusko, who is the executive director of asset management company Morgan Creek Capital Management, made this statement yesterday, Friday, in the context of the recent waves of negative headlines about the cryptocurrency. In several tweets , the investment expert says that the financial industry has good reason to defend itself against the disruptive power of Crypto Trader, which is why every means is right to prevent the adoption of the crypto currency.

Accordingly, it would be only natural for the financial industry to “create barriers to adoption and innovation,” says Yusko. And further:

„When the long-time residents are threatened, they try to influence governments to slow down the adoption of new technologies through strict regulation.“

However, this has repeatedly turned out to be a bad strategy throughout history

Speculators who are out for a quick profit and therefore only invest in Bitcoin for a short time can continue to influence the price of the crypto currency by reacting to negative headlines. They have had more than enough of that in the last few days, because while the Chinese government has confiscated US $ 4.2 billion in crypto assets , new regulations are looming in the US that could be very detrimental to the crypto industry.

Nonetheless, Yusko is convinced that investors with long-term intentions will ultimately be the ones who laugh last as the intrinsic value of Bitcoin continues to prevail. This is how the investment expert comes to a clear classification:

„Investors are long-term investors who focus on added value, whereas speculators are short-term investors who orientate themselves on the price.“

Bitcoin investors are notorious for their low time preference , which means they are hoping for long-term value instead of making the quick buck. The „long-term added value“ includes not only a considerable increase in value, but rather a fundamental change in the monetary system.

This affinity of Bitcoin investors for holding is reflected in the term „HODLer“. This is derived from the English verb „to hold“, whereby the wrong spelling of the word is intentional. The sharp decline after the strong climb in recent weeks has apparently only strengthened the Bitcoin HODLers in their conviction, because new data show that 61% of the amount of Bitcoin in circulation has not been moved for more than a year, although the chance of profit is currently is as high as rarely.

In the past week, Bitcoin climbed to a new annual high of over 19,200 US dollars. As a result, market capitalization rose to a new record high of $ 352 billion. After crashing violently on Thursday, the price was able to pull back to $ 17,700 at the time of going to press.

Ethereum, XRP og andre Altcoins Bli med Bitcoin ved kontinuerlig prisøkning

Bitcoin krysset $ 18.000 da det peker mot en heltidshøyde på $ 20.000. Sist Bitcoin handlet 20 000 dollar var i desember 2017. Altcoins har begynt å følge BTC på vei til nye rekordnivåer.

Når Bitcoin går til sin heltidshøyde, er også ETH, XRP og andre altcoins stadig økende. 23. november dro ETH, XRP og flere andre digitale eiendeler inn økninger før handelen ble avsluttet.

ETH klatret en ny høyde siden juni 2018 til $ 600 i de tidlige timene med handel på dagen. Foreløpig er ETH opp 6,03% til $ 613,10 med et døgnåpent handelsvolum på $ 24 275 309 820. I tillegg har den andre rangerte digitale eiendelen en markedsverdi på over $ 70 milliarder dollar, ifølge CoinMarketCap.

Også den 23. hoppet Ripples XRP 29% og nådde sitt høyeste nivå på over to år. Siden den gang har Ripple-token trukket inn flere økninger. Ved pressetid øker XRP 50,19% til $ 0,69. Som bemerket av CoinMarketCap, har XRP lagt til 48,29% de siste 24 timene.

Andre Altcoins Bli med på Bitcoin på prisrally
Nylig krysset Bitcoin $ 18.000 da det peker mot en heltidshøyde på $ 20.000. Sist Bitcoin handlet 20 000 dollar, var i desember 2017 før de gikk ned til rundt 3 000 dollar året etter. Nå er imidlertid analytikere sikre på at BTC vil slå sitt nye høydepunkt innen utgangen av 2020. Analytikerne sa også at BTC er klar til å øke veksten i 2021.

I en tale til CNBC sa det London-baserte kryptogruveselskapet Argo Blockchain CEO Peter Wall:

„Det du vanligvis ser i rommet er at bitcoin går på en løpetur og deretter en periode senere – kan være noen få uker, kan være en måned – altcoins kan deretter løpe. Bitcoin fører og altcoins følger. ”

CNBC bemerket videre at Chainlink også ble med på BTC og andre altcoins i rallyet. Ifølge rapporten vokste Chainlink med 6% til rundt $ 15 23. november. Altcoin har også steget 740% i sin årlige rekord. I skrivende stund handler Chainlink (LINK) til $ 16,16 med en økning på 9,13%.

Bullish Prediction on Bitcoin for 2021
Etter hvert som Bitcoins konstant økning påvirker andre altcoins økninger, er det flere bullish spådommer på kongemynten. Bitcoin-analytiker og skaperen av stein-til-strøm-modellen PlanB sa at Bitcoins “virkelige hopp” ville begynne innen 2021. PlanB avslørte sin mening i en tweet 22. november. Analytikeren uttrykte sin tillit til BTC for å slå “100k-288k” før desember 2021.

I tillegg bemerket PlanB at mange langsiktige investorer anskaffer Bitcoin. I en tweet sa han at kjøpere nå holder på eiendelene sine og „de fleste solgte BTC vil aldri se dagslyset igjen.“

Buttressing PlanBs idé, Pantera Capital sa i et nylig brev at PayPal og Square’s Cash App er årsakene til BTC-prisstigningen. Pantera Capital la til at de to selskapene kjøper og skaffer store mengder BTC, derav mangelen på den digitale eiendelen som fører til den konstante økningen av BTC.

Cryptos will be useful but Bitcoin is difficult to understand, says SoftBank CEO

Masayoshi Son says Bitcoin „distracted him from his activity“.

While the current bull run in the crypto-currency market fosters crypto adoption, some billionaire investors still see Bitcoin (BTC) as a kind of distraction.

Masayoshi Son, a billionaire technology entrepreneur and CEO of the Japanese conglomerate SoftBank, said he „doesn’t understand“ Bitcoin, which has recently surpassed its three year old highs.

During the New York Times DealBook conference, Son explained that his investment in Bitcoin was „distracting because of the focus on his business,“ as reported by Business Insider on November 19.

Son said he spent about five minutes every day watching Bitcoin prices fluctuate. Following a friend’s advice to invest „1% of his personal assets“ in Bitcoin, Son invested „about $200 million.

The billionaire admitted that the recurring distraction drove him to sell all his Bitcoins, causing a loss of about $50 million. „I feel much better,“ Son added.

Son said digital assets are a useful development and will not disappear in the future, but will focus on other projects:

„I think digital currency will be useful, but I don’t know which currency, which structure, and so on.
Son allegedly bought Bitcoin near its all-time high of $20,000 in December 2017. As mentioned earlier, it seems Son lost millions selling the cryptocurrency in early 2018 when Bitcoin’s price started to plummet.

The entrepreneur’s latest comments come during a strong bullish trend in the crypto markets, with Bitcoin increasingly close to $20,000. At the time of writing, Bitcoin is at $18,750.

Analyse du prix des bitcoins : La CTB teste le soutien critique, correction à 15 000 $ à l’arrivée?

Le prix de Bitcoin est maintenant de retour sur la zone clé S/R (barre verte supérieure) entre 15 900 et 15 860 $, car le faible volume des échanges du week-end freine la dynamique haussière.

Depuis qu’il a atteint un nouveau sommet de 16 475 $ le 13 novembre, le principal crypto a imprimé 4 sommets inférieurs consécutifs sur une période de 4 heures et suit maintenant un canal baissier (canal bleu).

Le marché mondial de la cryptographie a également rompu avec sa ligne ascendante (ligne noire), qui a maintenant basculé dans la résistance et est même proche de repasser le récent creux de 452 milliards de dollars (ligne bleue). L’impression d’un nouveau plus bas en dessous de cette ligne signalerait une nouvelle tendance baissière sur le marché de la cryptographie qui pourrait entraîner d’autres baisses au cours de la semaine à venir.

Niveaux de prix à surveiller à court terme

Sur le graphique BTC/USD en données de 4 heures, on peut voir que l’action sur les prix a poussé latéralement sur les dernières bougies entre la résistance de Fibonacci à 0,786 à 16 120$ et la zone S/R susmentionnée. En ce moment, la CTB est au repos le long de la ligne médiane (ligne blanche en pointillé) du canal alors que les taureaux tentent de maintenir les prix dans la moitié supérieure du canal.

Si le volume des échanges et l’investissement global entrant sur le marché de la cryptographie continuent à baisser, nous devrions nous attendre à voir Bitcoin chuter vers les supports inférieurs suivants:

  1.  15 700 $ – Lorsque le support inférieur du canal chevauche la zone de support majeure suivante (deuxième barre verte). Cette zone sera également probablement renforcée par la ligne bleue (50-EMA).
  2. 15 410 $ – Point de contrôle (barre bleue).
  3. 15 100 $ – Niveau de S/R clé.
  4. 14 900 $ – Troisième zone de soutien principal.

Si les volumes augmentent à mesure que les marchés traditionnels rouvrent pour la semaine, alors les cibles immédiates pour les traders haussiers seront le niveau de Fibonacci de 0,786 à 16 120 $, 16 380 $, le plus haut actuel à 16 475 $.

Une fois que Bitcoin aura pénétré sur un nouveau territoire, la prochaine série de résistances qui s’opposera probablement à la reprise sera de 16 660 $, le niveau psychologique de 17 000 $, et le sommet de janvier 2018 de 17 234 $.

  • Capital total du marché : 461 milliards de dollars
  • Capital du marché des bitcoins : 294 milliards de dollars
  • Dominance des bitcoins : 63,9%.

 

Bitcoin fait preuve d’une force nouvelle, dépassant les 13 000 dollars

Eh bien, bitcoin a une fois de plus impressionné les négociants et fait preuve d’un niveau de résistance que personne n’attendait. Après une chute soudaine dans la fourchette haute de 12 000 $, la devise est remontée au-dessus de 13 000 $, mais maintenant, l’actif a atteint un point encore plus élevé sur l’échelle financière. Au moment où nous écrivons ces lignes, le bitcoin – la première devise cryptographique au monde par la capitalisation boursière – se négocie à plus de 13 400 dollars, son plus haut niveau depuis début 2018.

La force du bitcoin gagne du terrain

Les dernières semaines ont été plutôt bonnes pour le bitcoin pour la plupart. L’actif – après avoir subi un mois de septembre extrêmement baissier – a dépassé la barre des 11 000 dollars au début du mois d’octobre et il est en forte hausse depuis lors. La monnaie a ensuite fait un bond dans la fourchette des 12 000 dollars et s’est maintenue pendant un certain temps.

Elle a fini par franchir la barre des 13 000 dollars après que PayPal ait annoncé que les utilisateurs pourraient éventuellement utiliser le bitcoin et d’autres formes de cryptographie pour acheter des biens et des services par le biais de sa plateforme financière.

Depuis, il est resté en grande partie ici. Malgré une légère baisse il y a environ 24 heures, la monnaie est de retour en pleine forme et a gagné environ 600 dollars en un seul jour. La monnaie semble avoir beaucoup mûri au cours de la seule semaine dernière.

De plus, alors que les analystes et les traders aiment parler de la baisse du mois dernier, l’actif n’est jamais tombé en dessous de 10 000 dollars, et la monnaie est restée dans un territoire à cinq chiffres tout au long de ces quatre semaines. Le retard de la monnaie a également pris fin lorsque le mois de septembre a atteint ses derniers moments, et le fait que la monnaie n’est restée dans le marasme que pendant le mois au lieu d’un quelconque point au-delà est la preuve que l’actif prend de l’épaisseur.

Ces derniers jours, la monnaie a également suscité une attention et un respect renouvelés de la part de JPMorgan et Mike Novogratz, qui ont tous deux eu des commentaires positifs à son sujet. Dans le cas de Novogratz, investisseur milliardaire et ancien gestionnaire de fonds de couverture, bien que le bitcoin ne soit pas susceptible de servir de monnaie légale avant cinq ans, l’actif acquiert la réputation d’être une réserve de richesse, ce qui le rend comparable à l’or.

Quelque chose qui peut protéger votre argent

Telle est l’attitude adoptée depuis que COVID a commencé à se frayer un chemin dans l’espace financier. Après avoir ravagé les marchés en mars, le bitcoin – après une chute de plus de 6 000 dollars – a commencé à remonter en flèche, et il semble que de plus en plus de gens le considèrent comme une protection potentielle contre l’inflation et d’autres formes de conflits économiques. Le bitcoin est désormais un outil conçu pour garantir que le portefeuille d’une personne est toujours suffisamment sûr et stable pour faire face aux aléas de l’économie.

JPMorgan a également comparé cet actif à de l’or dans une lettre, bien qu’elle ait été une société quelque peu sceptique dans le passé.

GazpromBank per offrire il trading e la custodia di Bitcoin in Svizzera

  • La FINMA autorizza la filiale russa per il commercio e la custodia di Bitcoin in Svizzera
  • Servizi che includono l’acquisto, la vendita, il trading Bitcoin e la custodia
  • Gazprombank per facilitare il trading tra le valute cripto e fiat

Le finanze svizzere testimoniano l’era dei cripto-criptatori, sanzionando le istituzioni che forniscono servizi basati sulla cripto-moneta in Svizzera.

La filiale russa Gazprombank, con sede in Svizzera, ha ottenuto l’approvazione degli enti finanziari svizzeri per la stessa. Gazprom è ora pronta ad offrire una varietà di servizi legati alla crittografia che includono il trading e la custodia di Bitcoin Era in Svizzera.

Annunciato il 29 ottobre, Gazprombank, con sede a Zurigo, ha confermato il ricevimento dell’approvazione da parte dell’Autorità federale di vigilanza sui mercati finanziari (FINMA) per facilitare il commercio di valuta digitale sul mercato finanziario svizzero. Gazprombank è uno dei primi 5 istituti finanziari russi e il terzo in Europa per numero di azioni.

Commercio e custodia di Bitcoin in Svizzera

Gazprombank è il fornitore leader di prodotti e servizi bancari convenzionali per clienti corporali e istituzionali. L’approvazione segna l’autorità crittografica della banca nella regione, e il portafoglio prodotti sarà testimone di caratteristiche potenziate per il trading e la custodia di Bitcoin. È probabile che la banca offra al commercio di fiat e altre valute crittografiche.

L’annuncio includeva dettagli sulla fase iniziale di implementazione, in cui i servizi menzionati saranno aperti ad una specifica base di clienti e ad una linea di prodotti aggiuntivi come soluzioni di archiviazione dati specifiche per le istituzioni e il trading di Bitcoin (BTC). I piani a lungo termine includono

l’imbarco in altre importanti valute crittografiche e prodotti correlati ai suoi servizi basati sulla crittografia

La banca ha sottolineato la crescente importanza delle attività digitali a livello globale e la sua base di clienti attuali e potenziali. La liquidità degli asset digitali è un’esigenza crescente per le attività a lungo termine, che la banca intende soddisfare con un ulteriore tocco di sicurezza svizzera di alto livello.

Diverse banche e governi stanno saltando sulla criptovaluta e il carro della banca centrale di valuta digitale nel panorama economico post-COVID-19 e questo sviluppo segna un’altra pietra miliare in questa direzione.

Bitcoin price attacks 15,000 dollars: growth in Chainlink (LINK) and Litecoin (LTC)

The Bitcoin course seems tireless. After the cryptocurrency BTC fell to $ 3,500 as part of the massive corrections in March of this year, Bitcoin is currently trading at $ 15,200 and is thus immediately above $ 15,000 for the first time in several years. However, other large-cap cryptocurrencies such as Binance Coin (BNB) and Chainlink (LINK) had to struggle with sales in the past 7 days. In the 24h view, however, in addition to Bitcoin, LINK and Litecoin (LTC) are the winners of the hour.

In this article we take a look at the current situation on the market and the development of the Bitcoin price.

Bitcoin price with strong momentum

I already mentioned it in the introduction: Since the annual low of around $ 3,500, the Bitcoin price has more than quadrupled its price in around 8 months. As of now, the cryptocurrency is trading at $ 145,200.

The following chart shows the development over the last 30 days and underlines the positive and bullish momentum, which underlies the largest cryptocurrency by market capitalization.

Bitcoin course development 30 days

It becomes clear that the current 2020 US elections have again brought volatility to the market. With a price jump of around 10% in the last 24 hours, the Bitcoin price rose by almost $ 1,300 – measured in absolute numbers.

In a Forbes interview, trader and analyst John Kramer commented on the current BTC price:

Bitcoin has recovered from the very short-term post-election drop and again topped $ 14,000. Even if we don’t yet know what will come after the election, many investors – depending on the election winner – expect a large stimulus package. This should further benefit Bitcoin and its limited supply.

Here, too, the narrative of Bitcoin as digital gold with a number limited to 21,000,000 BTC becomes clear. The numerous measures this year to stimulate the economy and the associated keyword „quantitative easing“ favor BTC.

The cryptocurrency is backed by many large companies that are now also investing in Bitcoin in order to invest part of their dollar reserves at a profit.

Bitcoin dominates large-cap cryptocurrencies

Even if other top ten cryptocurrencies are showing green numbers in the last 24 hours, we see a different perspective on the 7-day view.

While Bitcoin has seen double-digit growth in the last 7 days, we see almost exclusively red numbers for the other major cryptocurrencies.

Bitcoin course and top 10 cryptocurrencies

Bitcoin Cash (BCH), Chainlink (LINK) and Binance Coin (BNB) are particularly affected by the sale last week. The cryptocurrencies just mentioned recorded relatively high losses of 6.28, 4.45 and 7.89 percent. Despite the current good 24-hour performance, the crypto currencies mentioned are trading in the red in the 7-day trend.

At the same time, Bitcoin dominance is increasing again and underlines Bitcoin’s current leadership position. So the high Bitcoin price is the result of many factors.