Biggest Red Candle in Bitcoin History

Biggest Red Candle in Bitcoin History Sheds $100 Billion From Market Cap

Bitcoin started the day above $54,000 and is now trading at around $48,000.

On Monday, Bitcoin registered what was then the sharpest gross drop in its history in terms of dollar amounts. In a matter of hours, the price of Bitcoin went from just over $57,500 to bottoming at $46,700. But a bullish effort from traders saw its Bitcoin Bank price rebound, and the candle closed at $54,142.

And just when Bitcoin investors were starting to talk about a market recovery, the real flash crash happened.

Yesterday, crypto analysts were admiring (if you can call it that) Bitcoin’s daily red candle wick—that is, the minimum point reached before reversing the trend during the day. But today, the market is faced with the largest red-bodied candle in Bitcoin’s history. Starting the day at $54,100, BTC only managed to reach $54,200 for a few minutes before plummeting to its current price of just above $48,000.

The dip cut Bitcoin’s market cap down by nearly $100 billion, from above a historic $1 trillion to now just above $900 billion

Its daily minimum came in at $44,880, just off a slight support zone marked by a correction after the price spike following Tesla’s announcements in early February 2020. At the time, Elon Musk’s electric car company revealed a new corporate strategy to the SEC, buying $1.5 billion worth of BTC, and announcing that it was working on accepting Bitcoin payments.

Bitcoin has been in price discovery mode since it first broke the $20,000 price zone—the previous all-time high registered in 2017. Price discovery happens when an asset breaks its all-time high and then maintains a bullish trend. It is called “price discovery” because traders have no previous experience buying and selling above that specific price.

And despite the drop over the last two days, Bitcoin has been on an epic bull run, exceeding the expectations of even the most experienced analysts. Some were even expecting a short-term sell off. Real Vision founder Raoul Pal, for example, shared his relief follow yesterday’s market correction:

It it just me that feels relief when the BTC sell offs come? You know they are coming but when they finally arrive you can switch into buy the dip mode. March is a historically weak month. Not sure if this is the bigger March correction of just another cheeky shakeout . pic.twitter.com/GMH7evctX5

— Raoul Pal (@RaoulGMI) February 22, 2021

Still, some market observers may be surprised to see that even Square’s bullish news—that it has invested another $170 million of corporate funds in Bitcoin—hasn’t been enough (yet) to reignite the rally.

What it means for BTC to hit $1 trillion market cap

What it means for BTC to have cracked $1 trillion in market cap

The Bitcoin price hit $55,000 per coin a few hours ago – and with a circulating supply of more than 18.6 million BTC, that brings the total market cap of the first cryptocurrency to $1 trillion. But what does this incredible milestone mean for the leading cryptocurrency?

From $100 billion to $1 trillion – in one year

It was only a few months ago when Bitcoin’s market capitalisation matched that of VISA and Mastercard and other major banks. Weeks ago, it Bitcoin Rush surpassed the market capitalisation of Tesla, shortly after the company announced that it had also bought BTC to boost its corporate reserves.

Now BTC has hit another major milestone, surpassing a total market capitalisation of over USD 1 trillion.

Bitcoin the asset and the network are valued in their entirety at a trillion dollars. The achievement is nothing short of astonishing. Everyone who saw this outcome coming is now rewarded with a piece of this massive pie.

What is even more impressive is that the total value of Bitcoin has risen from just $100 billion on Black Thursday almost a year ago to ten times that value. And this is while most other assets have struggled to grow steadily.

The stock market has stagnated recently and gold is in a downtrend as capital flows instead into Bitcoin (To buy Bitcoin cheap platform comparison). Now that Bitcoin has reached a market cap of $1 trillion, BTC will begin to demand a place in the portfolios of every investor worldwide. Here’s why.

What the $1 trillion market cap means for BTC

With a market cap of less than $100 billion, Bitcoin never had the liquidity to be noticed by companies or institutions. The market cap has always been considered „tiny“ compared to stocks and gold, but that is no longer the case at $1 trillion.

$1 trillion is essentially a key value – not necessarily for individual investors, but it could be the „all-clear“ sign for more companies to jump into the already scarce and trending cryptocurrency.

Most signs suggest that Bitcoin has not yet reached the point of „mania“, but after surpassing the $1 trillion market cap, FOMO could gain momentum as investors with higher net worths realise they could be stuck paying higher and higher prices to get in.

Den kinesiske by Shenzhen afgiver digital

Den kinesiske by Shenzhen afgiver digital yuan for tredje gang

I Shenzhen, Kina, udloddes 20 millioner digitale yuan indtil 4. januar. Dette er den tredje lodtrækning af sin art inden for den igangværende virkelige test af den digitale valuta. I alt tre millioner amerikanske dollars i digital yuan udloddes.

Lige i tide til det nye år, den 1. januar 2021, offentliggjorde byen Shenzhen lodtrækningen. Tombolagen til i alt 100.000 „røde konvolutter“ til en værdi af 20 US $ hver blev annonceret i et brev. Tombolaen skal finde sted på den kinesiske platform „i Shenzen“. De heldige vindere kan Bitcoin Bank downloade deres digitale yuan via „DIGITAL RMB APP“.

Den digitale yuan i form af den såkaldte „Futian Youli Digital RMB Red Packet“ kan indløses i mere end 10.000 butikker, restauranter og supermarkeder i regionen fra 7. januar til 17. januar. Dette tredje lotteri inkluderer dog ikke nogle funktioner, såsom online betaling og offline touch-to-pay.
Skærm

Crypto Arbitrage: Lav risiko – højt afkast

Tjen passiv indkomst med ArbiSmarts rentebærende tegnebog og fuldautomatiske Crypto Arbitrage-handelssystem. Drag fordel af en EU-licenseret og reguleret platform, der tilbyder investeringer med et afkast mellem 10,8% og 45% om året

Under det første lotteri i oktober 2020 kunne vinderne kun indløse de digitale valutaer i 3.000 butikker. Dette viser, hvor hurtigt vedtagelsen af ​​den digitale yuan ser ud til at vokse. I den første lodtrækning havde 50.000 mennesker chancen for at vinde. I december, i anden lodtrækning, blev chancerne for at vinde fordoblet. Nu – ligesom i den nuværende lodtrækning – kunne 100.000 mennesker se frem til en mulig præmie.

Vil flere CBDC lotterier følge?

For omkring en uge siden afgav Suzhou-regeringen sin mening om testresultaterne i december andet lotteri. Ifølge dette ville 96.614 mennesker have brugt deres overskud, hvilket kan bogføres som en succes for regeringen.

Det vil være interessant at se, om yderligere tests af denne art vil finde sted i fremtiden. Det ser imidlertid ud til, at den kinesiske regering fortsat vil forsøge at integrere den digitale yuan så hurtigt som muligt.

BTC im Wert von 200 Mio. $ nach der Hälfte aus den Börsen entfernt

Die Bitcoin-Gemeinschaft entfernt am ersten Tag nach der Halbierung BTC im Wert von 200 Mio. $ aus den Börsen.

Viele Bitcoins wurden entfernt

Nach der dritten Blockhalbierung von Bitcoin am 11. Mai entfernten die Benutzer 23.540 Bitcoins (BTC) aus den Online-Tauschbörsen. Dies scheint auf ein erhöhtes Maß an Vertrauen in die Anlage hinzuweisen.

Außerdem setzt sich der jüngste Trend fort, dass Benutzer ihre Münzen in von ihnen kontrollierte Brieftaschen und weg von den großen zentralisierten Börsen bringen. In den zwei Monaten seit dem Schwarzen Donnerstag ist die Zahl der BTCs in Tauschbörsen von 2.634.574 auf 2.332.524 gesunken.

Benutzerverhalten nach Halbierung

Man könnte die logische Annahme treffen, dass Benutzer, die Geld von Börsen abheben, ein optimistisches Zeichen sind.

Wenn ein Bitcoin Trader beabsichtigt, seine Bitcoin in naher Zukunft zu verkaufen, erscheint es kontraintuitiv, Vermögenswerte von einer Börse wegzuziehen. Stattdessen ist es möglich, dass Benutzer ihre Münzen zur sichereren, langfristigen Aufbewahrung in eine Brieftasche ohne Verwahrung verschieben.

Benutzerverhalten nach Schwarzem Donnerstag

Wir können sehen, dass am 12. März – dem Schwarzen Donnerstag – an den Börsen einer der größten Zuflüsse von Bitcoin zu verzeichnen war. Die Benutzer zahlten innerhalb von 24 Stunden fast 40.000 Münzen ein. Der Trend hat sich mit der Erholung des Preises umgekehrt, da die Benutzer ihre Guthaben in Scharen aus den Börsen abzogen.

Viele wichtige On-Chain-Kennzahlen weisen auf ein sehr gesundes Bitcoin-Netzwerk hin. Hodlers wetten möglicherweise darauf, dass Bitcoin aufgrund des permanenten Rückgangs der Münzproduktion an Wert gewinnt.