DAILY CRYPTOCURRENCY NEWS

Big Interest in Bitcoin in Cuba

Interest in Bitcoin in Cuba There are no other major digital payment options such as PayPal in Cuba, where the frequency of Bitcoin searches on the major Google search engine is intense. Cuba's rise in searches for Bitcoin stands out, with reports that Cubans are turning to Bitcoin to circumvent US sanctions and gain access to digital financial services.

Australia to Use Ethereum for Digital Dollar (AUD) Project

The Reserve Bank of Australia announced its plan to explore digital currency usage. The project is scheduled to be completed by the end of 2020 and includes the use of an Ethereum-based platform. This project aims to explore the effects of a CBDC for efficiency, risk management, and innovation in wholesale market transactions.

Bitcoin Monthly Candle Closes Above $ 13,000 For The First Time In The Last 3 Years

The monthly Bitcoin price candle has surpassed $ 13,000 for the first time since 2017 when BTC hit an all-time high of about $ 20,000. On a monthly chart, each candle represents one month of trading activity. For this reason, a Bitcoin monthly daily chart usually covers many years of trading activity.

Bitcoin Hash Rate Dropped 10% In The Last Week
The 7-day moving average of Bitcoin's hash rate has dropped over 10% since last week. One of the main reasons behind the recent decline in computing power is the change of seasons in China, which hosts more than 70% of the miners on the network. With the end of the monsoon rains, there was a decline in energy production.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 358485.35 TRY

Even though the cryptocurrency market is having a seller day ahead of the US election results, BTC continues to hold above $ 13,000. However, although some prominent factors point to the risk of BTC's profit realization, PayPal's statement that it expects 2 or 3 times better impact than the crypto money deal, we can say that it is the lifeline news for the market. The hash rate, which we can define as the network density, decreased by 10%, reaching the lowest level in 4 months. The Bitcoin - SP500 correlation has weakened considerably and dropped to almost zero. Volume increase in BTC futures is also differentiated with spot volume, which may be due to selling contracts.

When we consider BTC / USD technically, the level of $ 13,900 where prices are stuck in the 24 June 2019 peak. At this point, the oscillators we use in horizontal price movements started to signal a downturn in the overbought zone. Therefore, the $ 12,700 regions and the $ 11,500 regions where the red uptrend passes stand out as major supports in possible profit realization

RESISTANCES 13,740/ 14,075/ 14,330
SUPPORTS 13,140/ 12,880/ 12,550

BITCOIN [BTC] 358485.35 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24550.33 TRY


Ethereum is trading around $ 375 this morning, with losses over 2%. With Bitcoin's market dominance reaching 66%, capital flight from Ethereum and DeFi may have occurred. The volume of ETH in the futures market has dropped to a 5-month low. In ETH, where technical movements are more prominent, the correlation between them and BTC is beginning to weaken. It may be useful to shorten the maturity of transactions against the risks and volatility arising from the US elections.

When we consider ETH / USD technically, it continues the downtrend function that has existed since September 1. Again under this trend, the secondary trend that has occurred since the end of September is broken down by the bullish channel selling pressure. Although this is not a positive outlook, closing above $ 360 per day can be effective in recovery and holding. The view is weak and horizontal

RESISTANCES 393/ 410/ 421
SUPPORTS 364/ 353/ 335

ETHEREUM [ETH] 24550.33 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 317.44 TRY

RESISTANCES 3,4420/ 3,4850/ 3,5200
SUPPORTS 3,3370/ 3,3350/ 3,2610

AVALANCHE [AVAX] 317.44 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.82 TRY

RESISTANCES 0,2390/ 0,2475/ 0,2530
SUPPORTS 0,2250/ 0,2200/ 0,2110

RIPPLE [XRP] 8.82 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 986.97 TRY

RESISTANCES 55,20/ 57,80/ 59,60
SUPPORTS 50,80/ 49,00/ 46,40

LITECOIN [LTC] 986.97 TRY +7.00 +0.03 VOL 21 LTC

RESISTANCES 11,35/ 12,30/ 12,95
SUPPORTS 9,70/ 9,05/ 8,10

BASIC ATTENTION TOKEN [BAT] 5.60 TRY

RESISTANCES 0,1830/ 0,1880/ 0,1910
SUPPORTS 0,1780/ 0,1740/ 0,1640

BASIC ATTENTION TOKEN [BAT] 5.60 TRY +7.00 +0.03 VOL 21 BAT

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