Companies Investing in Bitcoin Are Profitable

Since MicroStrategy invested in Bitcoin this summer, it is currently valued at $ 650 million and has generated 50% returns in the past 3 months. Square, which invested $ 50 million in Bitcoin in October, saw Bitcoin's value rise to $ 80 million. Bitcoin broke $ 17,000 for the first time since January 2018.

Positive Trend Continues in Bitcoin

Bitcoin Hash rate (network density) increased by 12%. It is seen that network users are seriously concentrating on the Bitcoin network and increasing the Hash rate. Bitcoin has also seen a 9% increase in the number of new addresses. There is a 14% increase in the number of active addresses, that is, the number of new accounts. We can explain this situation as a transfer from cold wallets to stock exchange wallets.

Attacking DeFi Projects

The Ethereum-based Origin Dollar has been hacked. Origin Protocol announced that its stablecoin, the Origin Dollar (OUSD), was hacked, lost $ 7 million and the coin retracted 85%. Origin Protocol launched OUSD in September this year.

Grayscale Announces the Amount of Bitcoin in its Administration

Grayscale, the digital asset management company founded by Digital Currency Group in 2013, announced the number of BTC under its management with its Bitcoin Trust product. The company shared with the public that there is exactly 500 thousand BTC in the Bitcoin investment product.


BITCOIN [BTC] 449644.88 TRY

Bitcoin Analysis - Bitcoin price climbed to $ 18,500, the highest level in the last 3 years, and came close to its record level of $ 20,000. However, according to our social media analysis, 50 thousand different people tweeted BTC yesterday. Although there is a general sales pressure in the markets after the increase in COVID cases, Pfizer begins vaccine trials. The market's desire to correct against vaccine news may be shorter. When we consider the price of Bitcoin quantitatively, the MVRZ score reached 3.0, reaching the highest level in the last two years. Thus, while it is seen that there is no excessive premiums as a result of the appreciation in prices, we can talk about the possibility of foaming in the price with the purchase of corporations.

When we consider BTC / USD technically; The bullish channel was broken on the upside and tested the levels of 18,500, surpassing the January 2018 record level of $ 17,200, showing that their resistance could be broken. Considering the possibility of stabilizing the rises after this rally in BTC, which goes uncorrected in prices, we follow the withdrawals that may occur from the support levels below. The outlook is positive and bullish.

SUPPORTS 16,650 / 15,675 / 14,750
RESISTANCES 18,540 / 19,465 / 20,440

BITCOIN [BTC] 449644.88 TRY +7.00 +0.03 VOL 21 BTC



Ethereum Analysis- Ethereum accelerated its momentum by approaching the $ 500 level at midnight with the activity that started yesterday evening. With the end of the farming for UNI tokens of the decentralized exchange Uniswap, 250 thousand ETH ($ 1.45ml) were released. For the ETH 2.0 update, 20% of the ETH amount to be staked (which must be locked to the system) has been reached.

Although it is a very difficult possibility for the update to reach December 1, we can say that the sooner it is postponed, the more the trend will not break from the rise. ETH contract volumes climbed to an 8-month high. We can see from the Glass node data that this volume is caused by the ETHs that move within 1 day and 1 week. Therefore, we see the rotation in the crypto market shifting to Bitcoin and Ethereum.

Technically, we can say that the flag in the 4-hour period and the double bottom formation continues in the weekly period, and both formations are the continuation of the rise. As of the beginning of November, the bullish channel is in the range of $ 445-490. Intraday corrections touched the $ 450-455 band. It is useful to follow the uptrend reactions in retreats. The uptrend continues, the outlook is strong.

SUPPORTS 455 / 440 / 420
RESISTANCES 490 / 510 / 525

ETHEREUM [ETH] 30772.88 TRY +7.00 +0.03 VOL 21 ETH


SUPPORTS 3,485 / 3,325 / 3,485
RESISTANCES 3,865 / 4,095 / 4,250

AVALANCHE [AVAX] 392.33 TRY +7.00 +0.03 VOL 21 AVAX


SUPPORTS 0,2780 / 0,2650 / 0,2500
RESISTANCES 0,3060 / 0,3220 / 0,3330

RIPPLE [XRP] 7.87 TRY +7.00 +0.03 VOL 21 XRP


SUPPORTS 68,05 / 64,10 / 59,65
RESISTANCES 76,45 / 80,90 / 84,85

LITECOIN [LTC] 1815.52 TRY +7.00 +0.03 VOL 21 LTC

SUPPORTS 12,50 / 11,70 / 10,85
RESISTANCES 14,20 / 15,05 / 15,85


SUPPORTS 0,1870 / 0,1785 / 0,1680
RESISTANCES 0,2060 / 0,2170 / 0,2250


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