DAILY CRYPTOCURRENCY NEWS

Microstrategy CEO on Mainstream Bitcoin Adoption: 'I See Evidence of a Lot More Institutional Adoption'

Nasdaq-listed company MicroStrategy sees "evidence of far more institutional adoption" of Bitcoin. The firm cited several reasons, including "conditions and currency volatility" in Turkey, South America and Africa. “All of this has increased institutional awareness about Bitcoin.”

Data Shows Over $4.5 Billion Worth Ether Has Already Been Burned

Ethereum, the second largest cryptocurrency by market capitalization, has burned over $4.5 billion in ETH since the implementation of Ethereum Improvement Proposal (EIP) 1559 via the London hard fork on August 5. According to the data, 1.747 million Ether worth a total of $4.58 billion have been burned since August. An average of $800,000 worth of 307 ETH per hour and $32 million worth of Ether per day were burned.

Bitcoin (BTC) Is Part of the Path to “Financial Heaven”, Says ‘Rich Dad’ Author Robert Kiyosaki

Robert Kiyosaki, the highly successful author of the "Rich Dad Poor Dad" series of personal finance books, has suggested that the flagship cryptocurrency Bitcoin is part of the path to "financial heaven" along with the precious metals gold and silver.

MicroStrategy CEO: "Meta Must Adopt Bitcoin"

Meta recently announced that they are moving away from the cryptocurrency space. In a recent interview, Saylor responded to this decision, saying, "It was not their problem to enter the crypto space(…), they could present an attractive proposition to billions of people if they were to adopt Bitcoin and incorporate it into their product. I think it would be worth hundreds of billions, if not trillions, of dollars for the commodity.”

Russia Advances On Efforts To Regulate Bitcoin

Efforts to welcome Bitcoin in Russia with clear regulation keep growing with the Ministry of Finance and the Chamber of Commerce and Industry being the latest two entities voicing their suggestions despite the central bank’s continued hard line.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 349972.10 TRY

Bitcoin lost a 0,10% value during morning hours and is priced around $37.302. When we consider the BTC/USDT pair technically, BTC continues price action below the downtrend on November 10. Retesting this trend below for the past 2 days, BTC failed to break the major trend and experienced a sharp decline yesterday. The trend works as a resistance zone on the chart, even if a retest of the downtrend occurred in the RSI, along with decline. The current outlook in BTC is that the drop may continue for a while.

RESISTANCES 37.707 / 38.103 / 38.812
SUPPORTS 36.602 / 35.893 / 35.497

BITCOIN [BTC] 349972.10 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24232.55 TRY

Ethereum lost a 0,40% value during morning hours and is priced around $2684. When we consider the ETH/USDT pair technically, ETH surged to the resistance level of $2800-2985 after finding support at $2324 and demand. When we look at the daily candle close in ETH, which faced resistance from this zone recently, it is seen that there is a bearish engulfing candle formation. However, as of yesterday's daily close, the rises can be seen again in the downtrend for ETH, which has a doji candlestick. If it is holds onto $2750, a rise towards $2,985 might follow.

RESISTANCES 2741 / 2782 / 2862
SUPPORTS 2499 / 2540 / 2620

ETHEREUM [ETH] 24232.55 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 316.96 TRY

AVAX lost a 0,50% value during morning hours and is priced around $67,96. When we consider the AVAX/USDT pair technically, AVAX, which has risen to $76 after sharp falls, broke the formation on the 4-hour chart. For AVAX, whose horizontal price movement continues just below the uptrend with the breakout, selling pressure may continue as long as the downward trends in the majors are also broken upwards.

RESISTANCES 69,94 / 71,50 / 74,05
SUPPORTS 61,72 / 63,28 / 65,83

AVALANCHE [AVAX] 316.96 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.15 TRY

Ripple lost a 0,25% value during morning hours and is priced around $0,6089. When we consider the XRP/USDT pair technically, XRP has not a new outlook but a sideways trend. As of November 10, the price movement continues between $0.5182-0.7121 in XRP, which has been experiencing price movement below the current downward trend. The price action in the 4-hour chart hasn't shown a breakout of the sideways trend yet. An upward break of this zone to $0.7121, and a downward break to $0.5185 might trigger price action.

RESISTANCES 0,6179 / 0,6259 / 0,6403
SUPPORTS 0,5731 / 0,5811 / 0,5955

RIPPLE [XRP] 8.15 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 962.02 TRY

LTC lost a 0,60% value during morning hours, and is priced around $109,2. When we consider the LTC/USDT pair technically, LTC had a sideways trend between $113,1 and $104,9. Yesterday, it broke the $113.1 level, but again went in horizontal line along with sales. Also, we see there is a bearish engulfing candle as of daily close. For LTC, which continues its sideways trend, a breakout will determine the short-term price direction.

RESISTANCES 111,83 / 114,10 / 117,52
SUPPORTS 100,45 / 102,72 / 106,14

LITECOIN [LTC] 962.02 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 1,35% value during morning hours and is priced around $16,05. When we consider the LINK/USDT pair technically, LINK continues price action inside the ascending channel as of July 2020 in the weekly chart. However, when we look at the short-term outlook in the 4-hour chart, there has been sharp selling in LINK, which has a short-term descending triangle formation above the $16.80 level, with the downward breakout of this triangle. There appears to be a recovery in LINK, which has reached the formation target. In case the bearish movement continues, the blue-marked demand zone should be followed.

RESISTANCES 16,52 / 17,00 / 17,69
SUPPORTS 14,18 / 14,66 / 15,35

BASIC ATTENTION TOKEN [BAT] 5.45 TRY

BAT lost a 0,60% value during morning hours, and is priced around $0,8242. When we consider the BAT/USDT pair technically, the outlook stays same. BAT, which has tested 5 times before and has broken the strong uptrend that has existed since June 2021 recently, retested it yesterday. After facing resistance, BAT suffered a sales pressure. If BAT fails to break above the $0.8757 level, which coincides with the uptrend and is an important horizontal resistance level, a pullback towards the blue-marked support zone can follow.

RESISTANCES 0,8394 / 0,8524 / 0,8765
SUPPORTS 0,7652 / 0,7782 / 0,8023

BASIC ATTENTION TOKEN [BAT] 5.45 TRY +7.00 +0.03 VOL 21 BAT

We always love and support sports!

We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.