DAILY CRYPTOCURRENCY NEWS

Realized Losses Record Third Highest Yearly Value

Realized loss measures the value of all coins moved at a lower price than they were purchased. This way measures the total amount of losses sold at a loss. On December 4, there was a sharp drop in the BTC price, which fell to $ 60,000 from levels close to $ 42,000 a week ago. This led to realized losses, which increased to $ 1.233 billion, the third-highest yearly value to date.

Bloomberg's Mike McGlone Expects Bullish on Bitcoin and Ethereum in 2022

McGlone says that 2022 will be a good year for both Bitcoin and gold as they are stores of value that benefit from hedge positions. McGlone pointed to commodities peaking in 2022 as catalysts for reviving "deflationary forces" and the declining yield on the US Treasury long bond, which would trigger the rise for Bitcoin, Ethereum, and gold assets.

Market Sentiment Is On "Extreme Fear"

On December 6, 2021, the Bitcoin (BTC) "Fear and Greed" index touched the 16/100 level for the first time in nearly five months. The level had surged, but on Saturday it was fixed at an ultra-low level.

Bitcoin Could Explode by 1,000% From Here, According to ARK Invest’s Cathie Wood

Cathie Wood, founder and CEO of ARK Invest, says that Bitcoin (BTC) has the potential to rise on the path of a price movement of over half a billion dollars. Woods said in a CNBC interview that ARK Invest's institutional investors envision a scenario in which Bitcoin can increase its current value by $500,000. "We think that institutions switching to Bitcoin could add $500,000 to the price of Bitcoin."

90 of All 21 Million Bitcoin Have Been Mined

According to data from the Clark Moody Bitcoin Dashboard, more than 90% of the total amount of Bitcoin ever exists already been mined. A sudden and strong supply shock may become inevitable as the Bitcoin network progresses in awareness and use worldwide, fueling the growing demand for BTC.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 352717.16 TRY

Bitcoin lost a 2,24% value during morning hours; the current price is $48.998. Realized loss measures the value of all coins moved at a lower price than they were purchased. This way measures the total amount of losses sold at a loss. On December 4, there was a sharp drop in the BTC price, which fell to $ 60,000 from levels close to $ 42,000 a week ago. This led to realized losses, which increased to $ 1.233 billion, the third-highest yearly value to date. 

When we consider the BTC/USDT parity in technical terms, the intersection of DEMAs (7 and 14-day) in the daily chart in BTC, which continues to move below the existing downtrend as of November 10, gave a buy signal along with the rises experienced over the weekend. At the same time, it is about to cross the oversold zone of MACD. Although the outlook is relatively positive, important statements are expected from the FED meeting this week. It is worth waiting for clearer turn signals during this period, when the FED and many central banks are also meeting.

RESISTANCES 50.279 / 51.640 / 52.529
SUPPORTS 48.029 / 47.140 / 45.779

BITCOIN [BTC] 352717.16 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24558.74 TRY

Ethereum lost a 3,20% value during morning hours, and the current price is $4001. McGlone pointed to commodities peaking in 2022 as catalysts for reviving "deflationary forces" and the declining yield on the US Treasury long bond, which would trigger the rise for Bitcoin, Ethereum, and gold assets. When we look at the research conducted last week and the burning amounts in ETH, there may be a positive divergence for ETH, which has taken on a deflationary structure.

When we consider the ETH/USDT pair technically, ETH moves inside the downtrend that exists as of November 10. However, this weekend, it has rallied with the support at $3850 (lower line). This rise occurred up to the short-term downtrend, and the downward price movement continues again with the resistance it sees from here. Although no reversal signal has been received in the daily metrics, the long-term outlook is positive for ETH, which has completed its weekly close above the $4,000 level again. In the short term, there may be a retreat towards the lower line and the $3650-3700 levels if there occurs a daily close under the line.

RESISTANCES 4126 / 4253 / 4336
SUPPORTS 3706 / 3833 / 3916

ETHEREUM [ETH] 24558.74 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.49 TRY

AVAX gained a 0,70% value during morning hours, and the current price is $88,71. When we consider the AVAX/USDT pair technically, AVAX, which broke the ascending channel as of August recently, retreated to the zone marked with blue on Friday. The first significant resistance level on the AVAX, which rose over the weekend with the support it found from this zone, is the level of $93.24 (50MA).

RESISTANCES 90,11 / 93,50 / 97,09
SUPPORTS 76,15 / 79,54 / 83,13

AVALANCHE [AVAX] 319.49 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.28 TRY

Ripple lost a 1,65% value during morning hours, and the current price is $0,8257. When we consider the XRP/USDT pair technically, XRP, which has a sideways trend following the sharp fall, continues price action inside the downward trend as of September 7. In XRP, which found support from the lower line at the weekend, the price is stagnated between the channel lower line and the downtrend. This breakout will determine the trend. The buy signal from the DEMAs continues. If the downtrend breaks out, the midrange band is the next target level.

RESISTANCES 0,8539 / 0,8836 / 0,9065
SUPPORTS 0,7487 / 0,7784 / 0,8013

RIPPLE [XRP] 8.28 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 973.81 TRY

LTC lost a 2,90% value during morning hours; the current price is $154,5. When we consider the LTC/USDT pair technically, LTC has a sideways trend and continues price action below the $173 level (200MA). However, the volatility has decreased after the sharp fall. The LTC, which retreated to the support zone marked with blue on Saturday, rose slightly with the support from this zone. When we examine the metrics and price movement in the daily chart, we expect the downtrend to be tested again unless there is a daily close under the blue zone for LTC, which has not yet a reversal signal.

RESISTANCES 160,83 / 166,50 / 170,41
SUPPORTS 141,67 / 147,34 / 151,25

LITECOIN [LTC] 973.81 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 3,80% value during morning hours, and the current price is $19,68. When we consider the LINK/USDT pair technically, LINK, which continues price action inside the ascending channel as of July 2020 in the weekly chart, closed the week positively. There is no reversal signal for LINK in the daily chart; MACD reaches the bottom line of the oversold zone. For LINK, which is likely to experience a retreat towards the lower line again with the weekly candle opening, we expect those levels to be played a role as the dip level as long as the channel stays.

RESISTANCES 20,42 / 21,44 / 22,10
SUPPORTS 17,07 / 18,09 / 18,75

BASIC ATTENTION TOKEN [BAT] 5.51 TRY

BAT lost 4,80% value during morning hours, and the current price is $1,1403. When we consider the BAT/USDT pair technically, BAT has a sideways trend. Although the daily close on Friday was below the 50MA, it could break upwards again with the rise this weekend. If the $1.25 level breaks upward, it is expected to rise towards the $1.51 level.

RESISTANCES 1,1991 / 1,2743 / 1,3255
SUPPORTS 0,9463 / 1,0215 / 1,0727

BASIC ATTENTION TOKEN [BAT] 5.51 TRY +7.00 +0.03 VOL 21 BAT

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