Pi Network - auto mobile mining: Join now and be one of the pioneers!!


It’s Halloween today. It’s also the day when anonymous cypherpunk, Satoshi Nakamoto presented the idea of Bitcoin to the world, 11 years ago. The whitepaper released since then has become a model for censorship-resistant finance. Probably, that’s the reason why strong-headed BTC bulls don’t want the digital asset’s price to ‘dip’. Not at least today.

Aggressive Bears Meet Big Bad Bulls

As reported by Bitcoinist, a few hours ago, in the given market conditions bitcoin is hogging a little more than 30% of the daily crypto trading volume. Since President Xi’s blockchain-friendly comments 6 days ago, BTC bulls seemed to have come out with renewed confidence to push the market north. This is pretty much evident from the uber sporadic nearly 40% price jump in which bitcoin rallied from $7200 to $10,500.

BTC/USD Daily TradingView Chart

BTC/USD Daily TradingView Chart

Noted crypto trader Josh Rager succinctly expressed this concrete bullish behavior in one of his latest tweets today, just when bitcoin suddenly printed a green candle on the charts.

“Aggressive selling being held up by the heavier hand was showing the bigger player didn’t want price to drop from $9000 At least short term Nice bounce from $BTC to tap $9400,” he said. 

Since the epic pump following the Chinese head of state’s speech, bitcoin price has had its share of selloffs as bears reared their head again to suppress the rally. But bulls have been fighting hard to keep the show going on.

It’s been 11 years since the bitcoin whitepaper was made public. Since the mining of the genesis block, on January 3, 2019, the BTC network has been performing faultlessly. This coupled with the increasing institutional demand and product offerings is driving bulls to be all the more ‘bullish’.

Bitcoin Has Rallied Post Whitepaper Anniversary 6 Out of 10 Years

As per a tabular dataset, posted by self-professed full-time bitcoin trader, ‘BitDealer‘, BTC has posted gains the very next day after whitepaper anniversary in 6 years out of the last 10 years. The years 2015, 2016, 2017 are especially noteworthy, as bitcoin rallied more than 4% on November 1st in all these years.

Looking at the current price action, it seems this year too bitcoin will paint the charts green at least tomorrow (November 1).

U.S. Stocks Dip On the Back of an Uncertain Trade Deal

As per WSJ reports, the S&P 500 had a bad day today. Skepticism pertaining to the ongoing US-China trade settlement discussions and a slump in the latest manufacturing data seems to have caused stock markets to take a dip. It seems China is grossly unsure about reaching a long-term win-win trade deal with the US. According to numbers captured by the media outlet:

The broad stock-market index declined 0.7% after setting a new high Wednesday, while the Dow Jones Industrial Average fell 246 points, or 0.9%, to 26941. The Nasdaq Composite also fell, sliding 0.5%

This, in turn, must have forced retail players (not necessarily big fat bulls) to seek refuge in the bitcoin market for some quick gains. Whatever, maybe the reason, it’s bitcoin whitepaper day and BTC is looking pretty happy!

How far up (or down) do you think will bitcoin price go this year? Share your thoughts in the comments below. 

Images via Bitcoinist Media Library, BTC/USD charts via TradingView, Twitter: @Josh_Rager, @Bitdealer_

No Comments

Be the first to start a conversation

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Pi Network - auto mobile mining

Become one of the pioneers!!

Random Posts


"Your Headline Here How I Made $4947 In 1 Month"

Lorem pretium lorem orci elit nunc imperdiet nec vel sit pretium hendrerit amet nec orci gravida gravida sapien purus massa

Quick Bio About Me

mypicmeLorem proin accumsan accumsan volutpat ut nullam odio eleifend libero quisque ipsum gravida eleifend dolor nunc sagittis venenatis orci eleifend lorem quisque venenatis non sagittis sagittis ipsum nunc.

lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris ornare congue lacinia auctor lorem quis quis lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris


  • Resource 1

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

  • Resource 2

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

Random Blog Posts

© 2022 Cryptoracle.info - Crypto News