Daily Crypto NewsEDITION #79, 17 November 2020

Bitcoin reaches new ATH's, CitiBank sees it as a new gold

Hey #Moni Maker ✋

Today, in 2006, Sony Playstation 3 went on sale in the USA. Now that we are already enjoying the fifth version of the legendary console, the games are firmly entrenched in the world arena. Not the last place in the development of the industry was played by crypto. It is only gonna spice up further development of gaming. Do not forget to pay attention to the relevant projects, but now it's time to check out the digest...

Bitcoin started the week again with strong growth and updated the previous local high of $16,500. Less than 20% remained on the way to the historical maximum.

Let us remind that the maximum Bitcoin price was $20,089.00. This indicator was reached on December 17, 2017.

And exactly three years ago, Bitcoin first rose above $8,000.

So what?

Google "Bitcoin Analysis November 17 Forecasts" and start to crack up reading the notes, predicting a "rapid going down" and other sh*t for Bitcoin.

So? It is not necessary to chase the horses, but when the bulls are running - staying away is stupid, to say the least. Maybe let's have a little run? :)

According to Glassnode analytics, bitcoin's realized price reached $6,903, exceeding the previous high recorded in August at about $6,000.

The realized price is calculated on the basis of realized capitalization, which is now $115 billion, which is 60 percent more than in 2017.

It reflects bitcoins' cost at the time of their last movement. This allows a better assessment of changes in bitcoins' value in circulation, excluding BTC held on inactive wallets.

By the way, Bitcoin's capitalization today is $310 billion.

So what?

Well, Happy New Year's Eve, and champagne will be shaken by BTC in human minds again, or this year we can avoid new shocks (even good ones)?

Top CitiBank manager, Tom Fitzpatrick, believes that Bitcoin now resembles the gold market in the 1970s. And according to the forecast, by December 2021, BTC may rise to $318K.

The value of gold began to grow actively after U.S. President Richard Nixon stopped the convertibility of the dollar into gold in 1971 and the Bretton Woods system.

In the next 50 years, gold rose considerably in price.

Even now, economic stimulus measures against the backdrop of the COVID-19 pandemic are creating conditions similar to those of the 1970s.

The analyst also cites a graph that suggests targets for Bitcoin above $300,000 by the end of 2021. The four-year bullish cycle after 2011 and the upward channel since 2013, in his opinion, draw a 102-fold increase from the 2018 low of $3,200.

So what?

Wow-wow-wow, take a break! Bro, you're wearing a bank badge, you go to the corporate canteen to have coffee with colleagues dressed in expensive suits because the boss said so, and you talk about BTC? Surprise, motherf***er…

Any prediction is a shot in the dark. But even if the banking sector is increasingly attracted to BTC, like iodine to a hematoma, it is worth making conclusions.

Meet our winners!

1st place: "How I got here" (+90.55%).

2nd place: "CZ will not fail" (+87.78%)

3rd place: "cryptoday" (+62.77%)

The struggle for the first place was very intense. And CZ didn't seem to have failed, but the first place was occupied by another portfolio, and nobody understood how it got here.

Last place: "HomiaktoMoon".

Best description: "CryptoHumster"

Two crypto hamsters, two hundred bucks but such different destinies. One wanted ToTheMoon, but was the last to cross the finish line.

The second one took a video of a real hamster, who (for some food) prepared a portfolio, which showed +44.18%, and took the 6th !!! place.

This is the beauty of Crypto!

Thanks to 1inch and Incrypted, and thanks to us too. And of course, a huge thank you to you guys! Participate and win, we believe in you 😉

Don't miss new battles, follow us!

— Binance has listed PowerPool (CVP) in such pairs as CVP/ETH and CVP/BUSD.

And one more thing...Buy Bitcoin! 😉