This week in the crypto market was quite euphoric and entertaining thanks, for the most part, to the movements of Bitcoin (BTC). We tell you everything you need to know to start the week properly.
Weekly summary of the crypto market
Bitcoin reaches supernatural strength
On October 27, we reported on CryptoTrend that Bitcoin (BTC) had managed to surpass its 2020 high to settle slightly above $ 13,000.
We also noted that Michaël van de Poppe, an analyst at CoinTelegraph, explained that the leading crypto was showing a clear resistance zone between $ 13,000 and $ 14,250; This last level being the next big hurdle that the crypto market must face before seeing BTC at $ 20,000.
However, after hitting its annual high of $ 13,859, on October 29 Bitcoin fell slightly and took the rest of the crypto market with it.
Even so, the crypto leader knew how to hold on very well to $ 13,500; The same could not be said for the rest of the crypto market which remained in the red.
Consequently, this week in crypto has been quite positive for Bitcoin. What’s in store for you next?
MicroStrategy falls more in love with Bitcoin every day
The leading crypto has undoubtedly been driven by increased demand from large institutional investors such as MicroStrategy. Hence, Bitcoin learned how to keep them happy.
Let’s remember that MicroStrategy invested USD 425 million in the leading crypto; an investment that motivated the entire crypto market. Well, it turns out that this week it was announced that this investment has brought him USD 100 million in profits.
Likewise, Michael Saylor, CEO of MicroStrategy, said this week that Bitcoin “is a solution of 250 billion dollars.”
This is how Bitcoin has become more interesting every day and, precisely that, is what Grayscale revealed this week in its October report.
Leading crypto will turn 100 days above $ 10,000
That’s right, soon Bitcoin will be 100 days old, reaching over $ 10,000; being the longest time that it has been found above that mark.
As we reported in CryptoTrend, the leading crypto has a pattern where, after spending more than 100 days above a level, the price catapults to a new level.
Will you do it this time? The next few weeks will tell us.
Crypto problems from the past haunt Binance
In almost every week we can find some controversial or problematic news in the crypto market; this time it was an alleged strategic document apparently made by Binance to mislead regulators.
The news about the leaked document was published by Forbes this week; The article assures that Binance tried to communicate with those responsible, including CEO Changpeng Zhao, but did not get a response.
CZ responded on Twitter by mentioning the Forbes article and assured that the document was not made by an employee or former employee of Binance. He added that anyone could do it but that does not mean that Binance follows it.
New evidence, new possible Satoshi Nakamoto
This week a series of fairly credible pieces of evidence emerged that points to John Forbes Nash as the person behind the pseudonym Satoshi Nakamoto.
At CryptoTendency we collect all the evidence that points to the possible identity of Satoshi Nakamoto.