THE EQONEX CRYPTO GUIDE AND LEARN HUB
Daily Bitcoin and Crypto Analysis

EQONEX — Morning Update — December 1st

December 1, 2020

So Bitcoin just hit a new record. There’s not much else to say or talk about this morning.

It’s both been a very long and very short wait, relative to any other tradable asset out there. Since the Bitcoin whitepaper in late 2008 and the first transactions in early 2009, the digital currency has been rising at an insane pace. Since 2017 and the highs of $19,511, markets trended in a dramatic fashion to the 3K’s and back up to the 14K’s then back down again to the 4–5K’s, only to now rally back to the 19K’s and touch upon $19,857.

Unsurprisingly, 100% of the circulating BTC supply is now in profit.

Image for post

It’s been a wild ride, but we’re now in a zone of unexplored prices, with an investor base very different from the one before. The number of institutions commenting or actually allocating funds to cryptocurrencies this year alone is truly astounding to me. This is just the beginning, of course — when other institutions see competitors diving in the space and profiting, the temptation will be too much to handle.

It’s worth noting that alts benefited as well and, in some cases, outperformed BTC on the day. ETH is up 6.2%. LINK is closing the day at +7.8%. BSV up 8.2%. LTC rose 10.1%.

What were the fundamentals that pushed the crypto space to such heights?

The ongoing monetary policies along with institutional interest have been the themes of 2020 but, on a much shorter basis, after the massive news of Guggenheim’s SEC filing amendment to invest in BTC, the investment giant AllianceBernstein now says Bitcoin has a role in investors’ portfolio. The name of the firm has changed but the story is the same, people are waking up to what bitcoin actually is.

On a last note, I was talking to a colleague this morning who said, “it doesn’t even feel like there’s been that much news or enthusiasm about it, compared to 2017.” There hasn’t. Imagine what will happen when there is.

Related Articles

November 18: Daily BTC Analysis

November 18: Daily BTC Analysis

November 19, 2021

Matt Blom

The natural ebb-and-flow of price, has replaced the bullish moves seen through October and early November

Keep up with crypto through EQONEX!


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Daily Macro And Crypto Markets Update: Markets Pull Back But On-Chain Indicators Hint At More Upside

Daily Macro And Crypto Markets Update: Markets Pull Back But On-Chain Indicators Hint At More Upside

November 17, 2021

Justin d'Anethan

It looks like crypto isn’t correlated to traditional markets, at least not during this past session.

Daily BTC Analysis: The Weekender

Daily BTC Analysis: The Weekender

November 15, 2021

Matt Blom

One of the big factors contributing to bitcoin’s expansion over gold is that millennials are becoming more knowledgeable of the investing world.

THE EQONEX CRYPTO GUIDE AND LEARN HUB

Bringing digital assets to the world.

EQONEX is a digital assets financial services company focused on delivering a full, digital asset ecosystem that offers innovative, trusted, and transparent products and services.

Keep up with crypto through EQONEX!


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

© 2022 EQONEX Capital Pte Ltd
All rights reserved.

IS 749075