Path to $20,000 Bitcoin price now wide open after previous resistance breaks...
One week in review:
Nov. 16–21 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. Path to $20,000 Bitcoin price now wide open after previous resistance breaks | | | Is… is this happening?! After encountering resistance at $18,420 (a price that was unthinkable even a few days ago), Bitcoin surged to new highs of $18,817. The latest boost put BTC within touching distance of $20,089 — the all-time high set back in December 2017. | | | "It's killing it this year," Fundstrat Global Advisors co-founder Tom Lee enthused. He added that 2021 could be a year of "fireworks" for the world's biggest cryptocurrency. | | #2. Ether hits $500 for the first time since June 2018, outperforming Bitcoin YTD | | | It isn't just Bitcoin that's starting to return to historic highs. ETH hit $500 for the first time since June 2018 on Friday, with other altcoins also slowly staging a comeback. | | | Cointelegraph Markets analyst Michaël van de Poppe has argued that a realistic top for ETH's next bull run could be as high as $20,000, while Nugget's News CEO Alex Saunders has forecast that Ether could beat its all-time high of $1,400 by the end of 2021. | | #3. Attack of the vampires: Uniswap loses 57% TVL as rivals up rewards | | | The celebratory atmosphere isn't extending across the whole of the crypto sector. The total value locked in Uniswap crashed 57.5% after its yield farming incentive program ended — plummeting by more than $1 billion in less than 24 hours. | | | SushiSwap saw an opportunity to pounce, with the cloned, automated market maker announcing a new scheme covering the same four pairings previously incentivized by Uniswap. Its TVL has rocketed by almost 160% in two days, from $407 million to $1.05 billion. | | #4. Prediction of the Week Bloomberg's McGlone thinks Bitcoin could hit $170,000 over the next two years | | | Bloomberg Intelligence analyst Mike McGlone suggested that the next year or two "could add a zero" to the end of Bitcoin's price — taking it to $180,000 at current levels. | | #5. FUD of the Week Bitcoin price drop in 3, 2… 1? Fear & Greed Index nears dangerous record high | | | As the markets surged, there's one thing that's worth keeping an eye on: the Fear & Greed Index. This metric has been firmly in the "extreme greed" category for some time. It was flashing a score of 86 on Friday and an eye-watering 94 on Thursday. That's close to the all-time high of 95 points out of 100 seen on June 26, 2019. | | | Compiled using multiple estimates of investor sentiment, the Crypto Fear & Greed Index delivers a normalized score out of 100 to gauge how overbought or oversold cryptocurrency markets really are. The closer the number is to 100, the greater the chance that the market is due for a pullback. Heavily tied to price action, the index has succeeded in calling price tops with considerable accuracy since its launch in early 2018. | | #6. FUD of the Week "Coordinated media FUD" about Bitcoin from Financial Times to Fox Business | | | Mainstream media outlets are finally reporting on the recent rally that saw Bitcoin creep close to its all-time high, but some commentators appear to be determined to spread FUD. The Financial Times published an editorial that warned Bitcoin's "status as a safe haven is more theoretical than anything else." | | | Fox Business also noted Bitcoin's price rise with apparent alarm and set about warning its readers away from investing in the cryptocurrency. It rounded up Bitcoin haters including gold bug Peter Schiff, Roubini Macro Associates CEO Nouriel Roubini and Bridgewater Associates founder Ray Dalio. | | Feel free to explore the most important news with Hodler's Digest:
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