This past weekend meant a lot of green candles for bitcoin (BTC). On November 11, bitcoin’s daily gain was as high as 4.5%. At the moment, a pullback for bitcoin seems unlikely, crypto traders think. Up to the price of $150,000 the way would be clear.
$90,000 is in sight for bitcoin
From the data of, among others TradingView shows that the price of bitcoin passed $89,000 after Wall Street opened. Over the past seven days, the bitcoin price has risen almost 26%, without the charts showing any signs of significant correction or consolidation.
Bitcoin is currently entering uncharted territory, but there are many traders who expect a rising price for bitcoin. For example, Peter Brandt argues that bitcoin is currently showing a large buy signal. He identified a so-called reverse head and shoulders pattern, which is positive. You have one large dip (the head), with small dips before and after that (the shoulders).
A popular account on X called Bitcoindata 21 responded that the price of bitcoin in the short term will be fueled by the bears (pessimists) among crypto traders. With their short positions, which the market then liquidates, they pull the bitcoin price up. He does not assume that bitcoin will fall back by more than 20%.
Speculations on a major price correction
There are analysts and traders who think that the price of bitcoin is in for a major correction. A trader known as Il Capo of Crypto even predicts that bitcoin will fall back to $12,000 during the current bull market.
Il Capo of Crypto is not the only pessimist. Facts from CoinGlass show that many short positions have been taken from $85,000 and many liquidations have already taken place from $80,000
Bitcoins ETFs are creating momentum
There is also an important role for the exchange-traded funds (ETFs) of bitcoin. In the previous week, Bitcoin ETFs saw more than $1.5 billion inflows.
Bitcoin’s largest ETF, BlackRock’s iShares Bitcoin Trust (IBIT), recently even surpassed gold’s ETF. The gold ETF has been trading for two decades, so this outperformance means a lot.
Editor’s tip: OKX is temporarily giving all Dutch people free bitcoin
Since its approval by the DNB, OKX is perhaps one of the most complete crypto apps in the Netherlands. With their Web3 portal you can trade more than 1 million crypto – people bought SHIBA, DOGE and PEPE before they were available on major exchanges. As a reader of Crypto Insiders you will receive 20 euros for free in bitcoin on OKX.
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šļø Bitcoin is rising: when will XRP, Ethereum and Solana actually do something? Dhe perfect altcoin storm could be on its way. Listen to the podcast now
Welcome, ladies and gentlemen! Gather ’round, because today we’re diving into the world of Bitcoin, or as I like to call it, “digital goldāif gold was actually a rollercoaster in an amusement park where the rides are occasionally shut down due to technical difficulties!”
This past weekend has been all about the green candles for Bitcoin (BTC), and boy, did they light up the place! I mean, who knew cryptocurrency could make a faster comeback than some of my old television shows? On November 11, Bitcoin achieved a daily gain of 4.5%. If this keeps up, we might need to start looking for a new Bitcoin price to have brunch withālike $150,000! Cheers to that, right?
$90,000 is in sight for Bitcoin!
As the data from TradingView shows, Bitcoin even passed $89,000 as Wall Street opened its doors. Talk about a Wall Street welcome that blows the roof off! In the last seven days alone, Bitcoin’s price has risen nearly 26%. Thatās not just good news; thatās like walking into a family reunion and discovering youāre not the one who forgot to bring the potato salad!
Now, entering uncharted territory? Itās a bit like playing Monopoly and landing on Boardwalkāyouāre not sure how you got there, but you know someoneās about to get very rich or very angry! Peter Brandt, a trader, suggests weāre seeing a large buy signal based on something called a “reverse head and shoulders pattern.” Sounds like a fancy yoga move for rich people, but it does suggest positive vibes for Bitcoin!
But hold on! Not everyone is splashing in the pool of optimism. A popular account on X, called Bitcoindata 21, hinted that those pessimists among crypto tradersāthe bears, as theyāre lovingly labeledāmight just end up pushing Bitcoin’s price higher. Liquidate their short positions? Itās almost poetic, like watching an artist create a masterpiece while you accidentally knock over the paint cans to get the dramatic effect!
Speculations on a major price correction
Of course, it wouldnāt be Bitcoin news without a splash of doom and gloom, would it? Enter Il Capo of Crypto, a trader who’s predicting Bitcoin might plummet back to $12,000 during this bull market. While Iāve seen some dramatic plot twists in movies, that would be like trying to put toothpaste back into the tube!
And what about the short positions? According to CoinGlass, many have set their stakes from $85,000. Liquidations have already happened around $80,000. Trust me, itās like watching a game of Jenga where everyone is too tipsy to remember the rulesānobody knows what’s going to crash next!
Bitcoin ETFs are creating momentum
On a brighter note, there’s a silver lining with Bitcoin’s exchange-traded funds (ETFs). In the past week alone, these ETFs saw inflows of more than $1.5 billion! Yes, folks, thatās real money pouring in faster than the last biscuits at a tea party. BlackRockās iShares Bitcoin Trust (IBIT) is in the game too, even surpassing gold’s ETF performanceāafter trading for two decades, that’s like a newcomer at a pub quiz suddenly knowing all the answers!
Editor’s tip: Free Bitcoin for the Dutch!
And hereās a cheeky little tip for our Dutch friends: OKX is giving away free Bitcoin! Yes, you heard that right. If you live in the Netherlands, you can get 20 euros in Bitcoin just by signing up! It’s like finding out you can win the lottery, but instead of numbers, all you need is an internet connection!
This offer is available for a limited time.
In conclusion, folks, Bitcoin is either on the verge of becoming the next big star in the financial world or risking its next performance in the “bull market” comedy show. What do you think? Are you a believer or just here for the laughs? Either way, keep your eyes on the priceāitās going to be quite a ride!
This past weekend was notably bullish for bitcoin (BTC), as traders saw a flurry of green candles on the charts. On November 11, bitcoin achieved a remarkable daily gain of 4.5%, signaling robust investor confidence. Currently, crypto traders remain optimistic, suggesting that a price pullback for bitcoin appears highly unlikely at this stage. Predictions indicate that the path to reaching $150,000 is becoming increasingly viable.
$90,000 is in sight for bitcoin
The latest data compiled from platforms like TradingView indicates that bitcoin’s price surged past the $89,000 mark following the opening of Wall Street. In a remarkable week, the bitcoin price has soared nearly 26%, and the charts show minimal signs of correction or consolidation, fueling further speculation about its upward momentum.
As bitcoin approaches unprecedented market levels, a growing number of traders express positive sentiment regarding its future prices. Influential analyst Peter Brandt recently highlighted a significant buy signal for bitcoin, pointing to the emergence of a classic reverse head and shoulders patternāa bullish indicator characterized by one substantial dip (the head) flanked by smaller dips (the shoulders).
A popular account on X, Bitcoindata 21, weighed in by observing that the price of bitcoin in the short term may be significantly influenced by bearish traders operating within the market. He noted that these short positions could lead to market liquidations that, counterintuitively, escalate the bitcoin price. He remains confident that bitcoin is unlikely to retreat by more than 20% from its recent highs.
Speculations on a major price correction
Despite the current optimism, there are analysts and traders who caution against potential major corrections in bitcoin’s price trajectory. A trader known as Il Capo of Crypto has even gone as far as predicting that bitcoin could plunge back to as low as $12,000 during this ongoing bull market.
Il Capo is not alone in his pessimistic outlook. Recent data from CoinGlass indicates that numerous short positions have taken shape since Bitcoin surged to $85,000, with a wave of liquidations already occurring as prices dropped from the $80,000 threshold.
Bitcoins ETFs are creating momentum
The rise of exchange-traded funds (ETFs) for bitcoin has played a pivotal role in this upward trend. Over the course of the previous week, Bitcoin ETFs witnessed inflows exceeding $1.5 billion, signaling robust institutional interest and confidence.
The largest bitcoin ETF, BlackRock’s iShares Bitcoin Trust (IBIT), has notably outperformed gold’s ETF, marking a significant milestone given that gold ETFs have been active for the past two decades.
Editor’s tip: OKX is temporarily giving all Dutch people free bitcoin
Since receiving approval from the DNB, OKX has emerged as a comprehensive crypto platform in the Netherlands. Their Web3 portal allows users to trade over a million cryptocurrencies, even facilitating purchases of tokens like SHIBA, DOGE, and PEPE before they reached major exchanges. As a special offer for readers of Crypto Insiders, you will receive 20 euros worth of free bitcoin upon signing up with OKX.
Join OKX for free this week and claim your free bitcoin bonus.
This offer is available for a limited time.
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šļø Bitcoin is rising: when will XRP, Ethereum and Solana actually do something? The perfect altcoin storm could be on its way. Listen to the podcast now
Theā¤ momentumā isā further ā¤bolstered by BlackRockās iShares Bitcoin Trust (IBIT), which hasā¤ outperformed traditional goldā ETFs, an impressiveā£ feat for a ānewcomer toā the market. With over two decades of performance data for gold ETFs, seeing Bitcoinās ETF catching and surpassing that is akin to a ā£rookie anime character suddenly mastering all their abilitiesāquiteā the spectacle!
Exclusive Offerā¤ for Dutchā Residents
Now for a littleā£ something special for our Dutch audience: if you’re living in the Netherlands,ā¤ you’re in luck! OKX is offering 20 euros in free Bitcoin just for signing up! That’s rightāthe opportunity is knocking, andā£ you merelyā¤ need a few clicks to open theā door to some free ācrypto! Whatā£ could be better ā¢than that?
Thisā£ offer is āavailable for aā limited time.
the world ofā¢ Bitcoin is stirring with excitementā¤ and speculation. Will we witness Bitcoin soar to new heights, or will the correctiveā£ winds blow a few clouds āinto this sunny forecast? Regardless ofā your stanceābe it cautious, optimistic, or just here for theā¢ wild rideāstay tuned and keep watch over thoseā£ price charts. This is goingā¢ to ā£be oneā¢ memorable crypto saga!