Bitcoin price and Market analysis: Bitcoin is in a bullish pennant

Bitcoin daily chart on the Basis of the value pair is BTC/USD on the stock exchange Bitstamp created.

The moving average values for 100 and 200 days to approach, offer support and resistance levels and narrow the range. BTC is to redkation conclusion on the price level between US $ 9,000 and 9,500 US dollars price level. The chart pattern remains in a bullish pennant and is approaching the inevitable massive Trend. Also, the exponential moving average returns upwards.

daily chart on the Basis of the value pair XLM/USD on the stock market Kraken created.

On 4. November Stellar reduced the number of tokens by more than half. The Foundation explained about 50 billion burned Token as a measure, in order to be more efficient. After the removal of tokens in circulation (mostly from Giveaway programs) are currently 20 billion XLM on the market. This led to a price movement of 30%, as traders speculate over the news.

According to a study by the two American professors, John Griffin (University of Texas) and Amin Shams (Ohio State University), was the Bull Run in 2017 of a single Bitcoin-whale manipulated. They claim that to cause such a massive price increase in Tether for the transaction was used.

Tether rejects this assertion is obvious because you are also supports the controversy that USDT will be created without corresponding counter-value in U.S. dollars, and then is used to buy BTC and to stimulate the rate of growth.

simulations show that these patterns are highly unlikely to be random. This wrote a great actor or this company showed either a clairvoyant market timing, or had a big influence on Bitcoin, which is not observed in the total flow of other smaller traders,

the professors. The crypto Community is of this study are not completely convinced and critics as fundamentally flawed.

After initially disappointing low volume, the significant price increase in Bitcoin has also increased the interest of institutional investors. Since then, Bakkt shows a good volume, although BTC moves sideways.

Disclaimer: The information on this page is the illustrated rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.

Charts on the 08. November 2019 by using trading view created.

USD/EUR exchange rate on the cut-off of 0.90 Euro.

The market comment was written from the Bitwala Trading Team. Bitwala provides the easiest and safest way to buy Bitcoin directly from a Bank account and to sell. More info here.