Bitcoin Roundup – What happened this week?
President Xi Jinping has done an excellent job this week as his speech has led to a strong rally in the Bitcoin course, albeit unintentionally.
At the beginning of the week, the Bitcoin price rallied to just over 8. BTC’s chart pattern was a death cross and analysts suspected a Bitcoin rate of $ 6. near future.
PlanB nevertheless confirmed that the stock-to-flow model is still intact and Bitcoin continues on its path towards 200. $ by the year 2021 is. And then came the flash crash. First we dived below 8 and a level of $ 7. 500 has been reached.
Whatever the cause of this crash was, the time for the (so far incredibly accurate) 4Chan’Wizard ‘forecast of one 18. seemed to be over. But within a few minutes, the Bitcoin price suddenly jumped over 000%. The rally ended with a 40% increase with a level at $
After such a move, the prediction of the anonymous user with a target price of $ seems Days in October.
More news of the week
At least someone seemed to benefit from the eight-week Flash crash. Bakkt has recorded a record trading volume in its physically secured futures offer, and it does indeed appear that institutions have been waiting until the Bitcoin price drops to enter the market. The daily volume has risen from two to eight million dollars.
Mike Novogratz suspected that the new professional custody solution from the company Bakkts, the prices up to 10. This has already been the case for a short time, but the next few days will show how Bitcoin will react.
In addition, Google claimed that it had achieved its “quantum superiority” with its Sycamore quantum computer. A calculation showed that they had the power to mine all 3 million remaining bitcoins in 2 seconds.
Text Proof: bitcoinist