Bitcoin has lost some of the vigor that has led it to touch its all-time highs of December 2017, which it has not finally been able to pass. These recent session drops could have been caused by miners selling large amounts of Bitcoin on exchanges. According to the blockchain data provider Cryptoquant, the BTC miners’ position index reached the highest level in three months, which means they are taking money out of their assets. Something very similar to what already happened in September, in a similar movement in which the correction of the virtual currency went from $ 12,000 to $ 10,000.
However, experts say that long-term fundamentals for Bitcoin remain mostly positive, even for the entire cryptocurrency market. And it is that BBVA has launched in Switzerland its first commercial service for the purchase, sale and custody of currency online. It will be launched in January, as a test, given the greater demand that occurs among its clients for services linked to the cryptocurrency. And the idea, if it works, is to expand the offer to other digital assets, although in no case, at least for the moment, will it offer advice for investing in this type of asset.
Also Fidelity, which launches to the market from its cryptocurrency division, the request for cash loans with bitcoin as collateral, while Standard Chartered, the British bank will launch, like BBVA, a bitcoin custody service and is expected to start perform in London next year. And it will do so in addition to the cryptocurrency par excellence with Ether, Birtcoin Cash, Litecoin and XRP.
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If we look at how it evolves in its stock chart, we observe that it has moved negative in the last week, with cuts of 2.32%, after an advance that continues to be spectacular in the rest of the sections, even in the shortest term, because this past weekend it has re-emerged recovering almost 7% of its lost price. For example, in the last month, the rise exceeds 19%. Already in quarterly terms, the rise reaches 87.5% for a year nearing completion, in which since last January 1, Bitcoin has risen 170%.
Source: wsj
If we look at what our premium indicators give us, Bitcoin presents a score of 8 out of 10 possible points. In favor, the medium and long-term trend that is upward, the total, slow and fast moment and the amplitude range remain positive, the volatility that marks the value, is decreasing, in the medium and also in the long term. On the contrary, the volume, which is decreasing in both the medium and long term.
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