Bitcoin Price and Trading Report: December 8th - Mine Digital
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Bitcoin Price and Trading Report: December 8th

December 8, 2020 • 
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Bitcoin Price

Morning Traders,

Risk assets have struggled overnight although more or less trading sideways. They are in a place where they need to take off to be convincing here though and too much time spent at the high and they ought to roll over – potentially on events.

Bitcoin

Bitcoin has lost a lot of its volatility at the high of the market. Our original thesis over the weekend was that the S&P500 and BTC markets were in a similar structure and that there was far more potential to the downside than upside, but gave the market 24 hours to digest the M1 numbers.

We are more biased towards the downside for now.

BTC last traded at $19,173

24 hr high: $ 19,400

24 hr low: $ 18,898

BTC/USD Chart

BITCOIN TRADE

The better risk/reward for a trade is short (always HODLING investments separate to trade) at the current position here. If the market does come off we might expect it to pick up in January/February

Ethereum

Eth looks more like a market rolling over than Bitcoin.

24 hr high: $ 601

24 hr low: $ 585

ETH/USD Chart

Digital Assets

Most assets were lower overnight

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.9015692.0422212,643,935.00$95,060,224.00
Algorand$ALGO0.329147-2.1574990,501,055.00$265,690,482.00
Aragon$ANT3.39-2.4120522,692,554.00$117,486,425.00
Balancer$BAL13.42-2.1882525,602,149.00$136,530,089.00
Bancor$BNT1.03-0.3615237,373,463.00$87,365,449.00
Cardano$ADA0.15374-3.07332602,625,222.00$4,786,999,025.00
Chainlink$LINK13.07-2.75819571,094,474.00$5,163,816,320.00
Compound$COMP152.7111.8953660,449,731.00$603,595,808.00
Curve Finance$CRV0.7079420.3064246,550,050.00$100,436,274.00
Dai$DAI1.010.12675127,679,814.00$1,074,194,326.00
Kyber Network$KNC0.954148-1.8857521,721,636.00$191,097,031.00
Loopring$LRC0.182813-3.0240623,176,063.00$228,051,547.00
Maker$MKR518.88-1.7428933,665,150.00$470,347,608.00
Meta$MTA1.221.984096,792,961.00$12,825,716.00
mStable USD$mUSD1-0.18259428,031.00$28,413,757.00
Ren$REN0.335284-1.5783228,672,540.00$293,964,850.00
Reserve Rights$RSR0.019973945.7173938,563,412.00$186,712,502.00
Stellar$XLM0.167598-3.82016294,475,040.00$3,647,639,916.00
Synthetix$SNX5.190.507954,666,414.00$705,358,291.00
Tezos$XTZ2.26-2.2461387,340,995.00$1,710,587,751.00
Universal Market Access$UMA7.81-1.4938810,631,948.00$436,350,880.00
yearn.finance$YFI28495-0.70469322,669,718.00$854,807,488.00

Economic Calendar

As we head into the middle of December we want to see bullishness in risk assets and the Bitcoin price continue or otherwise squeeze.

Whether you want to simply buy and sell or access advanced features, we have the tools you need. Mine’s order-book exchange lets you trade BTC, ETH, XRP, LTC and BCH against AUD, USD and USDT*. Mine Digital, Australia’s best Cryptocurrency Exchange.

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