Bitcoin Price and Trading Report: November 12th - Mine Digital
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Bitcoin Price and Trading Report: November 12th

November 12, 2020 • 
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A risk-bid developing in markets after failing to retrace all-time highs in S&P500. Bitcoin could trade higher on this independent of gold.

Morning Traders,

With the market expecting a Biden presidency (although the result is still disputed) there is an interest in keeping an eye on their coronavirus response. Some of the latest information includes talk of a nationwide 4-6 week shutdown in the US, which is a real wildcard in the market, especially because of the January handover date.

The US equity market stabilised overnight, daring itself to trade higher, which would be remarkable but is possible.

Gold is weak again and oil strong, supporting the idea that equities will trade higher. We might have seen the best of gold if this equity rally gets going.

Bitcoin

Bitcoin is on the move and looks like an asset that wants to go for the all-time highs around $20k. BTC last traded at $15,722.

24 hr high: $ 15,991

24 hr low: $ 15,290

Bitcoin USD Chart

Bitcoin Trade

There could be a strong momentum trade in Bitcoin, where a break of the high here could see the asset trade relatively quickly to all-time highs. Traders should keep the markets previous price action in mind in which volatility selling and short positions kept the market down.

Ethereum

Eth has outperformed Bitcoin the last 24 hours and is capable of making its own strong move.

24 hr high: $ 477

24 hr low: $ 450

Ethereum USD Chart

Digital Assets

Mixed results in alt-coins overnight, with the froth taken off of some assets in a time period that tech equity assets rallied in the US

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.545355-18.368627,037,037.00$73,157,483.00
Algorand$ALGO0.2791-2.7783581,470,032.00$224,043,676.00
Aragon$ANT3.486.8801818,894,905.00$120,364,217.00
Balancer$BAL11.66-4.8032638,601,465.00$108,847,431.00
Bancor$BNT0.725032-1.3847935,013,122.00$49,006,374.00
Cardano$ADA0.1060770.17133435,410,817.00$3,300,114,626.00
Chainlink$LINK12.9-1.493891,003,863,941.00$5,049,259,202.00
Compound$COMP103.591.1958449,787,154.00$405,764,655.00
Curve Finance$CRV0.55006-1.7284186,756,318.00$63,420,086.00
Dai$DAI1.010.04769168,508,506.00$999,639,056.00
Kyber Network$KNC0.9057382.7161745,604,706.00$179,321,940.00
Loopring$LRC0.185916-15.08557113,645,134.00$220,253,678.00
Maker$MKR547.72-0.7287738,754,787.00$496,717,059.00
Meta$MTA1.23-17.600419,899,372.00$12,787,288.00
mStable USD$mUSD0.991863-0.6674977,395.00$36,726,086.00
Ren$REN0.314099-7.8843160,861,451.00$275,846,970.00
Reserve Rights$RSR0.01746274-0.1216698,335,727.00$162,866,905.00
Stellar$XLM0.080721.1606128,512,918.00$1,689,421,599.00
Synthetix$SNX4.07-15.5034255,762,454.00$531,845,605.00
Tezos$XTZ2.13-1.163788,598,250.00$1,594,939,060.00
Universal Market Access$UMA8.8115.2885932,978,924.00$488,417,768.00
yearn.finance$YFI16323.32-10.6948667,947,976.00$488,504,920.00

Economic Data

The data is still probably overshadowed by events – with whatever is happening in this market at present (new market structure still to be resolved), event risk (coronavirus lockdowns), the U.S. presidential race and the prospects of fiscal stimulus.

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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