Bitcoin Price and Trading Report: November 2nd - Mine Digital
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Bitcoin Price and Trading Report: November 2nd

November 2, 2020 • 
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Bitcoin is sliding higher over the weekend and threatening another leg higher. With the US election coming up Tuesday we expect low liquidity.

Morning Traders,

With the US election coming up this week and a risk-off sell beginning we have to consider the potential for momentum to continue until the day of the election as positions are adjusted and liquidity is taken out of markets.

It makes sense that books would be squared and positioned beforehand, also that liquidity could take 2-3 days to return to markets.

This could also mean 2-3 days of momentum after the election before markets stabilise.

In the potentially more likely scenario of a disputed result, markets could remain in a slump and trade lower for a longer time period in a deflationary risk-off trade until fiscal of monetary expenditure eventuates.

Bitcoin

BTC has maintained its secular bull market and is sliding higher, looking like it has the potential for another leg higher.

Bitcoin last traded at $13,741

24 hr high: $ 13,907

24 hr low: $ 13,629

BTC USD Chart

Ethereum

Eth was the stronger asset in the last 24 hours although it is still lagging on a longer timeframe.

24 hr high: $ 398

24 hr low: $ 385

Ethereum USD Chart

Digital Assets

Digital assets have had mixed results the last 24 hours. For an indication to performance and market sentiment we want to see what they do when bitcoin is bid again.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.3042121.365466,210,187.00$52,751,987.00
Algorand$ALGO0.2567333.1426752,141,514.00$206,247,470.00
Aragon$ANT3.07-0.8102315,968,602.00$106,358,841.00
Balancer$BAL9.85-0.2694515,994,757.00$80,847,775.00
Bancor$BNT0.6147114.5249634,331,411.00$41,019,975.00
Cardano$ADA0.097535.20748337,992,054.00$3,033,315,547.00
Chainlink$LINK11.492.68191876,817,404.00$4,475,960,462.00
Compound$COMP93.873.9265818,667,970.00$366,061,595.00
Curve Finance$CRV0.401477-3.5168719,153,362.00$42,205,479.00
Dai$DAI1.010.0175670,427,627.00$944,764,948.00
Kyber Network$KNC0.7920350.5251413,839,161.00$156,766,640.00
Loopring$LRC0.1483144.0649264,729,682.00$176,283,517.00
Maker$MKR539.943.3493525,332,603.00$490,956,149.00
Meta$MTA1.057.712565,627,272.00$9,093,744.00
mStable USD$mUSD0.9980190.16755292,595.00$38,132,269.00
Ren$REN0.266843-5.1424132,290,658.00$235,042,851.00
Reserve Rights$RSR0.012332366.6809858,702,912.00$115,287,008.00
Stellar$XLM0.0784620.8397797,172,661.00$1,637,319,360.00
Synthetix$SNX2.91-3.8144324,983,097.00$381,209,520.00
Tezos$XTZ1.980.8084764,105,927.00$1,478,224,489.00
Universal Market Access$UMA6.841.8278510,868,603.00$377,923,886.00
yearn.finance$YFI10625.921.91827171,338,245.00$319,196,102.00

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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