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

Bitcoin Price and Trading Report: October 12th

October 12, 2020 • 
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Bitcoin is still the asset to watch, sitting in no-mans land and threatening to make a better move higher. We also watch USD, risk & gold.

Morning Traders,

With the markets ending the week strong last week, traders will be focused on the U.S. dollar open this morning as well as gold, bitcoin, oil and there will likely be a couple of trades in the in the morning and later in the afternoon as the European session begins.

Traders should consider getting trades set in the morning and holding until that session begins – there is good chance that the Asian session is undecided and drifts until bigger money makes decisions, although some movement in the Chinese Yuan is a wildcard today.


BTC had also finished the week strongly, almost trading to $11,500 over the weekend.

BTC last traded at $11,360

24 hr high: $ 11,447

24 hr low: $ 11,272


Our Trade

We expect that the end of the trade in BTC is in the blue-box at the least. Bulls do not seem to have overly committed and sentiment is not incredibly high, so the alternative – the selloff in red – seems quite unlikely.

We are cautiously optimistic that this bullishness continues and will watch this asset in the context of the U.S. dollar and gold.


Similarly, Eth has broken out of its own consolidation and the obvious target is at around $391.

24 hr high: $ 378

24 hr low: $ 369


Alt. Digital Assets

Alt. digital assets were stronger with the bitcoin move over the weekend, settling down in the lats 24 hours.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Curve Finance$CRV0.550815-1.4637931,787,350.00$45,723,512.00
Kyber Network$KNC0.949538-3.948539,482,460.00$187,891,410.00
mStable USD$mUSD0.99533-0.09044557,088.00$37,932,074.00
Reserve Rights$RSR0.00905444-0.6200526,193,713.00$84,669,369.00
Universal Market Access$UMA8.79-3.0819540,702,815.00$486,390,009.00$YFI16780.992.04487654,760,022.00$504,457,475.00

Economic Calender

Some of the Chinese figures coming out today could be interesting, with Foreign Direct Investment a big one for China, having pushed it commercially world-wide the last couple of years.

There are also hints of major change in Chinese economic policy – perhaps they have recognised that the digital Yuan creates an open-market and end of capital controls in China. It would represent a fundamental shift in everything about China.

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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