Bitcoin Price and Trading Report: October 29th - Mine Digital
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Bitcoin Price and Trading Report: October 29th

October 29, 2020 • 
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The bitcoin price dipped a little with a broader risk selloff in markets on coronavirus quarantines, US political stalemate and deflation.

Morning Traders,

Starting in Germany, markets priced in Coronavirus lockdowns, stalemate and deflation overnight in some of the biggest moves we have seen in some time.

Oil and equity was hit particularly hard.

Bitcoin

Bitcoin traded as if the original push higher was a false break out of the up-ward trend channel.

Traders should be aware that institutional players are less likely to chase the market, although the asset can obviously still reprice itself (which it had already done a bit of).

BTC last traded at $13,275

24 hr high: $ 13,864

24 hr low: $ 12,892

BTC/USD Chart

BITCOIN TRADE

The best trade in BTC at the moment could be the wait for a break of the levels at $12,800 to get long at around $12,600 as the next point in a potential parabolic move higher.

Ethereum

Ethereum is beginning to look like it wants to make a parabolic move higher as well

24 hr high: $ 409

24 hr low: $ 380

ETH/USD Chart

Digital Assets

Most digital assets were weaker with the broader market overnight with few winners on the day.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.320498-8.162656,231,683.00$58,729,815.00
Algorand$ALGO0.27482-4.1847580,313,373.00$220,490,524.00
Aragon$ANT3.09-6.9123128,158,374.00$106,886,099.00
Balancer$BAL10.78-11.1566833,195,368.00$88,361,353.00
Bancor$BNT0.692159-17.2796454,390,140.00$46,089,367.00
Cardano$ADA0.099083-3.53878463,989,291.00$3,079,262,920.00
Chainlink$LINK11.47-4.25418752,058,597.00$4,464,204,456.00
Compound$COMP108.01-0.7662256,865,483.00$419,943,845.00
Curve Finance$CRV0.492547-22.449678,673,262.00$51,082,029.00
Dai$DAI1.010.11886113,714,642.00$949,219,596.00
Kyber Network$KNC0.856047-5.2139418,191,426.00$169,209,217.00
Loopring$LRC0.142917-8.3292354,364,752.00$166,679,763.00
Maker$MKR544.29-6.9678546,384,111.00$493,933,718.00
Meta$MTA1.243.002588,932,808.00$10,746,210.00
mStable USD$mUSD0.9980290.56968959,086.00$41,071,410.00
Ren$REN0.277216-7.483235,871,114.00$244,001,383.00
Reserve Rights$RSR0.01380229-6.2909283,159,756.00$129,021,109.00
Stellar$XLM0.07862-3.82204140,699,561.00$1,638,791,913.00
Synthetix$SNX3.61.5545945,488,712.00$469,444,104.00
Tezos$XTZ2-3.8948197,448,202.00$1,494,548,427.00
Universal Market Access$UMA7.16-0.4005123,843,312.00$396,406,543.00
yearn.finance$YFI12567.25-6.34187210,523,010.00$377,017,558.00

Economic Calender

There is a huge amount of data out overnight, but traders must think about how the market is going to resolve the moves overnight first and foremost.

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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