Bitcoin Price and Trading Report: November 9th - Mine Digital
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Bitcoin Price and Trading Report: November 9th

November 9, 2020 • 
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It's been a great weekend for digital assets, with the bitcoin price recovering well and DeFi projects also supported, forming a major low.

Morning Traders,

Markets slowed down a bit sideways but risk still looked bullish into the close. Weekend markets show an S&P500 trading marginally higher.

There is a risk of a sell-the-fact early in the week as Biden announces victory in the U.S. presidential election in a decision that is being received well internationally. The Trump team will still pursue allegations of fraudulent voting but it is not stopping team blue from making and announcing their preparations.

Bitcoin

BTC traded both ways over the weekend, dipping briefly and recovering strongly. It looks like a pure stop-out of over-leveraged and profit-taking longs. Traders may be scarred by the extended periods of consolidation earlier in the year and the more hesitant trade is to stay on the long – although we are likely to see more squeezing both ways from here.

BTC last traded at $15,539

24 hr high: $ 15,664

24 hr low: $ 14,726

Bitcoin USD Chart

Ethereum

The big question in Ethereum at the moment is in if it can outperform Bitcoin with its 2.0 implementation beginning in December (although expected to last several years).

ETHBTC staged a reversal move this week and it will be upto traders to decide on if this move is a true reversal. If it is it would see Ethereum catapulted much higher in this bullish market.

Here is ETHBTC on the lucky 3 hr chart

24 hr high: $ 461

24 hr low: $ 433

Ethereum USD Chart

Digital Assets

Digital Assets have outperformed the last 24 hours, with a strong reversal move in DeFi.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.50910514.543987,236,335.00$81,406,071.00
Algorand$ALGO0.2645353.3125471,830,725.00$212,509,208.00
Aragon$ANT3.044.9565116,004,697.00$104,769,674.00
Balancer$BAL10.252.4121922,924,526.00$84,116,261.00
Bancor$BNT0.6610843.5228232,446,044.00$43,970,109.00
Cardano$ADA0.1060872.9242463,903,169.00$3,297,460,942.00
Chainlink$LINK12.685.999371,156,954,342.00$4,963,329,138.00
Compound$COMP96.572.1817726,173,324.00$378,226,562.00
Curve Finance$CRV0.474910.6259433,088,882.00$52,860,268.00
Dai$DAI1.01-0.3633289,595,646.00$960,487,701.00
Kyber Network$KNC0.8182244.2238619,208,100.00$161,903,613.00
Loopring$LRC0.1581189.6944729,329,834.00$187,326,208.00
Maker$MKR533.661.2797534,699,903.00$485,820,757.00
Meta$MTA1.025.997484,835,149.00$9,861,413.00
mStable USD$mUSD1-0.10218525,210.00$35,581,940.00
Ren$REN0.3075245.5974257,933,894.00$271,189,330.00
Reserve Rights$RSR0.01436399.5490942,590,810.00$134,140,360.00
Stellar$XLM0.0817671.30901125,676,124.00$1,710,419,251.00
Synthetix$SNX4.2812.8604378,664,943.00$557,184,643.00
Tezos$XTZ2.081.83934111,623,308.00$1,562,877,410.00
Universal Market Access$UMA7.173.6408512,903,347.00$397,626,810.00
yearn.finance$YFI15235.979.81356670,319,897.00$456,606,440.00

Economic Calender

With the U.S. election still the biggest event with the potential to move markets, there could be a sell the fact type move on Bidens declaration of victory as well as potential market responses to Biden policy announcements.

The coronavirus is a big one in this respect.

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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