The euphoria around the Bitcoin rally spurred investors in earnest because there is still a chance to jump into the last car before the 2017 high update. Could “extreme greed” in the crypto market trigger a pullback in Bitcoin’s price?

Bitcoin spot volumes updated 2020 high
Bitcoin was once again able to justify the forecasts of traders: yesterday, the crypto asset updated its annual maximum, reaching a critically important indicator of $16,200. Since the beginning of November, the price of Bitcoin has risen by 23%. If we start from the low point of the annual price of Bitcoin at $3,915 on Black Thursday, the flagship cryptocurrency has risen in price by more than 300%.

The rise in the price of Bitcoin has further spurred the interest of retail and institutional investors in buying crypto assets. According to an analysis by Arcane Research, spot Bitcoin volume has grown more than 270% over the past month. The last time we saw such a high trading volume on spot exchanges was after a massive collapse in March.

Of course, a wave of euphoria has swept the crypto market. Increased optimism is pushing many “players” to sell the asset. This trend can be clearly seen in the sharp jump in the fear and greed index. As of today, this indicator has reached “extreme greed” – the 86 mark. The last time we saw such a high value was in June 2019, when the price of Bitcoin came close to $14,000.

Experienced investors are advised not to succumb to the general excitement and not to sell Bitcoin on emotions. However, fear of loss of profits (FOMO) hangs over the crypto market, which could eventually lead to a correction in the price of Bitcoin.

Large investors are ready to “make friends” with Bitcoin
In November, the upward trend in institutional investment in Bitcoin also intensified, which has been stable at a high level for several months in a row. In particular, large investors are showing an increased interest in buying Bitcoin. It is the large investors who show an increased interest in buying Bitcoin. In particular, billionaire Stanley Druckenmiller publicly talked about his investments in Bitcoin this week.

Open interest in Bitcoin futures on CME is close to $1 billion. In October alone, this figure rose by 169%. It is noteworthy that the number of large futures holders (contracts from 25 BTC) increased by 126% compared to 2019. According to Arcane Research, it is the new entrants who have entered the crypto market amid the current surge in Bitcoin and the growing fear of lost profits that fuel the open interest in Bitcoin.

Binaryx Changelog: November 10, 2020
Hi friends! Welcome for everyone!

Subscribe to our newsletter and don’t miss our weekly newsletter within platform updates.

Most recent & hot updates about the Binaryx platform:

We are improving the page speed and performance of our website.
The new layout for the marketplace/social trading page is finished. Feel free to discover it here – https://www.binaryx.com/marketplace.
Our engineering team is working on a new microservice infrastructure.
Some minor fixes of the trading terminal are on the go.
A fresh podcast with our new guest is coming soon.
A new blockchain and trading academy is in progress.
Don’t miss the chance to follow our social media networks, where we do a fantastic job of posting unique and handcrafted content.
Our content team continues delivering curated blog posts into the Binaryx blog.

Good afternoon, we are launching a terminal this Thursday, you can become a tester and get a T-shirt)

"Calm On The Crypto Market": Traders Predict Price Stagnation Of Bitcoin And Altcoins Until 2021

The updating of price highs on the crypto market is not expected until the end of 2020. Why do traders consider Q4 “boring” for Bitcoin and altcoins?

Slowdown on the crypto market

Most traders do not expect significant changes in the cryptocurrency market until the end of 2020. If we take into account the 4th quarter of 2018 and 2019, this period can be safely dubbed as the "hibernation" phase for the cryptocurrency. Then, weak price dynamics led to an increase in bearish sentiment, and the 4th quarter ended with a predominance of negative on the crypto market. Technical analysts see this as a regularity, so they predict a repeat of this pattern at the end of 2020.

The price movement of altcoins in the current Q4 will likely be highly dependent on the dynamics of the Bitcoin exchange rate. Today, the flagship cryptocurrency is squeezed in the price range of $10,500 - $11,000. Over the past 2 weeks, the price of Bitcoin has decreased by 6%. According to Cointelegraph, small altcoins and DeFi tokens have responded to BTC's rebound from the key $11,100 support level with a 30-60% price drop.

How long will the “boring” phase last?

Shortly, altcoins will be in a stagnation phase, which can also provoke dumping in the price of crypto assets. Van de Poppe, an analyst at Cointelegraph, is convinced of this. On his Twitter, he shared a chart that shows the so-called "boring" movement and prolonged price correction in the cryptocurrency market in the 4th quarter of 2018 and 2019.

However, Van de Poppe believes that this period can be used by Bitcoin to increase its dominance in the crypto market. According to him, the first quarter of 2021 is likely to become an altseason.

Binaryx offers the best-in-class cryptocurrency trading and exchange experience for both newbies and professional users. Our main goal is to build an entire ecosystem for users to trade, learn, and monetize their skills in cryptocurrency.

The first edition of Binaryx has the following features:


Exchange module to set up the basic component
We decided to start with a common but most useful feature which we use ourselves on a daily basis. We currently support the following cryptocurrency for purchasing: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Tether, Ripple with USD, EUR, UAH, RUB. Sure, we are working on the integration of additional digital currencies, such as ChainLink, Cardano, Dash, NEO, etc.


Terminal to trade in a smart way
One of our main goals was to design a lean and flexible to tune-up interface. UI of the Binaryx developed in close cooperation with the traders using the most innovative design approach.


Wallet to store values
You can keep your assets in a wallet on the Binaryx platform. Further, the wallet allows you to deposit or withdraw digital currencies to other wallets. Operations with flexible-fee exchanges are also available.


Blog to keep up to date
We publish a fresh changelog once a week. Moreover, our editorial team is regularly publishing actual news, trading strategies, podcasts, and interviews.


Academy to skill up within trading
Binaryx Academy is a place where you can study cryptocurrency domain and trading strategies in-depth. All courses are free to use and have been created by professional traders.



White label solutions for joint success
If you plan to launch your own cryptocurrency trading business, we are here to help you! Binaryx offers white labeling of the trading module, wallet, and basic exchange, alongside with an access to liquidity, 24/7 troubleshooting and support. Also, our team can assist you with legal questions, licenses, and more.


🔜 Coming soon features:

ETF indexes. Our team is working on the ETF indexes that allow simplifying the management of digital assets, increase interest yield, and minimize risks.

Margin trading & futures. We know margin trading & futures is a crucial feature for any trader, so we plan to add it by the end of 2020.

API. Set up digital API and get access to all the Binaryx features in your business.

Commodities. Binaryx will support the ability to buy and sell commodities with digital currencies. Coming soon in 2021.

Business tokenization. Our team is working and plan to add business tokenization in 2021. As a result, it will open whole new possibilities for both business owners and investors.

Social trading. Introducing the low-risk social trading module where you can find and hire professional traders who can manage your portfolio to maximize the cryptocurrency income. Coming soon next year.


Thank you for reading the information about our company.

Visit our website, create your account and enjoy trading. We really appreciate your feedback. It helps us improve our product. 😉