In this one of the latest and best cryptocurrency magazine, you will get to know all the weekly updates regarding market. American billionaire Stanley Druckenmiller revealed on CNBC that he has purchased Bitcoin but did not specify the quantity. ruckenmiller said that he holds much more gold than Bitcoin, but he believes that if “the gold bet works, the Bitcoin bet will probably work better because it’s thinner, more illiquid and has a lot more beta to it.” In another positive for Bitcoin, legendary investor Bill Miller told CNBC: “I think every major bank, every major investment bank, every major high net worth firm is going to eventually have some exposure to bitcoin or what’s like it.” Miller also advised investors who don’t own any Bitcoin to buy at the current prices.

A report by JPMorgan’s Global Markets Strategy team highlighted increased demand for Bitcoin from institutional investors such as family offices and asset managers, as seen in the strong inflow into Grayscale Bitcoin Trust. The authors of the report also pointed out that family offices that previously invested in gold may be looking to shift to Bitcoin

OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE:

DEFI REMASTERED – THE WISE TOKEN SOLUTION

&

TOP ISSUES A TENANT FACES – HOW PIF CAN HELP?

We were anticipating strong resistance at $14,000 from the bears. Hence, we had recommended booking profits on 80% of the long positions. However, that did not happen. Bitcoin surged on November 5 and hit an intraday high of $15,977.67 on November 6. The bears attempted to drag the price down sharply on November 7, but the bulls purchased aggressively at lower levels. This shows that the buyers are accumulating on dips. However, after the sharp rally in the past few days, we expect the BTC/USD pair to enter a consolidation or a minor correction.If the bulls do not give up much ground in the next few days, the possibility of a rally above $16,000 increases. If that happens, the pair may surge to $17,200 and then to the lifetime highs.

The upsloping moving averages and the RSI near the overhead resistance suggest an advantage to the bulls. This view will be invalidated if the pair turns down from the current levels and plummets below $14,000. Such a move could tilt the advantage in favour of the bears. Traders who have 20% of positions remaining could trail the stop-loss below the 20-day EMA. We do not see any fresh buying opportunity at the current levels. If the bears sink the price below $12,486.61, a deeper correction to the 50-day SMA is possible.

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