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Bitcoin Falls, but Expert Sees Rebound on Horizon

By Yasin Ebrahim AiVIF.com – Bitcoin fell sharply on Monday, as the popular cryptocurrency wasn’t spared from the sea of the red that swept across risk markets, but the selloff...
Bitcoin Falls, but Expert Sees Rebound on Horizon © Reuters.

By Yasin Ebrahim

AiVIF.com – Bitcoin fell sharply on Monday, as the popular cryptocurrency wasn’t spared from the sea of the red that swept across risk markets, but the selloff hasn’t deterred some bulls who believe the next crypto rally could see BTC hit $100,000 as soon as November.

BTC/USD fell 9% to 43,486, but the popular crypto will “bounce back from today’s low points due to wider adoption,” Brad Yasar, CEO of EQIFI, said in an email on Monday.

“The widespread adoption … could see BTC hit $100,000 in 2022, or even as early as November 2021 if there is a rally,” Yasar added.

The bullish remarks on BTC come as the crypto market has been caught up in risk-off sentiment as investors hit pause on risky assets amid growing fears over a credit crunch in China.

China Evergrande Group, the second largest property company in China, has more than $300 billion in liabilities, and reports suggest it won’t hit an interest payment deadline on its offshore bonds due Thursday.

As real estate sector is a key component of the nation's economy, investors are growing increasingly concerned about a wider liquidity crisis could hamper the China, and the global economic growth.

Despite this backdrop, there is reason for optimism amid signs of improving fundamentals on the Bitcoin network, or blockchain.

“Bitcoin price action, and on-chain investor responses appear relatively robust,” Glassnode wrote in its weekly on-chain report.

“Overall exchange balances have continued to decline this week, reaching a new multi-year low of 13.0% of circulating supply this week,” it added.  “Supporting this observation, is a deeply negative (outflows) exchange net-flow reading this week, with current BTC outflows occurring at a rate of -92k BTC/month.”

Rising outflows from bitcoin exchanges, often serves a bullish indicator of demand showing that an increasing number of investors are moving their coins off exchanges to private wallets to hold bitcoin for the long haul.

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27-10-2021 01:22:41 (UTC+7)

EUR/USD

1.1599

-0.0008 (-0.06%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (5)

EUR/USD

1.1599

-0.0008 (-0.06%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (5)

GBP/USD

1.3770

+0.0001 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (3)

USD/JPY

114.17

+0.47 (+0.41%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (1)

AUD/USD

0.7505

+0.0014 (+0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (2)

USD/CAD

1.2380

-0.0001 (-0.00%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (9)

Sell (1)

EUR/JPY

132.41

+0.46 (+0.34%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (4)

EUR/CHF

1.0667

-0.0008 (-0.07%)

Summary

Sell

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Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (3)

Gold Futures

1,794.15

-12.65 (-0.70%)

Summary

↑ Buy

Moving Avg:

Buy (10)

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Indicators:

Buy (10)

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Silver Futures

24.142

-0.450 (-1.83%)

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↑ Buy

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Buy (12)

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Buy (7)

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Copper Futures

4.4908

-0.0372 (-0.82%)

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Neutral

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Buy (1)

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Crude Oil WTI Futures

84.72

+0.96 (+1.15%)

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↑ Buy

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Brent Oil Futures

85.72

+0.55 (+0.65%)

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↑ Buy

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Natural Gas Futures

6.027

-0.029 (-0.48%)

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Neutral

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Indicators:

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US Coffee C Futures

208.30

+5.75 (+2.84%)

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↑ Buy

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Buy (12)

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Buy (8)

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Euro Stoxx 50

4,223.97

+35.66 (+0.85%)

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↑ Sell

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Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (7)

S&P 500

4,583.85

+17.37 (+0.38%)

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↑ Buy

Moving Avg:

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Buy (8)

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DAX

15,757.06

+157.83 (+1.01%)

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↑ Sell

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Sell (12)

Indicators:

Buy (1)

Sell (7)

FTSE 100

7,277.62

+54.80 (+0.76%)

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↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (11)

Sell (0)

Hang Seng

26,038.27

-93.76 (-0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,307.55

-3.63 (-0.16%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

IBEX 35

9,001.60

+80.70 (+0.90%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

BASF SE NA O.N.

63.740

+0.410 (+0.65%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

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Sell (0)

Bayer AG NA

48.83

+0.27 (+0.56%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

201.95

+3.43 (+1.73%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

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Buy (9)

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Adidas AG

280.25

+2.25 (+0.81%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Deutsche Lufthansa AG

5.628

+0.154 (+2.81%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

Siemens AG Class N

141.36

+2.32 (+1.67%)

Summary

↑ Buy

Moving Avg:

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Buy (9)

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Deutsche Bank AG

11.905

+0.225 (+1.93%)

Summary

↑ Buy

Moving Avg:

Buy (10)

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 EUR/USD1.1599Neutral
 GBP/USD1.3770↑ Buy
 USD/JPY114.17↑ Buy
 AUD/USD0.7505↑ Buy
 USD/CAD1.2380↑ Sell
 EUR/JPY132.41Neutral
 EUR/CHF1.0667Sell
 Gold1,794.15↑ Buy
 Silver24.142↑ Buy
 Copper4.4908Neutral
 Crude Oil WTI84.72↑ Buy
 Brent Oil85.72↑ Buy
 Natural Gas6.027Neutral
 US Coffee C208.30↑ Buy
 Euro Stoxx 504,223.97↑ Sell
 S&P 5004,583.85↑ Buy
 DAX15,757.06↑ Sell
 FTSE 1007,277.62↑ Buy
 Hang Seng26,038.27↑ Buy
 Small Cap 20002,307.55↑ Buy
 IBEX 359,001.60↑ Sell
 BASF63.740↑ Buy
 Bayer48.83↑ Buy
 Allianz201.95↑ Buy
 Adidas280.25↑ Sell
 Lufthansa5.628↑ Buy
 Siemens AG141.36↑ Buy
 Deutsche Bank AG11.905↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,800/ 5,850
(0/ 0) # 889
SJC HCM5,790/ 5,860
(0/ 0) # 900
SJC Hanoi5,790/ 5,862
(0/ 0) # 902
SJC Danang5,790/ 5,862
(0/ 0) # 902
SJC Nhatrang5,790/ 5,862
(0/ 0) # 902
SJC Cantho5,790/ 5,862
(0/ 0) # 902
Cập nhật 27-10-2021 01:22:43
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ↀ Giá vàng thế giới
$1,792.23-15.82-0.87%
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Sản phẩmVùng 1Vùng 2
RON 95-IV2443024910
RON 95-II,III2433024810
E5 RON 92-II2311023570
DO 0.05S1871019080
DO 0,001S-V1906019440
Dầu hỏa1763017980
ↂ Giá dầu thô thế giới
WTI$84.29-0.83-1.00%
Brent$85.69-0.51-0.60%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.625,0022.855,00
EUR25.732,9927.151,49
GBP30.514,9531.789,89
JPY193,97205,16
KRW16,8320,49
Cập nhật lúc 18:54:25 26/10/2021
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