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Bitcoin, UNI & SNX - American Wrap: 11/5/2020

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Bitcoin, UNI & SNX - American Wrap: 11/5/2020

Bitcoin Hits $15,000 For The First Time Since January 2018

In our last article, we discussed the possibility of Bitcoin hitting $15,000 as it was facing very little resistance to the upside. With very little opposition above, it seems that Bitcoin has no limit and will likely hit its all-time high at $20,000 again. Despite the current price, it can be observed a massive spike in the number of holders with 100-1,000 coins from 13,754 on October 30 to 13,986 currently. This metric shows investors are still extremely interested in BTC even though the price is already quite overextended. 

UNI Price Screams Buy As Bulls Aim For $2.8 Thanks To Strong Signals

Uniswap has plummeted by more than 77% since its all-time high at $8.6 on September 18. Although UNI bulls are still facing a lot of hurdles ahead, it seems that several indicators and on-chain metrics have turned in their favor.

Money Begins To Flow Outside Bitcoin To DeFI With SNX, YFI, And CRV Prices Exploding

There is still no clear winner of the 2020 US presidential elections but it seems that the crypto market simply doesn't care. Although Bitcoin continues leading the way at $14,900, several altcoins, especially DeFi coins, also see significant gains. 

Image sourced from Pixabay

 

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