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25,000 Bitcoin Millionaires 💰, Bitcoin > gold.

25,000 Bitcoin Millionaires 💰, Bitcoin > gold.

Hello everyone, this is our crypto weekly digest. Here you’ll find everything from weekly market summary and top news to the hottest new exchange listings and even memes to cheer you up. To get these updates as soon as we post them - follow us on Twitter.

Weekly Market Summary

Bitcoin, Ethereum (and pretty much everything else) had been going straight up for the last couple of days, putting Bitcoin within 5% of its all-time high, before correcting 10-15% in the last 24h. Whatever caused this correction - profit-taking or simply Thanksgiving - there is little doubt BTC we will see BTC at $20,000+ in the near future.

According to Bitcoin public ledger, there are currently 25,031 Bitcoin addresses that hold over $1 million worth of BTC. This means there are at least 25,000 millionaires in the crypto space right now.

If you listen carefully, you can hear the faint screams of the people who were, no doubt, told many times by those 25,000 luminaries to buy and hold BTC but didn’t listen...

Admittedly, the above estimate is not entirely accurate as there are shared bitcoin wallets, multi-signature wallets, and deterministic wallets that may be owned by a firm that controls over $1 million, or multiple wallet addresses may be owned by the same person.

For example, the address with the most BTC is Huobi's cold wallet, an exchange with the balance of 141,452 BTC or $2.47 billion (as of November 17).

Quick weekly news:

 

Other notable events include:

- A Deutsche Bank analyst said customers increasingly prefer bitcoin over gold as a store-of-value investment.

- At least one obscure indicator suggests bitcoin’s bulls have room to roam.

Bitcoin > gold

A Deutsche Bank analyst said customers increasingly prefer bitcoin over gold as a store-of-value investment. “There seems to be an increasing demand to use bitcoin where gold used to be used to hedge dollar risk, inflation, and other things,” said Jim Reid, managing director, head of global fundamental credit strategy, as quoted by ZeroHedge. Bitcoin is up 144% on the year, and gold 22%.

Top or not?

At least one obscure indicator suggests bitcoin’s bulls have room to roam. Already notching 80% gains in the past six weeks and fast approaching an all-time high of $20,000 set in 2017, the cryptocurrency’s Mayer Multiple – the ratio of price to the 200-day moving average – is showing the current rally may be in the early stages. Standing at a 16-month high of 1.67, this indicator is still well short of the 2.4 threshold that has historically signaled the final leg of the bull markets. It was this key metric that preceded the end of the 2019, 2017, and 2013 bull runs. Things are different this time around, compared to three years ago as there is less retail interest in bitcoin and significantly higher institutional involvement

Top Exchange Listings of the week

Here are the hottest exchange listings of last week: 

New Listings on Binance!

  • Unifi Protocol DAO (UNFI/BNB; UNFI/USDT; UNFI/BTC; UNFI/BUSD)
  • Travala com (AVA/USDT)
  • Syscoin (SYS/BUSD)
  • NEM (XEM/USDT)
  • Hegic (HEGIC/ETH; HEGIC/BUSD)

New Listing on Huobi!

  • Bitcoin Cash ABC (BCHA/BTC; BCHA/USDT)

New Listing on Kucoin!

  • UpBots (UBXT/USDT)
  • Bitcoin Cash ABC (BCHA/USDT)
  • Oasis Network (ROSE/USDT)
  • USD Coin (USDC/USDT)
  • TerraUSD (USDT/UST; ETH/UST; BTC/UST; LUNA/UST)

By the way, our PRO plan includes Exchange Listings Alerts for all 27 exchanges in the app. Become a PRO and receive instant notification when a new coin is listed on Coinbase Pro, Binance, or your exchange of choice.

 

Coin of the week

💲 Good Crypto - Coin of the Week #Bytom #BTM

Bytom is a blockchain-based open-source value-exchange protocol. It aims to tokenize real-world assets, such as warrants, securities, dividends, and bonds. Users can use the Bytom blockchain to create assets without limits and have these assets circulate freely.

Bytom has developed a series of products in addition to the Bytom blockchain. A DeFi protocol - MOV, open cross-chain gateway OFMF (Open federation Management Framework), enterprise blockchain - Bystack, a BBFT + DPoS High-speed sidechain - Vapor, Data service provider Blockmeta, Mobile Wallet - Bycoin, Chrome extension wallet - Byone.

😋 Recent announcements:

🔥 DYOR:

 

We have prepared for you the top-performing coins of Nov 26. 

Ontology GAS (ONG) managed to become the best performing asset from TOP-100, gaining 80.57% within the last 24 hours.

Zilliqa (ZIL) was the worst-performing asset from TOP-100, losing 23.41% within the last 24 hours.

Top Gainers and Losers of the day
To get up-to-date Gainer and Losers reports during the week follow us on Twitter. 

 

Top cryptomeme of the week

Stack sats now, get girl later! 💯🤣

Top cryptomeme of the week

We hope you found this digest useful and informative. If you want to be the first to receive new crypto insights and stay up-to-date with the market,  follow us on Twitter. Happy trading with the Good Crypto app!

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November 26, 2020

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