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BitcoinBites: 5 BTC stories you should know – November 10th, 2021

Nov 10, 2021
byNDAX Labs

Suddenly, Bitcoin hits new all-time high after $2K gains in minutes

Bitcoin (BTC) surprised everyone on Nov. 10 as BTC price action abruptly hit new all-time highs. The BTC price jump also coincided with news that United States inflation hit a 30-year high in October, as reported by the Wall Street Journal.

Data from Cointelegraph Markets Pro and TradingView captured a snap change of direction for BTC/USD, which gained $2,000 in just 45 minutes.

In step with various similar moves in recent weeks, Bitcoin not only reversed its previous short-term downtrend but eclipsed its previous record high of $68,564.

Read the full story on Cointelegraph

Bitcoin enters top 8 of world's largest assets by market cap and outpaces Elon Musk's Tesla

Over the last 24 hours, the valuation of the crypto market has swelled above $3 trillion for the first time, supplemented by the strong upside movement of Bitcoin.

Bitcoin (BTC) has now entered the top 8 of the biggest assets by market capitalization, surpassing Tesla, thanks to its recent run.

Read the full story on Cryptoreportage

Bitcoin's major upgrade taproot set for activation this week

The much-anticipated Bitcoin (BTC) upgrade, Taproot, is expected to finally be activated this week.

Per taproot.watch, the upgrade will activate in 872 blocks from the time of writing, or in estimated 6 days.

Taproot is a major event and a major upgrade - the largest one since SegWit, which was activated in 2017.

Read the full story on Crypto News

Bitcoin rally healthy, less leverage than in the past, say on-chain analysts

The current bitcoin (BTC) rally looks healthy, with less leverage than on previous occasions, and strong support in the USD 50,000 to USD 60,000 range, on-chain analysis suggests.

Although the current crypto market rally - which has now pushed bitcoin above the USD 68,000 mark and ethereum (ETH) above USD 4,800 - has already gotten the community excited, both on-chain signals and technical analysis suggest that the prices still have room to grow.

According to the popular bitcoin on-chain analyst Willy Woo, there is “huge price validation” in the USD 50,000 to USD 60,000 range, with the analyst further saying that bitcoin has “cemented” its position as a USD 1trn asset class.

“Hard to see it dropping below this zone,” Woo said.

Read the full story on Crypto News

Bitcoin could overtake gold and real estate - here's when

Bitcoin is reaching towards new ATHs, and the king coin is making waves in the crypto space. Check out the latest optimistic predictions about the price of Bitcoin these days.

Analyst PlanB predicted when the market cap value of Bitcoin could overtake that of more traditional assets such as gold and real estate.

Read the full story on Crypto Gazette

Bonus Bite: Adrian Grenier: Bitcoin is about personal experience, sovereignty and responsibility

Grenier, who is also UN Environment Program Goodwill ambassador and founder of nonprofit Lonely Whale, has been recently building a nature-based community in Texas that “will have a hyper-local positive impact on the environment.”

What got an actor into environmentally conscious projects? On the sidelines of the event, Grenier told CoinGeek Backstage: “To build anything, I want to use money as a tool, so I started looking at finance as a way to positively impact the environment by actually investing in businesses that will improve our experience on the planet. I started looking at money itself and the store of value, and crypto comes along—it creates more transparency, equity, and access to the world’s wealth.”

Read the full story on Coin Geek

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