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Bitcoin price sees bulls to $11880, what’s next?

The crypto market turned bullish on the 20th of August, the Bitcoin price line rose past the $11880 before closing. The BTC price is expected to rise towards the $12400 level next. 1-Day Bitcoin price analysis Bitcoin price chart by Trading View The cryptocurrency fell to a day’s low of $11680.78. In the evening, the […]

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The crypto market turned bullish on the 20th of August, the Bitcoin price line rose past the $11880 before closing. The BTC price is expected to rise towards the $12400 level next.

1-Day Bitcoin price analysis

Bitcoin price chart 1 - 20 August

Bitcoin price chart by Trading View

The cryptocurrency fell to a day’s low of $11680.78. In the evening, the cryptocurrency king’s price rose to a day’s high of $11894.24 US Dollars. At the time of writing, Bitcoin was observed trading at $11842.37 US Dollars.

What to expect from BTC?

The Trading View analyst Atlas Trades believes that the BTC price will rise towards the $12100 level.

Bitcoin price chart 2 - 20 August

Bitcoin price chart by Trading View

The cryptocurrency has held an important support level near the $11600 level, and it is expected to rise towards the $12100 level next, where the nearest resistance lies.

What’s next for Bitcoin’s price?

The Trading View analyst Romeo Deris highlighted the BTCUSD trading pair in an ascending parallel channel. The cryptocurrency is expected to rise towards the $12400 level.

Bitcoin price chart 3 - 20 August

Bitcoin price chart by Trading View

An important resistance was drawn at the $11635 level which stretches in the middle of the ascending parallel channel. The cryptocurrency moved above the resistance, which is now a support level, on the 13th of August. The BTC price tested the $12400 mark on the 17th August, after which it bounced back towards the $11635 support. BTC price has held the support level, and it is now expected to retest the resistance near the $12400 mark.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.

Blockchain

Bitcoin Surpasses All Time High in Canada

Bitcoin at all time high in Canada, Nov 2020The bitcoin all time high has arrived in Canada where the currency rose to more than 25,300 CAD. That’s C$100 more than the all time high of just under C$25,200…

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The bitcoin all time high has arrived in Canada where the currency rose to more than 25,300 CAD.

That’s C$100 more than the all time high of just under C$25,200 reached in December 2017.

So making Canada the first major western country to greet the NEw YEar bitcoin all time high.

It also makes Canada one of the biggest devaluer of their own money because one cad in 2017 is clearly not the same as one cad in 2020.

That’s because bitcoin’s price in dollars is close to all time high, but not quite there yet (at the time of writing).

The volatile currency just jumped to $19,500, presumably on the news the spy-chief of USA chastised SEC over their approach to cryptos by claiming it gave China an advantage, thus so effectively accusing SEC of putting national security in danger if they don’t give bitcoin ETF.

Bitcoin then fell however to $19,200, with the bulls and bears so fighting it out at the gates of all time high.

While where Canada is concerned, all Canadians are now in profit even if they’re still a bit poorer than their Merican friends who despite much money printing, have their dollars still worth more than cad.

BTC/AUD, Nov 2020
BTC/AUD, Nov 2020

Canadians get to be the first to enjoy the fireworks, however, and that’s for the first time ever with it unclear whether Australians are annoyed or relieved that they go second in greeting the all time high for once.

Bitcoin is at 25,600 AUD there, just a bit less than the 25,700 AUD it reached in December 2017.

Meaning we will see their firework show soon enough too with America then most likely to take the display, followed by Europe and Landan.

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Blockchain

Bitcoin Surpasses All Time High in Canada

Bitcoin at all time high in Canada, Nov 2020The bitcoin all time high has arrived in Canada where the currency rose to more than 25,300 CAD. That’s C$100 more than the all time high of just under C$25,200…

Avatar

Published

on

The bitcoin all time high has arrived in Canada where the currency rose to more than 25,300 CAD.

That’s C$100 more than the all time high of just under C$25,200 reached in December 2017.

So making Canada the first major western country to greet the NEw YEar bitcoin all time high.

It also makes Canada one of the biggest devaluer of their own money because one cad in 2017 is clearly not the same as one cad in 2020.

That’s because bitcoin’s price in dollars is close to all time high, but not quite there yet (at the time of writing).

The volatile currency just jumped to $19,500, presumably on the news the spy-chief of USA chastised SEC over their approach to cryptos by claiming it gave China an advantage, thus so effectively accusing SEC of putting national security in danger if they don’t give bitcoin ETF.

Bitcoin then fell however to $19,200, with the bulls and bears so fighting it out at the gates of all time high.

While where Canada is concerned, all Canadians are now in profit even if they’re still a bit poorer than their Merican friends who despite much money printing, have their dollars still worth more than cad.

BTC/AUD, Nov 2020
BTC/AUD, Nov 2020

Canadians get to be the first to enjoy the fireworks, however, and that’s for the first time ever with it unclear whether Australians are annoyed or relieved that they go second in greeting the all time high for once.

Bitcoin is at 25,600 AUD there, just a bit less than the 25,700 AUD it reached in December 2017.

Meaning we will see their firework show soon enough too with America then most likely to take the display, followed by Europe and Landan.

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Yearn Finance Consumes Pickle Without Governance Vote

The move follows a hack over the weekend that resulted in the loss of $20 million in stablecoins, however, the community had no say in the decision. Yearn Finance has partnered, or rather absorbed, Pickle Finance in an effort to increase rewards for stakers and reimburse some of the victims of the flash loan attack … Continued

The post Yearn Finance Consumes Pickle Without Governance Vote appeared first on BeInCrypto.

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Decentralized finance platform Yearn has absorbed the embattled Pickle Finance protocol.

The move follows a hack over the weekend that resulted in the loss of $20 million in stablecoins, however, the community had no say in the decision.

Yearn Finance has partnered, or rather absorbed, Pickle Finance in an effort to increase rewards for stakers and reimburse some of the victims of the flash loan attack that occurred on November 21.

The announcement by Yearn founder Andre Cronje stated that this has been done to reduce duplicate work, and increase specialization. Pickle was cloned from Yearn Finance, which launched a ‘backscratcher’ vault earlier this month, as its Jars are based on the v1 vaults of the former protocol.

Some argue that the takeover makes sense considering that they share the same code. Yearn will reportedly be able to introduce new strategies for the stablecoin yield farming that Pickle offers.

What, No Governance Vote?

Usually, with major decisions for DeFi protocols, there is a governance vote, however, this is also often manipulated by whales bringing the entire premise into question.

A Yearn team member, going by the handle ‘tracheopteryx.eth’ [@tracheopteryx], explained why there was no need for a governance vote.

The partnership will include the merger of Yearn’s v2 vaults and Pickle Jars in addition to their total value locked (TVL). Since creating a new vault is permissionless, there is apparently no need to vote on it.

Additionally, the rewards will be in the form of Pickle tokens and something called DILL, which can be locked up over time for greater returns. They can also be used for governance of those vaults or ‘Gauges’ as they’ll be called. This doesn’t affect YFI holders so, again, no vote is necessary.

The Pickle team will migrate to Yearn and a new token called CORNICHON will launch to track losses from the recent Evil Jar exploit. These tokens will be distributed proportionally to victims of the attack.

PICKLE and YFI Token Reaction

PICKLE tokens, which dumped over 50% on the day of the hack, surged to almost $30 following the announcement. They have since rapidly retreated. At the time of writing, PICKLE was trading at $16, up 25% on the day but still down 30% from before the weekend’s exploit.

Despite the hype, PICKLE is still trading down some 78% from its all-time high in mid-September.

The Yearn Finance native token is also on the back foot, dropping 9% on the day to just below $24,000. It has made some solid gains this month, doubling in price, but is still down 45% from its giddy peak of $44,000 in mid-September.  

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Martin Young

Martin has been writing on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

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Source: https://beincrypto.com/yearn-finance-consumes-pickle-without-governance-vote/

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