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Bitcoin Hits $75K as Trump Leads U.S. Polls

As Trump led US election results, Bitcoin hit a new all-time high of $75k. In this newsletter, we consider what this means for long-term investors.

Bitcoin Hits $75K as Trump Leads U.S. Polls

💵 Welcome to the Bitcoin newsletter for long-term wealth creators.

📈 Bitcoin Price - 3 Months

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Bitcoin touches a new all-time-high of $75,340.
Source: https://www.bitcoinmagazinepro.com/bitcoin-price-live/

🌡️ Bitcoin Temperature

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1: Extreme Fear - 5: Extreme Greed
Be greedy when there is fear in the market and fearful when there is greed.

This article explains how to use the Bitcoin temperature to make your Bitcoin investment decisions. The Bitcoin Temperature is now available on my website and updated every Wednesday.
Source: https://www.sandeepgoenka.com/btc-metrics/btc-temperature
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The Bitcoin temperature is towards the upper end of the Neutral zone. It's in a range where one can consider selling Bitcoin to pay off debts or create liquidity for short-term (3-6 months) requirements.
Source: Source: https://www.sandeepgoenka.com/btc-metrics/btc-temperature

🥊 Bitcoin Vs Other Assets

Source: https://www.sandeepgoenka.com/btc-metrics/btc-vs-other-assets

🌊 ETF Flows

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Bitcoin ETFs added another 30k Bitcoin and hit a new record of 390k Bitcoin. However, 4th November saw the second-highest sell-off. Data for the last 2 days is pending.
Source: https://heyapollo.com/bitcoin-tracker/flows

🗞️ Bitcoin Bytes

  • Bitcoin's RSI touches 70.
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The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of Bitcoin's price movements. It ranges from 0 to 100 and helps gauge whether Bitcoin is overbought (typically above 70) or oversold (below 30), signaling potential reversal points.

I do not recommend using this indicator for trading. However, based on the Bitcoin Temperature, if you decide to sell some Bitcoin, you can use RSI to decide when the RSI is in the Strong or Overbought zone.
Source: https://www.cryptowaves.app/

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See you in the next block.
Sandeep Goenka

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