• Bitcoin is once again going mainstream as it nears its previous all-time high at $20,000.
• The actress behind the Ayra Stark character of Game of Thrones recently bought Bitcoin.

Bitcoin Purchased by Game of Thrones Star

Bitcoin is once again going mainstream as it nears its previous all-time high at $20,000.

Maisie Williams, the Game of Thrones actress behind the Ayra Stark character, shared this tweet the other day. It is her asking if she should go long on Bitcoin, along with a poll with a “yes” and a “no” option. Over the span of a day, the poll received 900,000 votes, with a bit less than half saying “yes” and the rest saying “no.”

Her tweet didn’t get that much engagement considering her 2.7 million followers. Still, there were some notable responses and interactions in the thread.

should i go long on bitcoin ?

— Maisie Williams (@Maisie_Williams) November 16, 2020

For one, Elon Musk, CEO of Tesla, responded by posting a link to a The Onion article about Bitcoin. He’s done this many times in the past, as he often likes to play fun with the cryptocurrency space on Twitter.

Many in the crypto space also responded to the thread. Executives of the space were quick to respond mentioning their own products, or trying to paint Bitcoin in a good light.

Whether or not she read the comments, Williams proceeded to buy Bitcoin the day after. What’s funny with this, of course, is the fact that the majority of the poll respondents voted “no” to her question about buying Bitcoin.

thank you for the advice. i bought some anyway. https://t.co/mhZiVoN6vy pic.twitter.com/XeU1KkfuXy

— Maisie Williams (@Maisie_Williams) November 17, 2020

As far as we know, she’s up on her investment thus far. Assuming she bought at the time of her tweet, she’s up around 4.5% on her investment assuming no fees.

Far From the Only Celebrity

She’s far from the only celebrity to have recently dabbled in Bitcoin.

In a livestream video for a charity foundation, Kevin Hart joked on Bitcoin, Ethereum, and cryptocurrencies as a whole:

“We don’t take the voodoo. So if you’re out here trying to give us the voodoo money, we don’t, what? We do take the voodoo. Oh wait, this is actually take cryptocurrencies — I’m told it’s a legit investment worth almost $250 billion. Okay yeah, we do take it. Ok, we take it.”

Kanye also recently said that he thinks the leading cryptocurrency is a powerful technology, not referencing its price in any way. The artist commented to Joe Rogan:

“A lot of the tech guys can use these new highways, these new information highways, to create the next frontier of humanity.”

It is unclear if the two own Bitcoin.

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Game of Thrones Star Confirms First Bitcoin Purchase to 2.7m Followers

If there was any barrier sitting between Bitcoin and its all-time high, they don’t seem to be there anymore.

The last few weeks have encountered the flagship cryptocurrency in a tireless uptrend, setting one year-to-date high after another. On Wednesday, it achieved another mettle by jumping towards $18,500, a level it last touched in January 2018 during a corrective downtrend from $20,000.

But to some analysts, the ongoing Bitcoin price rally has risks written all over it. One of them—a TradingView.com-based pseudonymous chartist—discussed those bearish possibilities in a note published earlier Tuesday. He detailed them with three technical indicators, adding that they hint Bitcoin would fall to at least $13,868 in the coming sessions.

#1 MACD Bearish Crossover

The TradingView analyst spotted a potential bearish crossover in the Bitcoin daily chart’s MACD indicator.

A bearish crossover occurs when the MACD’s 12-day exponential moving average (blue) closes below its 26-day exponential moving average (orange). Bitcoin’s 12-DMA is currently moving further north, away from its 26-DMA, but the analyst believes that there would be a crossover on the next price correction downwards.

He stressed a so-called MACD resistance. Back in 2019, the Bitcoin price topped at $13,868 while its momentum oscillator peaked near 1044. However, this year witnessed both the cryptocurrency and its MACD breaking above the said upside ceilings. As BTC/USD broke above $18,000, the MACD also jumped above 1044.

The analyst saw this as an overstretched scenario that amounted to an aggressive downside correction. Treating 2019 as his primary fractal, he noted that BTC/USD could stretch its upside to an all-time high but would fall back below $14,000 on the next sell-off.

#2 Bitcoin Price-Volume Divergence

The next bearish factor in line is the growing divergence between the Bitcoin price and its daily trading volume. Many traders agree that when an asset’s rate rises with decreasing volumes, it shows that the uptrend is losing pace. The TradingView analyst cited the same catalyst behind his downside call, stating:

“The volume has been falling while the price has been rising. This is a bearish indicator, showing that the trading activity is supporting the elevating prices at a decreasing rate.”

Bitcoin Price-Volume Divergence. Source: BTCUSD on TradingView.com

#3 The Inverse Head and Shoulder Pattern

Another signal that aimed to prove Bitcoin’s rally above $18,000 as overstretched is an inverse Head and Shoulder pattern (IH&S).

Bitcoin market outlook as of November 17, presented by MagicPoopCannon. Source: BTCUSD on TradingView.com

The analyst noted that the Bitcoin price, on November 17, achieved the breakout target of $17,100 of the said technical pattern. He anticipated that a bearish correction from the local top would crash the price towards $13,868. Nevertheless, the price rallied further towards $18,500 during the Wednesday session.

Last checked, Bitcoin was undergoing a sell-off near the new YTD high that risked an extended downside move towards $17,000. Should that happen, the breakout move above $17,000 could prove to be a fake one, validating the analyst’s call for the 2019 high retest.

SpaceX’s Crew-1 spaceship flew 4 astronauts to space yesterday. But it seems the shuttle also dragged the bitcoin and cryptocurrency market along with it. As in what happens to be a revisit of 2017, BTC smashed past the $18,000 price mark pushing the total digital asset market cap north of $500 billion.

The excitement was short-lived, however, as the cryptocurrency took a u-turn and decreased by more than $1,000 moments after touching its intraday high.

Bitcoin Price Blasts Past $18,000 Again After 3 Years, $100,000 Possible

Bitcoin seems ready for the moon mission and may have, in fact, already left the base. The top cryptocurrency just blew past the $18,000 resistance with a 10 percent jump after exactly 3 years.

The entire crypto community was awestruck at this marvelous repeat of a bullish history. Quite a lot of them expressed their disbelief/excitement on Twitter, expecting BTC to chart a higher course post this latest price feat.

woke up to bitcoin ripping through $17k

winding down the day to bitcoin ripping through $18k and on its way to $19k

at this pace, i think $20k before thanksgiving possible

what a time to be alive. i see u fam. we’re gonna make it.#Bitcoin

— Meltem Demirors (@Melt_Dem) November 18, 2020

Dan Tapiero, a reputed macro investor with more than 25 years of experience under his belt, went ahead and remarked that the current bullish bitcoin wave would make 2017 look way too small. He also added that this rally is a result of inherently strong and solid fundamentals instead of shallow speculation.

TradingView based chartist KingThies, in a brief post yesterday, reminded his readers about bitcoin repeating history all over again.

He explicitly called bulls to have a ‘$100,000 BTC at the back of their minds’. It may seem ridiculous to even assume the possibility, but ‘one has to consider the logic on what the next trend high looks like, as we approach the current all-time high of $19.5k’. King commented:

Sure there will be blood in the water by the time it happens, and many will be in disbelief when it does, but the overall train of thought I have is almost conservative compared to her explosive history of 4,000% or 1,500% returns in a matter of months. That said, as we near ATH, 500% from current ATH is absolutely realistic.

This was also in line with what CryptoPotato reported yesterday. As mentioned, it only took BTC about six days since it broke $17K to reach its ATH back in 2017.

The Excitement Was Shortlived

The moon mission, however, will have to wait. In a sudden twist of events, bitcoin’s price did what it usually does best, and it took a u-turn. In about 20 minutes, the price had lost over $1,000, going from a high of around $18,500 all the way down to $17,230.

At the time of this writing, BTC has recovered a bit and is trading at around $17,620.

Cryptocurrency Market Cap Tops $500 Billion First Time Since 2017-18

Bitcoin’s latest ‘rocketesque’ flight pushed the aggregated cryptocurrency market valuation north of the $500 billion level. This is the first time that digital assets became valuable after almost 3 years of rallies and brutal drawdowns.

What’s interesting is that bitcoin is the only cryptocurrency (and a few other altcoins) that is dangerously close to securing its previous all-time high of $20,000. Many other cryptocurrencies haven’t even claimed back 50 percent of their losses after dropping drastically after the 2017 rally.

This points to the implied fact of aggressive institutional involvement in the bitcoin market, which has, in turn, led it to rise from the ashes like a phoenix and compete head-to-head with other safe-haven assets like and gold and traditional fiat investment options.

• Bitcoin overcomes two distinct hurdles in less than 48 hours to trade at levels not seen since early 2018.
• Bulls ignore overbought conditions and they relentlessly fight for a break above $18,000.

The flagship cryptocurrency is focused on ascending to all-time highs, preferably before November ends. BTC closed in on $17,000 on Monday but hit a wall at $16,895 as reported. The bell whether cryptocurrency stalled to confirm support above $16,500 before it resumed the uptrend.

The bullish leg above $17,000 happened in successive bullish candlesticks, giving bulls complete control over the price. BTC spiked towards $18,000 but hit a new yearly high at $17,879. Bitcoin has not exchanged hands at this level since early 2018.

At the time of writing, Bitcoin is trading at $17,700, as buyers fight to resume the uptrend. The Relative Strength Index (RSI) already highlights overbought conditions, suggesting that a reversal is likely in the near term.

BTC/USD 4-hour chart

On the downside, higher support, perhaps above $17,500 will ensure that Bitcoin holds firmly to the gains accrued since Monday. Moreover, buyers will have ample time to plan the next key mission of breaking the hurdle at $18,000. It is worth noting that with $18,000 in the rearview, investors can begin to be certain that Bitcoin will achieve new yearly highs before the end of the year.

Despite overbought conditions and the obvious signs of a reversal, BTC/USD is largely in the hands of the bulls. The bullish outlook is reinforced by Bitcoin price trending upwards above the 50 Simple Moving Average, 100 SMA and 200 SMA. For now, the path with the least resistance remains upwards. However, the anticipated correction might seek refuge at $16,100, $15,400 and $14,000.

Bitcoin Intraday Levels

Spot rate: $17,727

Relative change: 54

Percentage change: 0.3%

Trend: Bullish

Volatility: Expanding