FinTech Metrics | 11.15.2021

Published in

BCISTCenter

4 min readNov 15, 2021

Social Media: LinkTree

Nearly half of millennial Americans (ages 25–40) are at least somewhat comfortable investing in these new digital assets, including Bitcoin.

Further Reading: Redeye FinTech Report 2021

Latest Headlines

According to the agreement between Litecoin and Visa, it is now possible to pay with Litecoin in places that pay with Visa.
Infura, a blockchain development tool from ConsenSys, now has over 350,000 users for its service to connect to Ethereum and build dapps.
JPYC, the issuer of a Japanese yen-pegged stablecoin, has raised $4.43 million in a Series A round.
Spain’s banking giant Santander is in the process of launching the first Bitcoin ETF in the country due customer demand.
The Central Bank of Nigeria announced that the digital wallet for its digital currency, the eNaira, has been downloaded 488,000 times in 160 countries — in just 19 days after its launch.

Technical Analysis

BITCOIN [BTC] — 64,449.93 USD

The price of Bitcoin, which gained about 0.43 percent in the morning hours, is at $ 65,831. Bitcoin’s highly anticipated upgrade, Taproot, has finally been activated and is intended to provide better scalability, privacy and security on the network by allowing developers to integrate new features.

When we examine the BTC/USDT parity technically, Bitcoin, which continued its price movement within the rising channel that existed as of July 20, found support at the channel middle band in the weekend and the region close to the important support level of $ 63,000. In BTC, which started the week positively, although the daily metrics have not yet given a buy signal, 4-hour metrics give a buy signal. We expect the positive trend to continue. While the first price target is $69,000, which is the historical high, the level of $ 76,000, which corresponds to the upper band of the channel, can be determined as the next target level.

Resistance Levels: 66.757 / 67.713 / 69.293
Support Levels: 64.221 / 62.641 / 61.685

ETHEREUM [ETH] — 4,632.27 USD

The price of Ethereum, which gained about 1.90 percent in the morning hours, is at $ 4714. The amount of ETH held on exchanges continues to decrease every day. When we look at the on-chain data metrics provided by Glassnode, the amount of ETH held on exchanges makes up only 11.83 percent of all ETH in circulation.

When we examine the ETH/USDT parity technically, the price movement continues within the ascending channel that has existed since the first day of October in the 4-hour period. Having regressed to the level of $4550, which coincides with the lower band of the channel, yesterday, ETH, with the support it found at this level, broke the downward trend that existed as of November 10. It is seen that a buy signal comes from the MACD in the 4-hour period. Our first price target for ETH, which we think will continue its intra-channel price movement, is the $4870 level, which coincides with the channel middle band.