BTCNEXT Exchange Update #47

While the crypto market is preparing for the next big move, we’re making the BTCNEXT Exchange better day by day. The last two weeks were full of important updates. Check them out below!

Financial markets

Gold finished the previous week solidly above the $1,800 level, marking the yellow metal’s best weekly close since late August. More importantly, gold may be breaking out of a larger consolidation pattern that has been in force since prices peaked in August of last year.

Oil is not doing as well, the Brent price dropped from $85 to below $81 in 5 days. It seems like raw materials have reached the highest price point and are ready for a correction.

Key indices are growing in price. The S&P 500 is now trading at $4,682. The Dow Jones climbed to the $36,100 mark.

Crypto market

The crypto market capitalization increased +0.2% over the last 7 days. LTC grew more than the others: +28.5% in one week. DOT dipped the most by -11,2%. The QDAO went down by -0.2%, BNX rose by +0.3%, NOAHP dipped -27.2%.

Bitcoin has conquered a new ATH at $69,000 and now is preparing for another rally. The price has been stuck in a sideways movement with small pullbacks. The next big target is $74,000, which could happen in one week. According to the Stock-to-Flow model, BTC must reach $93,000 in November. As of now, we could potentially drop to the $56,000-$58,000 area before the next run. Despite the uncertainty with altcoins, their season is still to come!

BTCNEXT Exchange update

The BTCNEXT team is doing its best to provide users with the best trading experience. We keep improving our exchange, week by week!

Daily volumes and statistics on BTCNEXT Exchange:

• BTC — $20.8m
• ETH — $13.7m
• ADA — $9.6m
• BNX — $80,000
• NOAHP — $1,000
• QDAO — $2,000
• The total average daily volume on the exchange is $73.2m.

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