LOEx Market Research Report on November 19: BTC broke through 18,000 points

3 min readNov 19, 2020


[Today’s Hot Tips]

1. [Grayscale BTC Trust increased its holdings by 1773 BTC, and Grayscale LTC Trust holdings increased by 3.69%]

The AICoin index shows that on November 17, Eastern Time, Grayscale BTC trust holdings increased by 1773 BTC, an increase of 0.35%, and the total holdings reached 515,166 BTC. Grayscale ETH trust holdings increased by 0.06% to 2585098 ETH.

At the same time, Grayscale LTC Trust’s total holdings amounted to 815494 LTC, an increase of 3.69%. In addition, Grayscale BCH Trust and ETC Trust both reduced their holdings by 0.01%, reducing their holdings for 3 consecutive days.

2. [Three giants such as BNP Paribas use ETH and Tezos technology to explore digital asset settlement business]

According to news from AMBCrypto on November 19, BNP Paribas, French CA CIB bank and French investment company, Caisse des Depots, announced the joint launch of a project to explore digital interbank currency (DIBC). The project chose to use Ethereum and Tezos blockchain technology to explore how to settle financial transactions involving digital assets on the platform. The project is expected to be completed in 2021.

3. [Vitalik Buterin: ETH 2.0 will soon significantly improve the performance of the Ethereum network]

Recently, at an AMA hosted by the research team of the Ethereum Foundation on Reddit, Vitalik Buterin said that the benefits of ETH 2.0 will emerge sooner than people expected, and hope that the network will be significantly improved sooner.

[Today’s market analysis]

Bitcoin (BTC)BTC basically oscillated around 17,700 USDT in the early morning. After breaking through 18,000 in the morning, BTC dropped again. Other mainstream currencies rose across the board in the day. BTC is currently trading at 17,927.39 USDT on LOEx Global, an intraday increase of 0.24%.

Our view of this wave of quotations is that the presence of institutions has brought new vitality to the market. Moreover, the strength of this round of the market is greater than that of any previous year, whether it is the increase of Gray’s holdings, whether various compliance agencies apply to the SEC to open bitcoin trading permissions, or the establishment of a new cryptocurrency trading fund, both are the main upward momentum for this round.

This wave of rising is actually not as fast as imagined, and it is relatively stable. Pull up, organize for a while, and then continue to pull. At present, there is no parabolic market, and it is still quite healthy.

This is an investment with a very high degree of certainty and a very clear logic. It is only in the first half of this year that such a good investment opportunity appeared. Why is this money hard to make?

Not to mention that Bitcoin has performed so well this year that it is unreasonable. Even if you hold a Bitcoin spot, it is a very stable investment. At least there is a doubling this year. If you think that Bitcoin is expensive to buy Ethereum, it is not bad at all. What is the problem?

Bitcoin this year is indeed a surprise for me, but as we said earlier, BTC may reach 18,000 or 20,000. The current market is still calm, indicating that it is healthy.

Operation suggestions:

Support level: the first support level is 17,500 points, the second support level is 17,000 integers;

Resistance level: the first resistance level is 18,000 points, the second resistance level is 18,500 points.

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