Bitcoin Monthly RSI and Bitcoin Plunged Overnight

Relative Strength Index is the "RSI".The so-called relative strength index is a technical indicator used in the analysis of various financial markets. It is intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent certain trading period. The important indicator should not be confused with relative strength.

The RSI is classified as a momentum oscillator, measuring the velocity and magnitude of price movements. Momentum is the rate of the rise or fall in price. The RSI computes momentum as the ratio of higher closes to lower closes: stocks which have had more or stronger positive certain changes have a higher RSI than stocks which have had more or stronger negative changes.

The RSI is most typically used on a 14-day timeframe, measured on a scale from 0 to 100. The RSI certainly provides signals that tell investors to buy when the security or currency is oversold and to sell when it is overbought.

Bitcoin Monthly RSI is interesting. The Bitcoin relative strength index is useful in identifying where Bitcoin is in a market cycle. With this in mind, see smaller time frames and then work the way up to the monthly RSI of Bitcoin to understand where we currently are in the market cycle. Try to predict where the price of Bitcoin is going.

The following Bitcoin news is from Dec. 4, 2021. Unfortunately, it seems that Bitcoin has plunged overnight. As of 10:30 am EST Saturday, the Bitcoin cryptocurrency had dropped more than 13 per cent in the previous 24 hours, from US$56,294 to US$48,309. Unfortunately, this is a loss of almost US$8,000. Bitcoin had its all-time high last month. Bitcoin reached almost US$69,000 on November 9.

The decrease of bitcoin price follows a volatile week for financial markets. The Coronavirus Omicron variant scared investors and stock market prices decreased.

Data from a certain platform (called Coinglass) showed that nearly US$1 billion worth of cryptocurrencies had been liquidated over the past 24 hours. The bulk of that was on digital exchange Bitfinex.

Many large (based on the volume) cryptocurrency exchanges exist. Here are some of the names:

Binance

Bitfinex

Bithumb

Bitstamp

Coinbase

Huobi

Kraken

OKEx

Upbit

Is the mysterious creator of Bitcoin finally about to be unmasked?

RT Channel shows the 1 million BTC question (or multi-billion) that a Miami court case might be about to answer.

Bitcoin's Trial of the Century in Miami Could Reveal the mysterious Founder and Shock the Crypto Market.

Bitcoin was launched in 2009 (a single bitcoin was priced at less than a tenth of a penny). 1 bitcoin is now worth more than $50,000.

Various people claim to have created Bitcoin. The trial is playing out in Miami. The so-called "bitcoin’s trial of the century" will result in showing whether the man who claims to have founded bitcoin had a partner.

It seems that a Miami federal judge could order 1.1 million bitcoins to be split in half - a shocking move for the crypto market.

"It’s many hundreds, thousands of wallets containing 1.1 million bitcoin that have never moved that were mined by Satoshi Nakamoto," said Kurt Wuckert Jr., a so-called Bitcoin historian of CoinGeek.

In the crypto world, Satoshi Nakamoto is the pseudonym used by the person, or people, who created bitcoin back in the late 2000s. Satoshi is estimated to hold up to 20% of all bitcoins and is thought to have written and published bitcoin’s "original plan" and protocol for cryptocurrency. However, the true identity of Satoshi is not known.

The so-called Search for Satoshi tries to find the inventor.

It seems that people cannot find Satoshi Nakamoto. He never showed his true identity. It is also possible that "Satoshi" has been dead for some time.

Will Bitcoin Reach 100K by End of the Year?

"Alessio Rastani" Channel on Youtube talks about whether Bitcoin price will reach 100K by end of the year. Take a look at the charts and graphs. Recent bitcoin surveys show that about 29% of people have a very strong expectation that bitcoin could reach 100K by end of this year, 35% have a moderate expectation of the 100K target for end of 2021 and 34% think that it is unlikely. Consider the seasonality of bitcoin. See interesting discussions.

Stock market drop on COVID-19 variant fear could be 'buying opportunity,' strategist says

"Yahoo Finance" on Youtube shows that ProShares Global Investment Strategist Simeon Hyman joins Yahoo Finance Live to discuss the outlook on inflation, retail season prospects, and if markets are reacting appropriately to the new COVID-19 variant.

Yahoo Finance shows free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.

New COVID variant has negative effect on stock market

Associated Press on Youtube shows that Stocks closed sharply lower on Wall Street Friday, after a coronavirus virus variant from South Africa appeared to be spreading across the globe and the European Union proposed suspending air travel from southern Africa. (Nov. 26)

BC floods: Environment Canada issues red-level alert as province braces for more storms

Global News in Canada shows the possibility of more storms.

Warning Preparedness Meteorologist Armel Castellan at Environment and Climate Change Canada said on Friday that the department issued a red-level weather alert for British Columbia as more storms are expected to hit the province during the weekend and upcoming week.

Castellan said the alert is particularly due to the vulnerabilities on the ground, especially in areas still recovering from previous storms.

The first red-level alert in years is being issued as two back-to-back storms are expected to hit the province. The first storm will bring heavy rainfall on Saturday and Sunday, and the second will strike next Tuesday and Wednesday.

Between 60 and 80 millimetres could fall in Gibson and the areas from Vancouver to the Fraser Valley. Up to 100 mm could fall closer to the mountains in the Lower Mainland, while Squamish could see up to 120 mm.

Canada: Maritimes soaked as "unprecedented" storm drenches Atlantic Canada

Global News in Canada shows the weather going on right now.

Canada is certainly facing extreme weather catastrophes on 2 different coasts, as an unprecedented storm lashes Atlantic Canada while British Columbia prepares for more punishing weather in the wake of a flooding disaster. Ross Lord surveys the destruction from the relentless rain in the Atlantic provinces, which also damaged another section of the Trans-Canada highway.

Despite parts of B.C. still trying bounce back from its really extreme weather disaster, the province is bracing for more damaging storms that could hamper recovery efforts. Mike Armstrong explains how people are preparing, and the calls to add another military base in the province.