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Crypto update: BTC and crypto price rises. BTC, ETH and Edward Snowden

By now the US financial markets have closed again. For us, the moment to check the live Bitcoin price and the prices of the top 25 crypto. Then we have updates on Bitcoin, Ethereum, Rio de Janeiro and the crypto influence of Edward Snowden.

We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.

Live Bitcoin price rises, prices top 25 crypto exchange

At the time of writing, the live Bitcoin price is quoting EUR 36,259.02 ($39,100.33). This is 2.05% higher than during our crypto update last night.

The prices of the top 25 crypto are also largely positive, although not every coin is out of the red yet. The biggest loss of the day is currently for Near Protocol (NEAR) at -3.71%. The biggest gain of the day so far is for Cosmos Hub (ATOM) at +5.35%. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.

Bitcoin bullish, but crypto correction imminent in short term

One of the reasons investors are bullish on Bitcoin is that a law has been passed in the Senate of Brazil to establish the legal position of Bitcoin and crypto. This brings legalization of Bitcoin’s status in sight, although no recognition as legal tender is to be expected (as is the case in El Salvador). We discussed the Brazilian crypto law in detail earlier.

Still, the rebound of the BTC price is not yet an immediate reason to rejoice and that has everything to do with the Bitcoin weekly and monthly options that expire tomorrow (Friday) at 10 am Dutch time. Depending on the price at that time, the bears (with put options) or the bulls (with call options) can register a hefty profit. Depending on the price at 10 am the distribution will be as follows:

Bitcoin price between $37,000 and $39,000: 600 calls vs. 9,800 puts. The net result is then $350 million for the bears.
Bitcoin price between $39,000.00 and $40,000.00: 1,500 calls vs. 8,300 puts. The net result is then $260 million for the bears.
BTC price between $40,000.00 and $41,000.00: 3,400 calls vs. 5,600 puts. In this case, the net result for the bears is $90 million.
BTC price between $41,000.00 and $42,000.00: 4,100 calls vs. 4,700 puts. This still yields a net result of $30 million for the bears.

Now that Bitcoin is trading above $39,000 again due to today’s price increase, the bears have an interest in pushing the price below $39,000. They will then earn an additional $90 million. So it will be exciting for investors and the Bitcoin price.

If you want to see for yourself how this battle is going, you can of course take a look at a specialized options exchange. Our colleagues at Tradeincrypto.com wrote an introduction to Huobi Exchange for that purpose.

Ethereum (ETH) can expect price swings on its way to records as a crypto collateral

Much has been said about the transition of Ethereum (ETH), but the upcoming developments towards the Merge and PoS as block-verification continue to keep analysts busy.

The current Ethereum (ETH) price is $2,886.24 which is 1.46% higher than yesterday around this time. As you can see in the analysis below, analysts expect a further rise in the near term as whales smell a buying opportunity.

Bloomberg Intelligence experts foresee a bright future for Ethereum (ETH) in the long term. They believe that the currency will develop as the first choice when it comes to digitalization and innovation. This will give the coin the designation of crypto collateral. This, according to the same experts, will lead to new record rises.

However, the danger, according to them, lies in the Ethereum price in the medium term. Indeed, one does not exclude that teething problems with Merge and novelty of the transformation to PoS may first lead to a price drop that brings the coin back to $ 1,700. This is, of course, a large price drop, but relatively speaking, it is not too bad. After all, this $1,700.00 is also the price that was on the board last summer.

Whistleblower Edward Snowden steps forward as one of the developers of ZCash (ZEC)

In 2016, 6 individuals launched a new privacy crypto currency, the ZCash (ZEC). It would operate completely anonymously and based on mathematical calculations. This meant that no human being had to participate and therefore there was much less chance of manipulation.

To make this happen, some 2 billion in ZCash had to be activated manually first. This would be done by the 6 founders. The founders remained anonymous at first, but 5 of them soon stepped out of anonymity and stepped forward. The sixth person always remained hidden behind his alias John Dobbertin. This masquerade lasted until today.

Indeed, today the famous and infamous whistleblower Edward Snowden announced that he was hiding behind the illustrious pseudonym. You can of course watch the interview with Snowden’s explanation here.

Investors don’t seem to be forming an opinion about the revelation. The live ZCash (ZEC) price of $ 148.60 is 0.73% lower than yesterday.

Want to stay in the King’s Day mood a little longer? Then don’t forget to read about the shocking adventures full of abuse, fraud and worry of our Orange in Bitcoin. We will of course be back tomorrow with a new Bitcoin and crypto update.

Want to stay up to date with the latest price developments?

You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”

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