Bitcoin (BTC) Price Near $34,256.41; in an Uptrend Over Past 90 Days, Moves Down For the 4th Consecutive Day

The Hourly View for BTC

Last Updated January 13, 2021, 03:016 GMT

Currently, Bitcoin’s price is up $1252.19 (3.79%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bitcoin Daily Price Recap

Bitcoin closed the day prior down 4.05% ($1437.63); this denotes the 4th consecutive day a decline has happened. The price move occurred on volume that was down 50.63% from the day prior, but up 31.66% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 5th since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Bitcoin’s price has gone up 9 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Bitcoin for the past day were:

  • From CryptoCobain:

    Institutions are allocating parts of their balance sheet to crypto and you think ETH won’t even break it’s 2017 all time high and that bitcoin’s all time high will be only 2x the last one.You are a bear, you will be erased from the gene pool on the citadel.

  • From PeterSchiff:

    As long as people don’t realize or don’t care that #Bitcoin has no actual value, and continue to buy it anyway, its price can continue to rise. But eventually those who don’t care will start caring, and those who don’t understand will figure it out. By then it’s too late to sell.

  • From tyler:

    #Bitcoin is gold 2.0. Ether $ETH is decentralized Amazon cloud computing. @Filecoin $FIL is decentralized Amazon cloud storage. Zcash $ZEC is decentralized, private money. $DAI is a decentralized stablecoin. All of the pieces of the decentralization movement are coming together.

In terms of news links for Bitcoin here’s one to try:

Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes – The New York Times

The password will let him unlock a small hard drive, known as an IronKey, which contains the private keys to a digital wallet that holds 7,002 Bitcoin….With traditional bank accounts and online wallets, banks like Wells Fargo and other financial companies like PayPal can provide people the passwords to their accounts or reset lost passwords….That year, he lost the digital keys to the wallet holding the Bitcoin….Since then, as Bitcoin’s value has soared and fallen and he could not get his hands on the money, Mr. Thomas has soured on the idea that people should be their own bank and hold their own money….Mr. Thomas said he also managed to hold on to enough Bitcoin — and remember the passwords — to give him more riches than he knows what to do with.