Bitcoin (BTC) Down 0.92%; in an Uptrend Over Past 14 Days

Bitcoin Price Recap

Bitcoin enters today at 8106.56 in US dollars, down 0.92% from the day prior. The price move occurred on volume that was up 29.71% from the day prior, but down 47.65% from the same day the week before. Bitcoin outperformed all 5 assets in the Top Cryptos asset class yesterday. Congrats to its holders! Below is a price chart of Bitcoin.

Bitcoin Technical Analysis

Coming into today the current price of Bitcoin is sitting close to its 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for Bitcoin has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days Bitcoin’s price has gone up 16 them.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From _blockandchain_:

    Bitcoin is gold.Litecoin is silver.XRP is shit.

  • From BlockBytch_:

    Today was the first time *ever* that a fellow banker came over to my desk and asked me how they can buy bitcoin.Never been more bullish.

  • From Bitcoin:

    The Bitcoin network has been functional for 99.98% of the time since its inception.That is better uptime than every tech company over the last 10 years.

For a longer news piece related to BTC that’s been generating discussion, check out:

CME Takes Its Bitcoin Options Live, Competing With ICE’s Bakkt – CoinDesk

Bitcoin derivatives have been available on multiple cryptocurrency exchanges since at least 2014, but CME was one of the first platforms to offer investors regulated products when it first launched its cash-settled bitcoin futures in December 2017….CME revealed plans to launch bitcoin options days before the launch of Bakkt’s bitcoin futures in September.