Bitcoin 4 Hour Price Update
Updated September 06, 2020 03:17 PM GMT (11:17 AM EST)
The end of a 4 four-hour candle positive run has come for Bitcoin, which finished the last 4 hour candle down 0.72% ($73.79). Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 2nd since the last 4 hour candle in terms of percentage price change.
Bitcoin Daily Price Recap
Bitcoin entered today at $10167.97, down 2.86% ($299.36) from the previous day. The change in price came along side change in volume that was down 14.62% from previous day, but up 155.92% from the Saturday of last week. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 2nd since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin.
Bitcoin Technical Analysis
Notably, Bitcoin crossed below its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 30 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For additional context, note that price has gone down 6 out of the past 10 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin:
- From 1eggwhite:
I did buy some bitcoin in 2013 and it went from like $10 to $700 after my ex ruined my life in 2016. Bought hella packs from Cali and flipped them bitches for stacks. Feds can’t do shit now LMAO fuck the feds fr. That was good dope too. God bless America, bring it back
- From Breedlove22:
Every lifetime is strictly finite. By trading our time, we gain the ability to accomplish greater results with the same efforts.Money is the tool that best mediates the trading of time.#Bitcoin is the only money that exhibits perfect fidelity to the absolute scarcity of time.
- From Erikcason:
There was somebody (or bodies) out in the world who is/was Satoshi Nakamoto.That person not only had the courage to create and release Bitcoin, but they have the extraordinary magnanimity to do it anonymously and not for profit. I feel thankful that such a person has existed
For a longer news piece related to BTC that’s been generating discussion, check out:
According to the University of Cambridge’s Centre for Alternative Finance (CCAF), Kazakhstan accounts for over 6% of Bitcoin’s global hash rate as of April 2020 – making the country the fourth-largest Bitcoin mining hub after China, the US, and Russia….”Kazakhstan has definitely been one of the fastest-growing countries for Bitcoin mining over the past few years,” Thomas Heller, chief operating officer at Bitcoin mining and media company HASHR8, told the BTC Times. “There is an abundance of cheap, coal power that is available for mining – hundreds of megawatts,” Heller added.