Bitcoin 4 Hour Price Update
Updated May 21, 2020 01:34 AM GMT (09:34 PM EST)
9520.37 (USD) was the opening price of the four-hour candle for Bitcoin, resulting in the last 4 hour candle being one in which price moved down 0.13% ($12.48) from the last 4 hour candle. On a relative basis, Bitcoin was the worst performer out of all 5 of the assets in the Top Cryptos asset class during the last 4 hour candle.
Bitcoin Daily Price Recap
Bitcoin is down 2.77% ($270.75) since the previous day, marking a reversal from the day prior — and the end of a 4 day positive run. The change in price came along side change in volume that was up 1.07% from previous day, but down 4.55% from the Wednesday of last week. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 3rd since the previous day in terms of percentage price change. The daily price chart of Bitcoin below illustrates.
Bitcoin Technical Analysis
Coming into today the current price of Bitcoin is sitting close to its 20 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 been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For additional context, note that price has gone up 20 out of the past 30 days.
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 tylerwinklevoss:
The Internet has made it possible for you to become your own broadcaster and media empire (e.g., @joerogan). Bitcoin allows you to become your own bank. I love the freedom and independence that technology can bring to the world.
- From BTC_Macro:
Bitcoin went from $200 to $20k.Then it dumped from $20k to $3k.Then Bitcoin pumped from $3k to $14k.Then it dropped from $10k to below $4k within 24 hours.Do normies really think we’re still scared of anything?Fucking amateurs. Go back to your government bonds!
- From giacomozucco:
The actual news is not that Craig Steven Wright finally received his keys via bounded courrier and is now dumping his millions of BTC, finally killing Bitcoin Core for good. The actual news is that he changed his mind about SegWit, since he’s using native SegWit outputs. /S
As for a news story related to Bitcoin getting some buzz:
Your ad here by Jeffrey Gogo Grayscale Investments bought up to 33% of all newly minted bitcoin over the last three months, as the asset manager continues to stockpile major cryptocurrencies….The investment fund added 60,762 BTC to its Bitcoin Trust Fund between February 7 and May 17, a researcher posted on Reddit….$2 Billion Cryptocurrency Hedge Fund Industry Set to ‘Grow Significantly’ Cryptocurrency hedge funds’ assets under management have been increasing significantly, rising to more than $2 billion at the end of last year, according to a recent survey….Grayscale Buys 33% of All Bitcoin Mined in Last Three Months Grayscale Investments bought up to 33% of all newly minted bitcoin over the last three months, as the asset manager continues to stockpile major cryptocurrencies….The investment fund added 60,762 BTC to its Bitcoin Trust Fund between February 7 and ……Retail Investors Branch to Altcoins: ‘60% of Coinbase Customers Start With Bitcoin, Only 24% Stick Exclusively’ On May 13, the San Francisco-based cryptocurrency exchange, Coinbase published a report that shows digital currency investors are investing in alternative cryptocurrencies despite bitcoin’s 67% market dominance.