Bitcoin 4 Hour Price Update
Updated March 27, 2020 07:17 AM GMT (03:17 AM EST)
Bitcoin is down 1.36% ($92.48) since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 5 four-hour candle positive run. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 2nd for the four-hour candle in terms of price change relative to the last 4 hour candle.
Bitcoin Daily Price Recap
The back and forth price flow continues for Bitcoin, which started today off at 6757.95 US dollars, up 0.95% ($63.74) from the previous day. This move happened on lower volume, as yesterday’s volume was down 46.65% from the day before — and down 65.22% from the same day the week before. Those trading within the Top Cryptos asset class should know that Bitcoin was the worst performer in the class during the previous day. 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. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things 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 tylerwinklevoss:
Bitcoin is the only vaccine in the world that can give you immunity to the money printing disease.
- From PeterSchiff:
Congratulations Bitcoin hodlers. It looks like #Bitcoin may actually be living up to its status as a non-correlated asset after all. Every asset class is rallying today except Bitcoin!
- From ZubyMusic:
The same people who tell me that bitcoin is ‘worthless’ don’t question how the US government is just printing 6 TRILLION DOLLARS…Magic.Don’t mind me though. ☕
For a longer news piece related to BTC that’s been generating discussion, check out:
It is the fragility of the global financial system itself that is the problem, not a global pandemic….And the economic dependence on credit as well as the high degree of system leverage are not a natural function of either capitalism or a free market….Every time the system as a whole attempted to deleverage, central banks worked to prevent it through monetary stimulus, ultimately kicking the can down the road and allowing decades of economic imbalance to accumulate in the credit system….Increasingly, with each monetary stimulus injected into the legacy financial system, bitcoin’s core value function will become more apparent and more intuitive to more people….The accumulation of sustained credit system imbalances (induced by central banks) is the inherent source of fragility in the global economy today….In a market built on the foundation of a currency that cannot be manipulated, as soon as imbalances arise, economic forces will naturally course correct, preventing the system-wide and systemic credit risk that plagues the legacy financial system.