Bitcoin 4 Hour Price Update
Updated August 02, 2020 07:17 AM GMT (03:17 AM EST)
Bitcoin’s 3 four-hour candle positive streak has officially concluded, as the candle from the last 4 hour candle closed down 5.54% ($664.25). Bitcoin outperformed all 5 assets in the Top Cryptos asset class since the last 4 hour candle. Congrats to its holders!
Bitcoin Daily Price Recap
Bitcoin closed the day prior up 4.05% ($459.7); this denotes the 4th day in a row an increase has occurred. As for how volume fared, yesterday’s volume was up 21.89% from the previous day (Friday), and up 217.72% from Saturday of the week before. Those trading within the Top Cryptos asset class should know that Bitcoin was the worst performer in the class during the day prior. The daily price chart of Bitcoin below illustrates.
Bitcoin Technical Analysis
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 10 days Bitcoin’s price has gone up 8 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 GregMannarino:
Too funny. At Bitcoin $2,700 I told people to buy, of course I got ridiculed and told it was going to zero. Now here we stand at $11,750 -so tell me again how its going to zero? And tell me about the central bank issued currency you hold/transact in and how that’s better?
- From tylerwinklevoss:
There are times on the #Bitcoin journey that can be lonely. Your friends think you’re crazy, people ridicule you. But we’re entering a time period when again Bitcoiners will be considered the smartest people in the room.
- From hodl_american:
Everybody thinks they can dump the next top. You haven’t learned shit. Bitcoin will be crushing so hard next top you’ll literally be afraid to dump back to USD. You’ll be thinking “this is it, hyperbitcoinization is upon us” and you’ll end up hodling all the way down again.
As for a news story related to Bitcoin getting some buzz:
Source: Bloomberg PlanB, the well-known creator of the contested stock-to-flow (S2F) model, believes Bitcoin (BTC) is now well on track to reach $100,000 as the price has risen to yearly highs….In the short term, as Bitcoin sees a profit-taking rally from altcoins, some investors expect BTC to outperform altcoins….Will take the wind out of alts again short term.” The pattern of a Bitcoin rally following a strong altcoin season is not new….Bets should be on strength always showing up.” For some traders, a short against Bitcoin could be attractive because BTC has increased steeply in the past week and is testing major resistance levels. A 17% rally in six days — even during a bull market — is substantial, even for Bitcoin.