Bitcoin (BTC) Down $153.21 Over Past 4 Hours, Started Today Up 2.88%; Crosses 100 Day Moving Average

Bitcoin 4 Hour Price Update

Updated September 05, 2020 11:17 AM GMT (07:17 AM EST)

Bitcoin came into the current 4 hour candle down 1.47% ($153.21) from the open of the previous 4 hours, marking the 4th consecutive candle a decline has happened. On a relative basis, the previous 4 hours were pretty good: Bitcoin bested all 5 of the assets in the Top Cryptos class 🙂

Bitcoin Daily Price Recap

The back and forth price flow continues for Bitcoin, which started today off at 10467.33 US dollars, up 2.88% ($292.71) from the day prior. The change in price came along side change in volume that was down 37.14% from previous day, but up 59.32% from the Friday of last week. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 4th for the day in terms of price change relative to the day prior. Let’s take a look at the daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Bitcoin crossed above 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. For additional context, note that price has gone up 5 out of the past 10 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 mike_maloney:

    @tylerwinklevoss By the way, #Bitcoin can’t exist without gold. Every single computer required to run the network, miners, cellphones, routers, hardware wallets – all require gold. Now, I love #Bitcoin , but you guys need to stop positioning gold as an adversary. We are on the same team.

  • From saifedean:

    I explained to him why eth is a stupid scam and how he’s just being dumped on. He changed his mind and put the money in bitcoin.Today he called to inform me the shitcoin has tanked into oblivion, while his bitcoin is up 10%.Real friends don’t let their friends shitcoin!

  • From adam3us:

    @rogerkver Unimaginable I’d be shorting that fork. WTH is this recursive forking – a social club for people who don’t get along with other people? You made this mess, keep me out of it. Better yet dump it all for BTC, learn the market lesson: Bitcoin is a commodity NO ONE can force change.

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

Soft Bank’s Masayoshi Son Lost $130 Million After Buying Bitcoin At The Top | Zero Hedge

Masayoshi Son reportedly made the ill-fated bitcoin bet at the urging of Fortress co-chairman Peter Briger….Mr. Son was encouraged to make the investment by Peter Briger, the co-chairman of asset manager Fortress Investment Group, the people said.