Bitcoin (BTC) Down $45.26 in Last 4 Hours, Outperforms All Top Cryptos to Start the Day; Moves Up For the 3rd Day In A Row

Bitcoin 4 Hour Price Update

Updated April 02, 2020 05:35 AM GMT (01:35 AM EST)

6618.37 (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 0.68% ($45.26) 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 up 3.74% ($240.02) since the previous day, marking the 3rd day in a row it has gone up. The change in price came along side change in volume that was up 61.45% from previous day, but down 33.39% from the Wednesday of last week. On a relative basis, the previous day was pretty good: Bitcoin bested all 5 of the assets in the Top Cryptos class 🙂 Below is a daily price chart of Bitcoin.

Bitcoin Technical Analysis

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 down. For another vantage point, consider that Bitcoin’s price has gone up 8 of the previous 14 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From CryptosBatman:

    BREAKING:
    Russia and China have decided to use Bitcoin for all international trades, to mitigate USA’s power position with the USD!This action comes into effect from September 1st 2020.WOW! 😮$BTC #BITCOIN #BTC

  • From pierre_rochard:

    I was pretty pessimistic about the future before figuring out Bitcoin. I can’t imagine how pessimistic I would be today if it wasn’t for that chance encounter. Even in the darkest of times I’m hopeful that Bitcoin will reform our civilization to be more just and resilient.

  • From hodl_american:

    I’m out. I just can’t take it anymore. I sold everything at this last drop to $6200. Some have said we’re going back to $1,000. I’m afraid it’s worse. In my opinion we’re going all the way back to $200. Bitcoin is dying. Wake up. Get out while you still can. It’s over.

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

Modeling Bitcoin’s Value with Scarcity – PlanB – Medium

That’s why ‘halvings’ are very important for bitcoins money supply and SF….What is very interesting is that gold and silver, which are totally different markets, are in line with the bitcoin model values for SF….The predicted market value for bitcoin after May 2020 halving is $1trn, which translates in a bitcoin price of $55,000….We can also model bitcoin price directly with SF….I plotted bitcoin model price based on SF (black) and actual bitcoin price over time, with the number of blocks as color overlay….Adding confidence in the model: The model predicts a bitcoin market value of $1trn after next halving in May 2020, which translates in a bitcoin price of $55,000.