Bitcoin Price Recap
The choppiness in the recent daily price action of Bitcoin continues; to start today, it comes in at a price of 9702.48 US dollars, down 2.25% since yesterday. The price move occurred on volume that was up 32.16% from the day prior, but down 11.46% from the same day the week before. On a relative basis, Bitcoin was the worst performer out of all 5 of the assets in the Top Cryptos asset class. Here is a price chart of Bitcoin.
Bitcoin Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Bitcoin crossed below its 20 day moving average yesterday. Something else of critical noteworthiness is that Bitcoin may have broken its trend on the 14 day basis, as the trend’s momentum appears to be slowing down. Volatility for Bitcoin has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. 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 9 out of the past 14 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 PeterSchiff:
Alex Jones has capitulated. After 10 years of watching the #Bitcoin bubble inflate, at $10,000 per coin he thinks now’s the time to urge his listeners to buy. This is how manias end. Greed overwhelms reason as people once too sensible to buy join the party just as it’s ending.
- From PeterSchiff:
Alex Jones just invited @maxkeiser and me on his show to debate Bitcoin. I accepted but Max refused the invitation. So I win by default. I would have preferred an active victory, but at least this way Max can’t scream and call me names!
- From Sicarious_:
The best part about buying #bitcoin is it instantly makes you an expert on diet and nutrition, economics, pandemics, and basically all notable world events.
In terms of news links for Bitcoin here’s one to try:
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In this report we discuss three blog posts and go into detail the price action for: Bitcoin XRP DGB ETH Litecoin BitcoinCashABC A must have report….On Sale
In these two reports and the 90 minute clear Vimeo video we discuss what will happen to bitcoin and cryptos in the next 30 days – be amazed.