Bitcoin (BTC) Price Near $11,484.47; Heads Up For the 6th Consecutive Day

The Hourly View for BTC

Last Updated October 13, 2020, 01:036 GMT

Currently, BTC’s price is down $-11.72 (-0.1%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as BTC has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Bitcoin Daily Price Recap

Bitcoin closed the previous day up 1.44% ($164.25); this denotes the 6th consecutive day it has gone up. As for how volume fared, yesterday’s volume was up 136.76% from the previous day (Sunday), and up 86.97% from Monday of the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 2nd since the previous day in terms of percentage price change. Below is a daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Bitcoin’s price has gone up 8 of the previous 10 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin:

  • From APompliano:

    Young people understand the future:- Automation
    – Robotics
    – Electric vehicles
    – Clean energy
    – Space exploration
    – Machine learning
    – Artificial intelligence
    – BitcoinOne of the best investing strategies is to simply follow where young people are spending their time.

  • From danheld:

    Hard not to be bullish about Bitcoin right now:- ATH number of addresses with any balance
    – ATH number of daily active addresses
    – $10k feels like a floor
    – Shook off very negative news
    – Corporate treasuries buying
    – Large macro traders embracing it as Gold 2.0

  • From funshographix:

    #SARSMUSTEND Struggle isn’t for Yahoo guys. EFCC is there for those ones. The fight is for those SARS harassing, killing & exploiting the youths with locs, youths with tattoos, youths doing bitcoin, youths using cars. Just becauae Nigeria is hard doesn’t mean we shouldn’t be rich

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

Ripple Executive Says SEC Gave Bitcoin and Ethereum a Pass, but Other Crypto Assets Unwelcome in the US | The Daily Hodl

Speaking at the LA Blockchain Summit, the Ripple co-founder worries that the US is in danger of losing its position at the helm of the global financial system….“Unfortunately, I just think the US is woefully behind in kind of stepping up to what is going to be the next generation of the global financial system.