Bitcoin Price Recap
The choppiness in the recent daily price action of Bitcoin continues; to start today, it comes in at a price of 9925.51 US dollars, up 0.2% since yesterday. This move happened on lower volume, as yesterday’s volume was down 9.52% from the day before — and down 20.02% from the same day the week before. Bitcoin outperformed all 5 assets in the Top Cryptos asset class yesterday. Congrats to its holders! The price chart of Bitcoin below illustrates.
Bitcoin Technical Analysis
Coming into today the current price of Bitcoin is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for Bitcoin has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days. Also, candlestick traders! Note we see pin bar
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin:
- From BTC_Macro:
In the last bull market, Bitcoin went from $6k to $20k in 34 days!People have forgotten how quickly $BTC will pump once we go parabolic again.
- From Bitcoin:
#Bitcoin is the best performing asset of the last decade, and is on track to become the best performing asset of the last 5,000 years
- From bitcoinonly2:
My goal for 2020 was always to buy 1 full bitcoin. Pretty much impossible, given my situation, but already at 0.1 bought
In terms of news links for Bitcoin here’s one to try:
In order to run, a game would have to provide a digital signature constructed from Sony’s secret key, the same kind of key that protects your bitcoin….Says Martin, the Coinbase security guy: “I am much more scared of an implementation flaw in a library than I am of a flaw in the underlying math.” Some bitcoin owners, trying to manage their own coin wallets, have made the same mistake Sony did with its game console….Encryption works by scrambling numbers….That giant number, kept secret, is the key that unlocks a bitcoin….In the case of RSA, it’s finding the two numbers that were multiplied together to arrive at the modulo; in the case of ECC, it’s dividing the end point by the starting point to determine the multiplier….Quantum computers Computers using quantum effects could, in theory, shrink the time for decoding an encrypted message from billions of years to hours.