Bitcoin (BTC) Underperforms All Top Cryptos; 5 Day Up Streak Broken

Bitcoin Price Recap

Bitcoin is down 1.11% since yesterday, marking a reversal from the day prior — and the end of a 5 day positive run. The price move occurred on stronger volume; specifically, yesterday’s volume was up 13% from the day prior, and up 23.8% from the same day the week before. Those trading within the Top Cryptos asset class should know that Bitcoin was the worst performer in the class. Let’s take a look at price chart of Bitcoin.

Bitcoin Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 16 out of the past 30 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 PeterXinping:

    Guys In Cryptocurrency Twitter Always On Here Trying To Speculate On Some Bitcoin. How About You Speculate On Some HOES Instead.

  • From danheld:

    It’s risky to not own Bitcoin.

  • From JWilliamsFstmed:

    You can suspend @Apompliano’s twitter, but you can’t suspend Bitcoin

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

Digital Gold, Scarcity, and Bitcoin Halvings – The Coinbase Blog

At the time of writing, one bitcoin can buy over 5.5 ounces of gold, at a current Bitcoin price of ~$8.5k….Bitcoin is scarce like gold….Today, approximately 18 million bitcoins exist and new bitcoins are supplied at a rate of ~3.6% annually….When Bitcoin’s new annual supply rate is 1.7% after the next Halving, bitcoin’s stock to flow will also be ~58….Compared to gold, Bitcoin is significantly more volatile….At the same time, Bitcoin development is accelerating and has already proven a myriad of advantages over precious metal: So what gives assets like gold or Bitcoin value in a world without pegged exchange rates?