Bitcoin (BTC) Up $148.55 Over Past 4 Hours, Entered Today Up 11.59%; in a Downtrend Over Past 30 Days

Bitcoin 4 Hour Price Update

Updated March 24, 2020 05:34 AM GMT (01:34 AM EST)

Bitcoin is up 2.28% ($148.55) since the previous 4 hours, marking the 4th candle in a row an increase has occurred. Bitcoin outperformed all 5 assets in the Top Cryptos asset class since the previous 4 hours. Congrats to its holders!

Bitcoin Daily Price Recap

Bitcoin enters today at 6503.53 in US dollars, up 11.59% ($675.38) from the previous day. The change in price came along side change in volume that was up 46.08% from previous day, but down 32.99% from the Monday of last week. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 2nd since the previous day in terms of percentage price change. The daily price chart of Bitcoin below illustrates.

Bitcoin Technical Analysis

Notably, 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 14 days Bitcoin’s price has gone up 8 them. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 30 day time periods

Overheard on Twitter

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

  • From RussellOkung:

    Think of it less in terms of the “price of bitcoin” and more in terms of the “exchange rate between BTC & USD”Now consider what happens as the supply of bitcoin remains fixed (21M) while the supply of dollars becomes infinite.

  • From Bitcoin:

    “Fed Announces Unlimited QE”This is why Bitcoin was created.

  • From Vis_in_numeris:

    ∞ dollars
    ∞ euros
    ∞ yuan
    ∞ pounds
    ∞ yen
    ∞ won
    ∞ ruble
    ∞ rupee
    ∞ franc21,000,000 bitcoin

In terms of news links for Bitcoin here’s one to try:

Tezos Foundation Offloaded Millions of Dollars Worth of Bitcoin in 2019: Report – CoinDesk

Per the report, the Tezos Foundation, which is based in Switzerland, held approximately $397.7 million worth of bitcoin on July 31, 2019….See also: Vertalo to Tokenize 22 Securities Worth $200M on Tezos Blockchain The total value of the foundation’s portfolio fell from $652 million on July 31 to $625 million by Jan.