Bitcoin 4 Hour Price Update
Updated September 17, 2020 11:19 PM GMT (07:19 PM EST)
Bitcoin came into the current 4 hour candle up 0.12% ($12.76) from the open of the previous 4 hours, marking the 2nd candle in a row an increase has occurred. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 3rd since the previous 4 hours in terms of percentage price change.
Bitcoin Daily Price Recap
Bitcoin closed the previous day up 1.58% ($170.4); this denotes the 3rd day in a row it has gone up. As for how volume fared, yesterday’s volume was up 0.92% from the previous day (Tuesday), and up 7.54% from Wednesday of the week before. Bitcoin outperformed all 5 assets in the Top Cryptos asset class since the previous day. Congrats to its holders! The daily price chart of Bitcoin below illustrates.
Bitcoin Technical Analysis
First things first: Bitcoin crossed above its 20 day moving average yesterday. Volatility for Bitcoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen on the 14 day timeframe. If you’re looking to trade the primary trend, this may be a good opportunity to sell rallies created by the counter trend. Or to view things another way, note that out of the past 14 days Bitcoin’s price has gone up 10 them.
Overheard on Twitter
Behold! Here are the top tweets related to Bitcoin:
- From winklevoss:
On this day in 2013, @tylerwinklevoss and I presented the long case for #Bitcoin at the Value Investing Congress in NYC. The price of bitcoin was $132.Same conference where @davidein presented a short case for Lehman in 2007. Lehman filed for bankruptcy less than a year later.
- From theRealKiyosaki:
UNEMPLOYED BANKERS. Did Buffet dumping BIG BANKs signal end of banks? Is crypto US dollar next? Will crypto US $ mean more loss of freedom & privacy? More Orwell’s 1984 BIG BROTHER? Will Fed replace bankers? Is Fed Big Brother? More reasons to buy gold silver Bitcoin now.
- From pierre_rochard:
@PrestonPysh @hodlonaut @Square @Twitter @MicroStrategy @jack @Elliottmgmtcorp @jessecohn4 Hi Jesse! My DMs are open, let’s schedule a call and I’ll walk through the case for #bitcoin and how we can go about helping management teams make the smart decision. Crucial for preserving shareholder value over the coming decades, if you are interested in long term like me.
For a longer news piece related to BTC that’s been generating discussion, check out:
It seems that these risks have been overestimated by the market, and that bitcoin really was a great investment opportunity, in line with S2F model….The efficient bitcoin market not only discounts the fundamental value of scarcity (S2F model), but also all these risks: Note that without all these risks bitcoin’s value would be much higher, possibly in line with S2F model….EMH implies that S2F and the model forecasts should be already priced in by the market, because S2F model uses publicly available S2F data….Bitcoin return was not in line with risk, but very much in line with S2F model….My conclusion is that bitcoin markets are indeed reasonably efficient and price in S2F model, but also overestimate risk….Therefore, I prefer using S2F model over a classic risk & return model to forecast future bitcoin price.