Bitcoin (BTC) Price Near $49,834.99; Moves Up For the 2nd Straight Day

The Hourly View for BTC

Last Updated September 2, 2021, 02:016 GMT

At the moment, Bitcoin’s price is up $119.94 (0.24%) from the hour prior. This is the 2nd straight hour Bitcoin has seen its price head up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bitcoin Daily Price Recap

Bitcoin came into today up 2.89% ($1149.62) from the open of the previous day, marking the 2nd straight day it has gone up. The price move occurred on stronger volume; specifically, yesterday’s volume was up 78.76% from the day prior, and up 87.43% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 2nd for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Bitcoin.


Bitcoin Technical Analysis

Notably, Bitcoin is now close to its 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days Bitcoin’s price has gone up 16 them.

Overheard on Twitter

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

  • From CryptoWhale:

    The Former SEC Chairman literally sued Ripple on the last day he was in office, then went on to work at a firm that only trades Bitcoin and Ethereum, it’s two competitors. Retweet this if you think that sounds like a conflict of interest, and should be investigated!

  • From PeterSchiff:

    Western Union charges $4.95 to transfer up to $500 to #ElSalvador. To avoid this fee will people pay a fee to buy #Bitcoin instead, then pay an additional fee to transfer it to El Salvador, which once received will likely be sold, potentially at a loss? Bitcoin doesn’t fix this.

  • From cryptomanran:

    The mania in NFTs is the biggest reason of all to BUY BITCOIN.NFTs are the ultimate indicator of how much money there is in the world today. There has been so much money printed that people are drowning in this money and asset prices haven’t yet responded.Buy Bitcoin Asap.

As for a news story related to Bitcoin getting some buzz:

No Rule Against Bitcoin, ETH or XRP Insider Trading at SEC Leaked Email Reveals – Trustnodes

September 1, 2021 5:30 pm 1 The United States Securities and Exchanges Commission (SEC), which has claimed jurisdiction over XRP, has no rules against holding or trading the crypto according to an email by the SEC….The revelation was made in the context of whether SEC should disclose internal deliberations over crypto security classifications in particular as it pertains to XRP as well as bitcoin and ETH with Judge Netburn to hold an in-camera review on whether they should be disclosed….But when it comes to Ripple, their own policy seems to suggest XRP is not a security as they have not designated it as such in their rules against holding securities despite launching a court case that claims XRP is a security.