Bitcoin (BTC) Price Near $48,709.32; Moves Up For the 2nd Straight Day, in an Uptrend Over Past 30 Days

The Hourly View for BTC

Last Updated September 3, 2021, 02:016 GMT

At the moment, Bitcoin’s price is up $138.91 (0.29%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Bitcoin has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Bitcoin Daily Price Recap

Bitcoin closed the previous day up 2.89% ($1149.62); this denotes the 2nd straight day it has gone up. As for how volume fared, yesterday’s volume was up 78.76% from the previous day (Wednesday), and up 87.43% from Thursday of the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 2nd since the previous day in terms of percentage price change. Below is a daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

The first thing we should note is that the current price of Bitcoin is sitting close to its 100 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 up over that time. For additional context, note that price has gone up 5 out of the past 10 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 MrBeast:

    I’m teaming up with @coinbase to give 1 person $100,000 in Bitcoin! Here’s how to enter … 1. Reply to this tweet using the hashtag #CoinBeastSweepstakes2. Follow @coinbase and @mrbeast3. That’s pretty much it!

  • From ercwl:

    The Cardano community claims that I am criticizing Cardano only because I am an Ethereum maximalist. Cardano community, do you know that the Ethereum maximalists call me a Bitcoin maximalists? Ethereum maximalists, do you know that the Bitcoin maximalists call me a shitcoiner?

  • From charliebilello:

    1. Stocks: all-time highs
    2. Home prices: all-time highs
    3. Job openings: all-time highs
    4. Wages/GDP: all-time highs
    5. Core PCE Inflation: highest since 1991
    6. Bitcoin/Ethereum: 4/8x higher than 1 year ago
    7. Fed: we need 0% rates until 2023 to boost asset prices & inflation.

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

What Is Bitcoin? | Binance Academy

Contents A Bitcoin halving (also called a Bitcoin halvening) is simply an event that reduces the block reward….Users attach these to their transactions to incentivize miners to add their transactions to the blockchain.  Because it’s not managed by a data center that a single entity can upgrade at will, Bitcoin must limit the size of its blocks….Contents “Bitcoin node” is a term used to describe a program that interacts with the Bitcoin network in some way….Within the system, they transmit information about transactions and blocks.  Full nodes are integral to Bitcoin’s decentralization….Mining nodes are full nodes that perform an additional task – they produce blocks….Otherwise, they can’t know what transactions to include in the block.  If a participant wants to mine but doesn’t want to use a full node, they can connect to a server that gives them the information they need.