Out of the 5 instruments in the top cryptos asset class, bitcoin ended up ranking 3rd for the day in terms of day-over-day price change.
After 10 years of watching the #bitcoin bubble inflate, at $10,000 per coin he thinks now’s the time to urge his listeners to buy.
For additional context, note that price has gone up 9 out of the past 14 days.
Volatility for bitcoin has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
In the year after the two previous halvings, in november 2012 and july 2016, bitcoin rose around by 80 times and four times respectively….
Today, approximately 18 million bitcoins exist and new bitcoins are supplied at a rate of ~3.6% annually….
Those trading within the top cryptos asset class should know that bitcoin was the worst performer in the class.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 22% from the day prior, and up 102.29% from the same day the week before.
We observed the correlation with Bitcoin’s price and the transaction volume of the preceding 1 – 7 days, and found day 4 had the strongest correlation — suggesting that previous transaction count may have some predictive power in terms of Bitcoin’s price.
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.