Bitcoin 4 Hour Price Update
Updated May 14, 2020 11:17 AM GMT (07:17 AM EST)
Bitcoin closed the previous 4 hours up 2.12% ($201.38); this denotes the 7th candle in a row an upward move has occurred. On a relative basis, the previous 4 hours were pretty good: Bitcoin bested all 5 of the assets in the Top Cryptos class 🙂
Bitcoin Daily Price Recap
Bitcoin closed yesterday up 5.63% ($496.26); this denotes the 2nd day in a row it has gone up. The price move occurred on volume that was up 7.18% from the day prior, but down 23.98% from the same day the week before. Bitcoin outperformed all 5 assets in the Top Cryptos asset class since yesterday. Congrats to its holders! Let’s take a look at the daily price chart of Bitcoin.
Bitcoin Technical Analysis
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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Bitcoin’s price has gone up 5 them.
Overheard on Twitter
Behold! Here are the top tweets related to Bitcoin:
- From APompliano:
Gold is up 12% year-to-date and Bitcoin is up 25% in the same time period.I won’t hold my breath for the media to write articles stating “Bitcoin proving to be the best safe haven asset in the economic crisis.”But even their silence can’t change the truth 🙂
- From mjdsouza2:
1) In 2016, #Bitcoin rallied ~67% into Halving. It corrected 33% & bottomed within 3 weeks only to begin a 17 Month Bull Market.
In 2020, we didn’t rally going into Halving as we recovered losses from a Global Market Melt Down. The Fundamentals for Bitcoin have never been better.
- From Alex_Houseof308:
There was a time when Bitcoins were basically free. But now, if you Google price for one Bitcoin, na kidney amount you go see.Same thing wey many of us ignore years back, don dey super valuable.It’s not to late to learn about Crypto. Patricia can help you…#WeArePatricia
As for a news story related to Bitcoin getting some buzz:
Bitcoin’s market cap dominance relative to other cryptocurrencies is well known….First, let’s take a look at Bitcoin’s market cap dominance over the years: In general, Bitcoin’s position as the blue-chip asset has remained unchallenged….An alternative metric would be how Coinbase customers trade these assets: As we can see, the same large-scale trend is evident….However, retail volume on Coinbase shows an increased proclivity to purchase and trade alternative assets….On average, Coinbase customers trade non-BTC assets at a ~3% higher rate than their relative market caps would suggest….Volume and traction Due to DEX’s challenges around scale & throughput, user experience, and limited trading pairs, traction has been minimal compared to centralized exchanges.