Bitcoin 4 Hour Price Update
Updated July 18, 2020 01:35 AM GMT (09:35 PM EST)
Bitcoin is down 0.03% ($2.81) since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 3 four-hour candle positive run. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 4th for the four-hour candle in terms of price change relative to the last 4 hour candle.
Bitcoin Daily Price Recap
9156.79 (USD) was the opening price of the day for Bitcoin, resulting in the day prior being one in which price moved up 0.26% ($23.56) from the day prior. This move happened on lower volume, as yesterday’s volume was down 26.17% from the day before — and down 16.45% from the same day the week before. Bitcoin outperformed all 5 assets in the Top Cryptos asset class since the day prior. Congrats to its holders! The daily price chart of Bitcoin below illustrates.
Bitcoin Technical Analysis
Coming into today Bitcoin is now close to its 20, 50 and 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 90 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 down 18 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin:
- From tylerwinklevoss:
When I was growing up, we had AOL and just surfing the Internet was a big deal. Some incredible companies came out of this generation. Today, kids are growing up with Bitcoin and DeFi. Just imagine what Generation Crypto is going to build from here. Bullish.
- From kingsleyebere4:
Couldn’t afford an iPhone X worth of 220k in Naira that I was a fraudster,I told them I still live with my parents.Then they started asking for 200thousand naira, I told them I don’t have that much cash to giveaway then they found out I had a bitcoin wallet then they told me
- From Davincij15:
On Tuesday, November 3, 2020, if you are an American or not, the only Vote that will count the most in your lifetime is the one you make to buy and save #bitcoin for the day it becomes money.#Bitcoin will change governments to work for YOU unless you vote for #XRP
For a longer news piece related to BTC that’s been generating discussion, check out:
When Bitcoin was created, it was the only cryptocurrency and thus had 100% market share….In the current halving cycle, about 330,000 new coins are created per year, with 18.4 million coins in existence, meaning it currently has a stock-to-flow ratio in the upper 50’s, which puts it near gold’s stock-to-flow ratio….In the second year, only 90 new coins are available….During the third year, with only 80 new coins and still $10,000 in new capital, each buyer can only get 8 coins, at an effective price point of $125 per coin….So far, that’s Bitcoin….At the current time, I view Bitcoin as an asymmetric bet for a small part of a diversified portfolio, based on a) Bitcoin’s demonstrated network effect and security, b) where we are in Bitcoin’s programmed halving cycle, and c) the unusual macro backdrop that favors Bitcoin as a potential hedge.