Over the past week the Bitcoin price has grown by more than 12%, and is right now at a $445 mark. Not bad for those who bought in the beginning of the week – they are now rewarded with a really successful weekend. Bitcoin price chart 1 According to the Livecoin platform, during most of the week the traders’ sentiment was positive as they were mostly buying. Although there was some degree of uncertainty on the market back on Monday and Tuesday, as the numbers of buyers and sellers were roughly equal. However, starting on Wednesday, the market was decisively taken by the buyers, which led to the upwards trend that was stable right until Sunday. Bitcoin price chart 3 It’s important to note the global economical picture, because it affects the overall rates of fiat currencies. If fiat currencies are dropping, the speculators are going to sell Bitcoin and buy fiat, which will in turn cause the decline in BTC prices.
Overall, the situation with main fiat currencies was unclear during Monday and Tuesday. There was no pronounced movement influencing the USD exchange rate. Bitcoin price chart 4 Bitcoin price chart 5 The 17th and 19th of February were of key importance. The reason for that were important news from USA: 17th – the volume of issued building permits. It was announced to be 1202K, which is higher than the experts predicted it to be (1200K), but lower than back in January (1204K).
19th – the consumer price index announcement. The experts were expecting a decrease of 0.1%, compared to the previous month (when the mark was at 0.1% for the monthly metric and 0.7% for the yearly one). The actual data has beaten both the anticipations and the previous month’s results: 0% monthly and 1.4% yearly. Additionally, there was […]
