Bitcoin Price Recap
Bitcoin enters today at 8431.78 in US dollars, up 0.45% from the day prior. This move happened on lower volume, as yesterday’s volume was down 27.77% from the day before — and down 46.05% from the same day the week before. On a relative basis, yesterday was pretty good: Bitcoin bested all 5 of the assets in the Top Cryptos class Here is a price chart of Bitcoin.
Bitcoin Technical Analysis
Coming into today Bitcoin is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for Bitcoin has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. 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 17 out of the past 30 days. Also, candlestick traders! Note we see pin bar
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 TheCryptoDog:
Bitcoin may go up, and bitcoin may go down, but only one thing is certain…It’s going to make every single one of us a billionaire.
- From Pixels4youcom:
We will give $100 in BITCOIN to someone random who will RETWEET this TWEET!
We want to make someone happy again.
We will announce the winner on February 1.
@DOGENTHUSlAST was chosen last time.
You must have a cryptocurrency wallet where BTC will be send to you.
- From notqblockz:
Alts are not an investment. They are trades. Something you get in and get back out of and at the end you should have sold them for more Bitcoin than you had before. Bitcoin should be the only long term exposure you have to cryptocurrency. It is an investment #lastone
In terms of news links for Bitcoin here’s one to try:
It seems that these risks have been overestimated by the market, and that bitcoin really was a great investment opportunity, in line with S2F model….The efficient bitcoin market not only discounts the fundamental value of scarcity (S2F model), but also all these risks: Note that without all these risks bitcoin’s value would be much higher, possibly in line with S2F model….EMH implies that S2F and the model forecasts should be already priced in by the market, because S2F model uses publicly available S2F data….Bitcoin return was not in line with risk, but very much in line with S2F model….My conclusion is that bitcoin markets are indeed reasonably efficient and price in S2F model, but also overestimate risk….Therefore, I prefer using S2F model over a classic risk & return model to forecast future bitcoin price.
Bitcoin enters today at 8431.78 in US dollars, up 0.45% from the day prior. This move happened on lower volume, as yesterday’s volume was down 27.77% […]