Bitcoin (BTC) Up 4.79%

By February 6, 2020 Bitcoin Business
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Bitcoin Price Recap

The choppiness in the recent daily price action of Bitcoin continues; to start today, it comes in at a price of 9611.42 US dollars, up 4.79% since yesterday. The price move occurred on stronger volume; specifically, yesterday’s volume was up 83.01% from the day prior, and up 29.87% from the same day the week before. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 4th for the day in terms of day-over-day price change. Let’s take a look at price chart of Bitcoin.

Bitcoin Technical Analysis

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 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days Bitcoin’s price has gone up 5 them.

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 nic__carter:

    the millennial 60/40 portfolio – 60% tesla 40% bitcoin

  • From winklevoss:

    There are less bitcoin (21 million) than there are millionaires in the world today (~36 million). It will pay to be an early bitcoin adopter.

  • From bgarlinghouse:

    Also..this is the same guy that said bitcoin will go to 20K in 2019 ‾\\_(ツ)_/‾ #notNostradamusHe did predict Tom Hanks would win an Oscar for Mr. Rogers – maybe this is the prediction he’ll get right? Personally voting for Brad Pitt though!

As for a news story related to Bitcoin getting some buzz:

Lightning Labs Raises $10M Series A to Be the ‘Visa’ of Bitcoin – CoinDesk

“Loop ‘out’ is currently the most popular product because it allows people to continue receiving funds on lightning.” This service, which will charge a small percentage of each full loop, helps merchants and exchanges maintain liquidity in the channels. With nearly a dozen lightning startups sprouting up over the past two years, Stark said her startup will distinguish itself by becoming an “infrastructure provider” to other startups….Murray agreed, adding he strongly believes the infrastructure behind popular mobile apps will “take a different shape” over the next decade because it will enable direct payments between peers instead of reliance on a third-party provider that monetizes user data. In the meantime, Stark is optimistically curious about the ability to send “small amounts of data and have payments attached to them.” Speaking more broadly of the batched services Lightning Labs will offer by this time in 2021, she concluded: “These are lightning-native financial services that help improve the network.” The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

The choppiness in the recent daily price action of Bitcoin continues; to start today, it comes in at a price of 9611.42 US dollars, up 4.79% […]

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