Bitcoin (BTC) Up $80.33 Over Past 4 Hours, Entered Today Up 5.8%; in a Downtrend Over Past 14 Days

By March 18, 2020Bitcoin Business
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Bitcoin 4 Hour Price Update

Updated March 18, 2020 05:34 AM GMT (12:34 AM EST)

Bitcoin enters the current 4 hour candle at 5417.99 in US dollars, up 1.5% ($80.33) from the previous 4 hours. Bitcoin outperformed all 5 assets in the Top Cryptos asset class since the previous 4 hours.

Bitcoin Daily Price Recap

The choppiness in the recent daily price action of Bitcoin continues; to start today, it comes in at a price of 5337.66 US dollars, up 5.8% ($292.66) since the day prior. The change in price came along side change in volume that was down 37.93% from previous day, but up 44.78% from the Tuesday of last week. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 2nd for the day in terms of price change relative to the day prior. Here is a daily price chart of Bitcoin.

Bitcoin Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For another vantage point, consider that Bitcoin’s price has gone down 6 of the previous 10 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From jimmysong:

    The question I hope everyone will soon ask:If the government can just print money, why do we pay taxes at all?Going down that rabbit hole will eventually lead them to #Bitcoin

  • From danheld:

    One of the most mispriced assets in the world right now is Bitcoin.

  • From TheCryptoDog:

    • “Big” bailouts incoming
    • Cash for every American within 2 weeks
    • USD hyperinflation on the tableAll setting the ground floor for the biggest bull run in bitcoin’s history. The moment things chill out, bitcoin will probably snap straight up.

In terms of news links for Bitcoin here’s one to try:

Section 4.5.1 of the May 2019 FinCEN guidance states that “providers of anonymizing services” — such as custodial mixers — are money transmitters under FinCEN regulations….Anyone who provides anonymizing services by “accepting value from a customer and transmitting the same or another type of value to the recipient, in a way designed to mask the identity of the transmittor, is a money transmitter under FinCEN regulations.” Helix operated as a custodial mixer, where users’ coins were allegedly sent to Harmon’s control and swapped, then different coins were sent back to the user or to a predetermined destination….Then he mixed the bitcoin and sent it to himself again, at DropBit (another layering transaction), and from there, a regular user could unknowingly get the tainted bitcoin, and risk future issues with traditional on- and off-ramps for the reasons outlined above. The other federal charge complication is that most money laundering cases also involve unregistered money services business activity, meaning, the company didn’t register with FinCEN before setting up their dark web drug website….The DC money transmitter law has never been modified to include bitcoin and never been tested against bitcoin….We view CoinJoin as being no different than other standard privacy practices in Bitcoin, such as not reusing bitcoin addresses….Rafael and I have spent years learning the intricacies of money transmission and money laundering laws, and we have each helped many Bitcoin companies navigate these regulations.

Updated March 18, 2020 05:34 AM GMT (12:34 AM EST)

Bitcoin enters the current 4 hour candle at 5417.99 in US dollars, up 1.5% […]

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