Bitcoin (BTC) Price Near $13,609.99; in an Uptrend Over Past 30 Days

By October 29, 2020Bitcoin Business
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The Hourly View for BTC

Last Updated October 30, 2020, 01:037 GMT

At the moment, BTC’s price is up $18.66 (0.14%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as BTC has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bitcoin Daily Price Recap

The choppiness in the recent daily price action of Bitcoin continues; to start today, it came in at a price of 13462.18 US dollars, up 1.33% ($176.21) since the day prior. The change in price came along side change in volume that was up 27.77% from previous day, but down 24.86% from the Thursday of last week. Bitcoin outperformed all 7 assets in the Top Cryptos asset class since the day prior. Let’s take a look at the daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Bitcoin’s price has gone up 10 of the previous 14 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From michael_saylor:

    MicroStrategy has been running a full node of Bitcoin Core version 0.20.1 for over a month now. We are thrilled to do our part to support the growth of the #Bitcoin Network.

  • From KevinSvenson_:

    Around this time last year @sunnydecree gave me the biggest shoutout I have ever gotten.My subscriber count went from 8,000 -> 17,000 in less than 24 hours. Since then I have climbed to 31,000 Subs. I couldn’t have done it without you! Sunny you are a legend!
    #Bitcoin

  • From HedgeyeDDale:

    Q: Why the US tax code is so complicated? And why labor is taxed at less favorable rates than capital?A: The people with the capital contribute to political campaigns so that politicians lower rates for their income and create loopholes for their businesses and trusts. #bitcoin

For a longer news piece related to BTC that’s been generating discussion, check out:

Changpeng Zhao, chief executive officer of Binance, exploded onto the cryptocurrency scene in 2017 with a new business model that rewarded customers with his company’s own cryptocurrency, then let them pay fees with the same currency….Unlike its creator Binance, Binance.US, which is open to American investors, does not allow highly leveraged crypto-derivatives trading, which is regulated in the U.S. The leaked Tai Chi document, a slideshow believed to have been seen by senior Binance executives, is a strategic plan to execute a bait and switch….The source says the document was created by former Binance employee Harry Zhou, a serial entrepreneur, who is the co-founder of Koi Trading, a San Francisco-based cryptocurrency exchange partially owned by Binance. The file is named “Presentation 2” so there may have been other strategies being considered….“License and service fees paid by the US Service company to Binance are functionally US-sourced trading fees,” the document states. But unlike an actual subsidiary whose parent company could be held accountable for regulatory violations, the Tai Chi entity would have little more than a contractual relationship, further “insulat [ing] Binance from U.S. enforcement,” according to the document….The document describes how BAM Trading would license trading and wallet technology from Binance, but according to BAM Trading CEO Catherine Coley, there are no ownership ties to Changpeng Zhao’s Binance….Unlike other cryptocurrency exchanges though, Binance makes its own digital currency, the BNB coin. Days before Binance officially launched in July 2017, the exchange raised about $15 million by selling BNB, which could in turn be used to pay fees, and was given away as an incentive for recommending new Binance traders.

Last Updated October 30, 2020, 01:037 GMT

At the moment, BTC’s price is up $18.66 (0.14%) from the hour prior. It’s been a feast […]

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