Bitcoin 4 Hour Price Update
Updated March 31, 2020 05:35 AM GMT (01:35 AM EST)
Bitcoin came into the current 4 hour candle up 0.5% ($32.16) from the open of the previous 4 hours, marking the 3rd candle in a row an increase has occurred. On a relative basis, the previous 4 hours were pretty good: Bitcoin bested all 5 of the assets in the Top Cryptos class 🙂
Bitcoin Daily Price Recap
Bitcoin is up 8.86% ($521.11) since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. The price move occurred on volume that was up 55.46% from the day prior, but down 33.25% from the same day the week before. Bitcoin outperformed all 5 assets in the Top Cryptos asset class since the previous day. Below is a daily price chart of Bitcoin.
Bitcoin Technical Analysis
First things first: Bitcoin crossed above its 20 day moving average yesterday. Volatility for Bitcoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 30 and 90 day time periods
Overheard on Twitter
Behold! Here are the top tweets related to Bitcoin:
- From Bitcoin:
Bitcoin obsoletes all other money.
- From BTC_Macro:
A short story about opportunity cost.Since March 2012:
• Gold is -2.5%
• Bitcoin is +137,528%$1,000 invested in Gold is now worth $975.$1,000 invested in Bitcoin is now worth $1,376,280.Hating on $BTC has cost Gold fanatics 7-figures over the last 8 years alone!Wow.
- From scottmelker:
For a longer news piece related to BTC that’s been generating discussion, check out:
Currently, Bitcoin apps do not work peer-to-peer….HandCash and Money Button have been sending all transactions to each other directly, without third parties, for over a month now….Contrary to the theoretical way of handling P2P, which consisted on the receiver’s service to do the broadcast and transaction validation, we have found that in practice there’s a better way to do it: the sender broadcasts the transaction and at the same time it sends it to the receiver plus a signed message for the receiver to verify who sent it….Both HandCash and MoneyButton consider important to define a deadline where non-P2P transactions get deprecated from our services due to their unsustainable nature.