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    Home » Bitcoin (BTC) Price Analysis – Daily Updates

    Bitcoin (BTC) Price Analysis – Daily Updates


    Last Price
    $23,264
    Daily High
    $23,610
    Daily Low
    $22,786

    Chart Analysis
    Bitcoin Slides Below $23K But a Bullish Indicator Flashes (BTC Price Analysis)

    Bitcoin Slides Below $23K But a Bullish Indicator Flashes (BTC Price Analysis)

    Feb 6, 2023 15:30

    Bitcoin’s price rally has come to a halt as the market has been consolidating below a significant resistance level for weeks. While there are some worrying


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    How to read Bitcoin charts?
    Bitcoin charts usually present the progress of the price using Japanese candlesticks. Each candle represents a specific time-frame (depends on the chart) and is showing the open, close, and price range during that time-frame. On top of that, the chart usually contains a variety of technical analysis indicators. The most popular are support and resistance levels, trend-lines, Relative Strength Index (RSI), Fibonacci retracement levels.
    What affects the price of Bitcoin?
    Just like any other traded asset, the Bitcoin price is affected by supply and demand, as simple as that. However, the occurrence of certain global fundamental events could have a relation to the value of Bitcoin: During the year of 2016, for example, India's banknote demonetization had a positive effect on Bitcoin. In India, the price of the cryptocurrency was trading 20% higher than the rest of the world. If we go to recent years, the 2019 bull-run could be related to Facebook announcing on the Libra project. The bull-run started losing momentum as news regarding Libra's regulation's hardness started popping on the news. Besides the major global events, there are some Bitcoin heavy-bag holders, which are also known as Bitcoin Whales. They are holding thousands of BTC's, and that is enough to create large enough daily price maneuvers.
    Bitcoin Price News
    • What Arthur Hayes Got Wrong About His Latest Market Forecast

      What Arthur Hayes Got Wrong About His Latest Market Forecast

      Feb 8, 2023
    • Bitcoin Increases to $23.3K as Powell Reiterates 2% Inflation Target

      Bitcoin Increases to $23.3K as Powell Reiterates 2% Inflation Target

      Feb 7, 2023
    • FOMO Returns? 620K Retail Bitcoin Addresses Created Since BTC Reclaimed $20K

      FOMO Returns? 620K Retail Bitcoin Addresses Created Since BTC Reclaimed $20K

      Feb 6, 2023
    • Bitcoin Slides Below $23K But a Bullish Indicator Flashes (BTC Price Analysis)

      Bitcoin Slides Below $23K But a Bullish Indicator Flashes (BTC Price Analysis)

      Feb 6, 2023
    • Despite Bear Market, 82% of Millionaires Sought Crypto Advice in 2022 (Survey)

      Despite Bear Market, 82% of Millionaires Sought Crypto Advice in 2022 (Survey)

      Feb 5, 2023
    • Bitcoin Taps 5-Month Highs, Fed Hikes Rates as Expected, Optimism (OP) Leads DeFi Rally: This Week’s Recap

      Bitcoin Taps 5-Month Highs, Fed Hikes Rates as Expected, Optimism (OP) Leads DeFi Rally: This Week’s Recap

      Feb 3, 2023
    • How Bitcoin Reacted to January’s Highly Anticipated FOMC Meeting

      How Bitcoin Reacted to January’s Highly Anticipated FOMC Meeting

      Feb 1, 2023
    • Bitcoin Recorded its Best January in 10 Years With a 39.6% Monthly Surge

      Bitcoin Recorded its Best January in 10 Years With a 39.6% Monthly Surge

      Feb 1, 2023
    • Bitcoin Sees Best Month Since Oct 2021 as Exchange Flows Normalize: Glassnode

      Bitcoin Sees Best Month Since Oct 2021 as Exchange Flows Normalize: Glassnode

      Jan 31, 2023
    • From $100K to $1M, PlanB’s Prediction for Bitcoin’s High in 2025

      From $100K to $1M, PlanB’s Prediction for Bitcoin’s High in 2025

      Jan 30, 2023
    Previous Updates
  • bitcoin
    BTC$23,266.00
  • ethereum
    ETH$1,681.65
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