Chart Analysis
Bitcoin Price is Struggling To Maintain The Past Week’s Low: $8000 Soon? BTC Analysis & Overview
- Bitcoin
(BTC) - Price $8,334.39
- Market Cap$151,507,715,253.00
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
Bitcoin Price is Struggling To Maintain The Past Week’s Low: $8000 Soon? BTC Analysis & Overview
The Reason Why Bitcoin Halving Can’t Be Priced In Before It Actually Happens
Bitcoin Dips $300 And Recovers As Altcoins Continue The Mini-Season: Wednesday Market Watch
Bitcoin SV (BSV) Skyrockets 20% While The Green’s Back Into The Market: Crypto Monday’s Watch
Chinese New Year’s Coming Up: Price History Reveals Bitcoin Bulls Should Be Worried
Bitcoin Just Plunged $700 Upon Reaching The MA-200: Healthy Correction or Reason To Panic? Price Analysis & Overview
Bitcoin Price Analysis: This Is The First Major Test Of 2020 In The Road To $10,000 BTC
Crypto Price Analysis & Overview January 17th: Bitcoin, Ethereum, Ripple, Tezos, and Ethereum Classic.
Bitcoin Price Tests $9,000 As Altcoins Flourish: Friday Crypto Market Watch
Bitcoin Price Analysis: Is This The End of The January 2020 Bull-Run, After Today’s $300 Correction?
