Latest Bitcoin Price and Analysis (BTC to USD)

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Bitcoin enters the usually low volume weekend with a sense of relief after finally breaking through the resistance level of $ 33,000 on Friday.

The apparent burst follows a frustrating 24 hours in which the world’s largest cryptocurrency failed to win $ 33,000 despite five significant attempts.

Attention will now turn to the Bitcoin futures contract closing on CME at 11pm UTC tonight. A close above $ 33,400 should signal that the cryptocurrency market will be relatively immune to the price drop over the weekend.

It should be noted that all of the higher timeframes remain in a bearish posture, with the recent daily death cross adding to the downward pressure.

The daily exponential moving average of 50 has now fallen to $ 37,300, after breaking above $ 43,000 just a fortnight ago. Testing this moving average before the next major move seems the most likely, as a break above it would indicate a change in momentum in the near term.

BTCUSD chart by TradingView

One factor that will certainly be key to Bitcoin’s trajectory over the next few weeks will be whether it sees a significant increase in trading volume. Currently, 24-hour volume is consistently below the $ 30 billion mark, 50% less than two months ago, when it often exceeded $ 60 billion.

If the volume continues to decline, it paints a miserable picture for Bitcoin bulls who may believe cryptocurrencies are destined for more upside during 2021.

However, Bitcoin has a habit of going against the grain and causing surprise when the odds are against it. If he can eliminate the much reinforced resistance level at $ 42,000, that would demonstrate a clear behavior change that would replicate the double bubble market of 2013.

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Bitcoin pricing

Current live BTC price information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Prices are also available in a range of different currency equivalents:

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US Dollar BTC to USD

Pound sterling BTCtoGBP

Japanese yen BTCversJPY

Euro BTCverseur

Australian dollar BTCtoAUD

Russian ruble BTCtoRUB

About Bitcoin

In August 2008, the domain name bitcoin.org was registered. On October 31, 2008, an article was published titled Bitcoin: A Peer-to-Peer Electronic Cash System. This was written by Satoshi Nakamoto, the inventor of Bitcoin. To this day, no one knows who this or these people are.

The document describes a method of using a P2P network for electronic transactions without relying on trust. On January 3, 2009, the Bitcoin network was born. Nakamoto mined block number 0 (or the genesis block), which had a reward of 50 Bitcoins.

More news and information about BTC

If you want to learn more about Bitcoin or cryptocurrencies in general, use the search box at the top of this page. Here’s an article to get you started.

As with any investment, it’s worth doing some homework before parting with your money. Cryptocurrency prices are volatile and rise and fall rapidly. This page does not recommend any particular currency or whether or not you should invest.

Disclaimer: The views and opinions expressed by the author should not be taken as financial advice.

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