It is now testing the daily 22 and 50 exponential moving averages as we head into the typically low volume weekend.
Potential targets to the downside remain at $8,830 and $8,460 with the daily 200 moving average also likely to provide support at $8,715.
This has, historically, caused a tremendous upswing in the value of cryptocurrencies as supply from miners begins to dry up, causing a surge in demand.
It is also a possibility that Bitcoin will rally moving into May’s halving as trader attempt to price-in the impact of it before it comes into fruition.
A clear breakout above the $10,200 region would see Bitcoin trade above a key diagonal trendline for the first time since it began in December 2017.
Breaking above $10,200 will likely see Bitcoin continue towards the $12,300 and $13,800 levels of resistance, both of which may be final stopping points before a FOMO-induced surge to a new all-time high.
Current live BTC pricing 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. Pricing is also available in a range of different currency equivalents:
US Dollar – BTCtoUSD
British Pound Sterling – BTCtoGBP
Japanese Yen – BTCtoJPY
Euro – BTCtoEUR
Australian Dollar – BTCtoAUD
Russian Rouble – BTCtoRUB
In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.
The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins.
More BTC news and information
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.