Latest Bitcoin price and analysis (BTC to USD)

Bitcoin is delicately poised to break out above the $10,000 level of resistance following a surprising 9% rally since the turn of the month

Bitcoin is on the brink of a major breakout despite questionable trading activity that saw it leapfrog the $9,000 level of resistance on Thursday.

It is now testing the daily 22 and 50 exponential moving averages as we head into the typically low volume weekend.

A rejection from the $9,320 level of resistance will mark a third consecutive lower high from the $10,500 top on February 13, which has the hallmarks of a bearish reversal.

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.

Much of the upcoming price action will depend on the impact of May’s halving event, which will see block rewards for miners slashed from 12.5BTC per block to 6.25BTC per block.

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.

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Bitcoin pricing

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

About Bitcoin

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

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

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.

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