Latest Bitcoin price and analysis (BTC to USD)

Bitcoin is attempting to defy critics by breaking out to the upside despite being caught up in a typically bearish rising wedge pattern

As the block reward halving edges closer Bitcoin is being tipped to embark on another bull run, although it needs to break above a number of key levels before confirming a reversal.

The two previous halvings triggered consecutive all-time highs for Bitcoin, with the most recent occasion coming in December 2017 when it topped out at $20,000.

However, the current market is far less immature and far more liquid than it was in 2017 and 2013, providing more difficulty for those expecting Bitcoin to suddenly shoot to $100,000.

From a macro perspective, Bitcoin needs to break above the diagonal trendline dating back to the 2017 high. This particular trendline has since suppressed price action in June 2019 and at the start of this year when it spiked to $10,500.

That remains the first hurdle in a wider sense, but in the short term it needs to show strength and momentum by breaking back above $8,000, which is incidentally in confluence with the daily 200 moving average and the top of a rising wedge pattern.

A rising wedge is typically a bearish pattern although it would be invalidated with a break above $8,000.

At the time of writing Bitcoin is trading at $7,250 after surging by 2.5% in the past 24-hours as it sets its sights on the $7,400 level of resistance.

For more news, guides and cryptocurrency analysis, click here.

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 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.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

Previous Article

Social payments app Bundle launches crypto services in Africa

Next Article

New Jersey online poker surges to record high

Read More Related articles