Latest Bitcoin price and analysis (BTC to USD)

Bitcoin is consolidating within the bullish control zone after another failed attempt at a break out above the psychological level at $10,000

Bitcoin remains in a bullish pattern moving into the typically low volume weekend as it continues to test the $10,000 level of resistance.

The world’s largest cryptocurrency, which now has a market cap of $176 billion, is currently consolidating at around $9,600 after surging by 11.18% since Monday’s halving.

Miners now receive 6.25BTC per block as opposed to 12.5BTC and while it might not have an immediate impact on price action, it is considered bullish from a macro perspective due to a lack of new supply.

Nicholas Pelecanos, Head of Trading at NEM Ventures, revealed that he expects increased volatility over the coming weeks due to miner fundamentals.

“In the event of a bull run, I would be looking for a move above $9,800. Long term, I’m extremely bullish on price, and in my opinion the fundamentals have never been stronger. Regardless of whether a sell off occurs, I believe once we cross this level, the trajectory is high.” He said.

A correction from here back below $9,000 would increase the bearish potential of a further pull back as it would mark a double top at $10,000.

However, the recent golden cross on the daily chart, as noted in this week’s Coin Rivet analysis, should provide momentum for a swift move back towards the psychological level of $10,000.

With the 50 exponential moving average moving above the 200 EMA for the first time since January Bitcoin could well make a charge for a new yearly high above $10,500 as fears around the coronavirus pandemic begin to subside.

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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:

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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.

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