Today started with Bitcoin trading at around $7,307. The Bitcoin price moved up to $7,471 moments later before dropping suddenly to $7,307 again. It moved up to $7,409 before falling sharply again to $7,237.
There was a drop to $7,141 which was followed by an unprecedented move from $7,204 to $7,771 within a short span of time. The Bitcoin price dropped to $7,237 again after this crazy period before ending the day trading at $7,204.
The Bitcoin price has been almost stable in the last two days as it moved between $7,200 and $7,400. Bitcoin investors were expecting it to break through stagnancy in a positive way today.
BTC/USD 24-hour chart provided by Trading View
There were three major reversal periods today. The first was when the Bitcoin price dropped from $7,409 to $7,237 after a period of upward movement. The second major reversal happened when the price dropped from $7,306 to $7,204 after a period of almost-linear price movement. The third reversal was a dramatic one as the Bitcoin price dropped from $7,771 to $7,471 after a massive jump.
The major news that is expected to affect Bitcoin is Bakkt CEO, Loeffler, being appointed as a senator by the governor of Georgia. This news is expected to have a positive impact on price movement as a cryptocurrency stakeholder is appointed to a seat of power in the US.
Market trend: Bearish
High (24H): $7,771
Low (24H): $7,142
Market cap: $ 131,579,266,793 (data provided by Coinmarketcap)
Volume (24H): $ 21,408,041,451 (data provided by Coinmarketcap)
Today started with Ethereum trading at around 0.021682 BTC. The price moved up steadily to 0.020165 BTC moments later before dropping sharply to 0.018870 BTC immediately. The price of Ethereum climbed up steadily to 0.021682 BTC a few hours later.
ETH/BTC 24-hour chart provided by Kucoin
High (24H): 0.022498 BTC (data provided by Kucoin)
Low (24H): 0.018870 BTC (data provided by Kucoin)
Today started with Ripple trading at around 0.00003568 BTC. The price of Ripple climbed up to 0.00003762 BTC immediately after, which didn’t last as it dropped to 0.00002902 BTC. A long period of almost-linear price movement followed. Today ended with Ripple trading at 0.00002902 BTC.
XRP/BTC 24-hour chart provided by Kucoin
High (24H): 0.000003762 BTC (data provided by Kucoin)
Low (24H): 0.000002902 BTC (data provided by Kucoin)