Bitcoin started the day trading at around $7,490 before dropping quickly to around $7,422. The downward trend didn’t last as Bitcoin moved up until it reached a peak of $7,543. The price dropped quickly again to around $7,452. This period was followed by a massive rise in the Bitcoin price to $7,660, followed by a sudden drop to $7,543. Bitcoin ended the day trading at $7,563.
Bitcoin investors were ecstatic at the beginning of the day because of the Bitcoin price increase the previous day, despite some bad news in the industry, one of them being the theft of $47 million in ETH from the Upbit cryptocurrency exchange.
Bitcoin 24-hour chart provided by Trading View
There were three major reversal periods. First was when the price increased to $7,543 after a sudden drop to $7,422. The second time the chart moved against the trend was when the Bitcoin price dropped to around $7,452 after a period of stagnant movement. The third time the market moved against the trend was when it dropped from $7,660 to $7,543.
The major news that might impact Bitcoin is the announcement of Bakkt recording growth in trading volume. We might expect steady growth in the Bitcoin price to around $7,800, or it may also head in a negative direction, to around $7,000.
Market trend: Uncertain
High (24H): $7,660
Low (24H): $7,422
Market cap: $134,792,621,252 (data provided by Coinmarketcap)
Volume (24H): $18,850,482,382 (data provided by Coinmarketcap)
Ethereum started the day trading at around 0.021418 BTC. The price increased steadily moments later to a high of around 0.021822 BTC. The price decreased steadily and ended at a low of around 0.02008 BTC.
ETH/BTC 24H chart provided by Kucoin
High (24H): 0.020472 BTC (data provided by Kucoin)
Low (24H): 0.02008 BTC (data provided by Kucoin)
Ripple started the day trading at around 0.00003129 BTC. This was followed by linear movement until the price increased to around 0.00003300 BTC. This was followed by a sharp drop in price. Ripple ended the day trading at 0.00003034 BTC.
XRP/BTC chart provided by Kucoin
High (24H): 0.00003051 BTC (data provided by Kucoin)
Low (24H): 0.00002976 BTC (data provided by Kucoin)