Today started with Bitcoin trading at around $7,299. The bulls were disappointed minutes later as the Bitcoin price dropped to around $7,266. A period of quick recovery followed and Bitcoin moved up to $7,328. It dropped to $7,237 afterward before moving up to $7,250.
After a period of support and resistance, the Bitcoin price followed an upward trend to $7,365, before dropping to $7,328 minutes later. Today ended with Bitcoin trading at $7,314.
Many Bitcoin investors were skeptical about an upward movement at the beginning of today because the Bitcoin price has been moving between $7,200 to $7,400 in the past two days. South Africa’s crackdown on cryptocurrency is not expected to make a major impact on the price.
BTC/USD 24-hour chart provided by Trading View
There were four major reversal periods today. The first major reversal happened when Bitcoin dropped from $7,348 to $7,237 after a period of almost-linear price movement. The second major reversal happened immediately after the first as the price moved up from $7,237 to $7,299. The third major reversal happened when the price dropped from $7,365 to $7,313 after a period of upward movement. The fourth major reversal happened when the price dropped from $7,365 to $7,299.
There is no major news that is expected to directly affect the Bitcoin price tomorrow. With Bitcoin hovering in the $7,300 region since the day before yesterday, we expect the price to end up around $7,400 region tomorrow or drop to $7,100.
Market trend: uncertain
High (24H): $7,365
Low (24H): $7,237
Market cap: $ 132,521,491,822 (data provided by Coinmarketcap)
Volume (24H): $ 14,824,981,025 (data provided by Coinmarketcap)
Today started with Ethereum trading at around 0.019185 BTC. The price of Ethereum dropped suddenly to 0.016150 BTC, which was followed by a sharp rise to around 0.022220 BTC. The price dropped immediately to 0.019185 BTC later. The day ended with Ethereum trading at 0.020854 BTC.
ETH/BTC 24-hour chart provided by Kucoin
High (24H): 0.022220 BTC (data provided by Kucoin)
Low (24H): 0.016150 BTC (data provided by Kucoin)
Today started with Ripple trading at around 0.00003352 BTC. The price of Ripple moved up sharply to around 0.00003762 BTC before dropping immediately to 0.00002941 BTC later. A long period of almost-linear price movement followed and continued throughout the day. The day ended with Ripple trading at 0.00003126 BTC.
XRP/BTC 24-hour chart provided by Kucoin
High (24H): 0.00003762 BTC TG(data provided by Kucoin)
Low (24H): 0.00002941 BTC (data provided by Kucoin)