The price of Bitcoin has declined over the past trading week upward trend to resume. Investors of Bitcoin can enjoy a growth of around 4.3 per cent in the past seven trading days. Thus, it is the market leader in crypto currencies, to climb above the mark of $ 9,500. Currently BTC/USD is trading at well 9.520 dollars. Thus, the major technical hurdle is getting closer in the area of 10,300 dollars again slowly.
The most important facts about the BTC/USD exchange rate development
We consider the most important facts on the price development of BTC/USD into the last trading week:
- The rate maximum in the past week stood at 9.546,05 Dollar on April 29. May 01:38 CET.
- The course minium of the trading week, reached a BTC/USD on the 25. May, 13:09 CET when 8.688, $ 24.
- The Course of the last week, is 9.117, $ 14.
BTC/USD is currently near the week’s highs. The spread has moved in the the Bitcoin price this week, with more than 850 dollars is relatively large. The market capitalization of Bitcoin has grown in the past 24 hours by around 2.28 billion dollars. They estimated currently to slightly more than 175 billion dollars. In the crypto-Ranking by market capitalization of Bitcoin remains unchallenged at the top. However, Ethereum as the most valuable Altcoins has a much stronger Trend as Bitcoin. The price of ETH/USD rose within a week by almost 15 percent. Alone, more than 7 percent on the last 24 hours.
Bitcoin price almost back to year-high
Compared to the low of the year at the 16. March 5032,50 dollars, BTC/USD rate rises in the past few months, a strong value. Bitcoin rose in this period by about 90 percent. This is a very impressive result for this short period of time and exceeds the percentage value development of most of the other Top crypto-currencies
The highest level of the year 2020 of BTC/USD dated, but still on the 12. February as the course 10.328, $ 90 was increased. The Bitcoin is still a long way off. It is only 8.5 per cent are missing the BTC/USD to a new best mark in 2020. In February, the rate would be increased, possibly significantly more, if not the Corona of a crisis would be raised. Some analysts had issued in the Wake of the Bitcoin Halving is already a price target of $ 20,000.
BTC/USD should rise, however, soon over $ 10,000, and also the resistance in the corridor of 10,300-10.400 dollars to overcome, this could trigger a Bull Run that will pull the prices sharply upwards. But still it is not ready.
2020 has introduced for the investors of Bitcoin already have a strong return on investment. In comparison to the output value of 7,200 dollars on 1. January, the share price has already risen by more than 30 percent.
Bitcoin is hardly in motion
An interesting observation to the Bitcoin-development has made Philip Swift from the data platform lookintobitcoin.com . Swift, for example, has found that 60 per cent of all Bitcoins have not been moved for at least a year. The “Hold” the Coins could suggest that many investors expect a soon-to-be Bull Run. Interestingly, there was this Situation for the last Time in 2016 before Bitcoin came in a strong bullish Phase.
Investors should keep in any case, as always, the courses daily in order to be able to in a timely manner to price changes.
The course information in the article is based on the crypto-currency chart from CoinMarketCap at the time of article publication.
Image source: Photo by fdecomite