Bitcoin Market Report: BTC Up 51.43% on the Month

Brief:


Bitcoin is up 1.95% on the day, up 19.71% on the week and up 51.43% on the month on a last price of 691.35. BTC/USD is trading between a 24hr high of 699.00 and a 24hr low of 689.00, in a weekly up trend.

Last price

691.35 BTC/USD

Remarks

The Bitcoin coin rush isn’t over as the bitcoin halving nears. BTC is climbing significantly higher – up 51.43% on the month. If you had invested just one bitcoin then today your bitcoin would be worth $10.00 more in one day, $113.85 more in one week, and up $234.75 in 30 days. That’s a hefty chunk of change and an increase you may not easily find in other markets.

Chinese investors turn to bitcoin
More than one trader is suggesting that the lack of good alternatives for Chinese investors – especially given the ongoing yuan devaluation and Chinese restriction on yuan capital movement overseas – is making bitcoin an attractive investment option.

Two Chinese exchanges earn 93.44% world marketshare
China is already the biggest market for bitcoins by a large factor. The worlds largest bitcoin exchanges are Chinese, and two of these exchanges have been earning over 90% of the total bitcoin market between themselves. According to bitcoinity.org in the last six months Huobi traded 223M bitcoin for a world leading 48.46% market share for ALL bitcoin. OKCoin traded 207M BTC or 44.98% of all BTC traded worldwide. Together these exchanges traded 93.44 percent of all bitcoin in the last half year.

Price change

Price change is the percentage change within the period:

period change
day 1.95%
week 19.71%
month 51.43%

Chart

Tap or click chart to enlarge:

chart-okcoin-btc-usd-2016-06-15

Data source

Okcoin is the data source for this market report.

Market capitalization

Market capitalization is the total $US dollar value of the Bitcoin market calculated using the formula:

market cap = ( available supply x last price )
Market cap Available supply Last price
$10,827,215,066 15660975 $691.35

10.8 billion dollar market
With the latest BTC price increase the market capitalization is now a whopping 10.8 billion dollars.

Indicators

Daily High Low

daily high 699.00
daily low 689.00

Trend

The weekly trend is up.

trend is UP

Support

Support is the lowest price within the period:

period support
day 689.00
week 574.99
biweekly 538.47
month 442.59

Resistance

Resistance is the highest price within the period:

period resistance
day 699.00
week 738.42
biweekly 738.42
month 738.42

Margin trading

yes

The data source Okcoin offers margin trading on this digital asset.

Range

Range is the difference in price within the period:

period range
day 10.00000000
week 113.85000000
month 234.79000000

Market sentiment

Market sentiment is bullish.

sentiment bullish

Image courtesy Pixabay.com

Summary

Bitcoin is up 1.95% on the day, up 19.71% on the week and up 51.43% on the month. The weekly trend is up. BTC/USD saw weekly support at 574.99 and weekly resistance at 738.42. Market sentiment is bullish.

Disclaimer

Past history is NOT an indicator of future results. Read the legal disclaimer:

http://kittybitcoin.com/docs/disclaimer.php

Printed

This report was printed on Wednesday June 15 2016 20:22 hours UTC. Contact KittyBitcoin to request custom reports.

Coming soon

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Tags

Bitcoin, Okcoin, BTC/USD, Brief, Last price, Remarks, Price change, Chart, Data source, Market capitalization, Indicators, Daily high low, Trend, Support, Margin trading, Resistance, Range, Market sentiment, Summary, Disclaimer, Printed, Coming soon, cryptocurrency, bitcoins, BTC, altcoins, investing, trading, speculation, coins, investment, digital, assets, tags