Bitcoin

Bitcoin Market Report: $BTC Partially Recovers Weekly Loss

 

Brief:


Bitcoin makes a partial recovery from a weekly loss. Bitcoin is up 4.54% on the day, down -7.73% on the week and up 20.79% on the month on a last price of $2674.00. $BTC/USD is trading between a 24hr high of $2750.00 and a 24hr low of $2444.00 on a 24hr OKCoin volume of 1024 BTC. The weekly trend is mixed.

Last price

2674.00 $BTC/USD

$USD

last price $ 2674.00
one week ago $ 2898.00
percentage -7.73%

Remarks

Bitcoin lost over -7.73% on the week. In the last week we saw BTC peak at $2979.80 on OKCoin.com on June 20 2017 at nine in the evening. The price tracked sideways at around $2890 until June 24. Thereafter we saw the sell off in which 2748 BTC changed hands on June 25. The drop was across the board as all exchanges saw a significant deflation in bitcoin’s price this week.

The good news is that BTC – despite its weekly loss – is still up 20.79% on the month on a last price of $2674.00.

We have continuing market uncertainty arising from industry divergence over the technical course of bitcoin software development. This has and will continue to plague bitcoin until such time as a final outcome is known. Accordingly users can expect more volatility and unpredictable price swings in the medium term with this market.

CoinMarketCap All Time Chart

One Month Chart

Bitcoin Market Reports
Browse $BTC dynamics with our Bitcoin Market Report collection:

Bitcoin Market Reports

XBTLivePrice
Here are Bitcoin spot prices at print time:

Bitcoin Monthly Market Share by Exchange: All Currencies
Bitcoinity reports interesting market share numbers for a one month period including all BTC currency types:

Kraken, Bitfinex, Coinbase (GDAX), OKCoin and Bitstamp lead all others in total amount of bitcoin traded in thirty days.

USD Sales Only
Who had the most bitcoin volume for only BTC in $USD? This chart indicates the marketshare of bitcoin traded in just US dollars:

Coinbase Potentially Liable for Cryptsy Losses?
According to Law111.com “In the wake of the collapse of cryptocurrency exchange, Cryptsy, due to its founder’s fraud, investors are now targeting Coinbase as a supposed aider and abettor of that fraud.” The argument is that Coinbase should have known Cryptsy was laundering withdrawls via Coinbase. Because Coinbase potentially failed to effectively enforce anti money laundering through its operations it then becomes potentially liable for those same losses.

This is an unusual circumstance given that many Reddit and other forum users complained often and loudly about how tough and stringent Coinbase was in enforcing its AML/KYC regime. If Coinbase can be liable, almost every exchange could be since other exchanges may enforce AML to a lesser extent than Coinbase. However, it may be that the bulk of funds were channeled through Coinbase.

Altcoin Market Reports
We publish recent and topical Market Reports on many altcoins. Browse our comprehensive collection of Altcoin Market Reports.

Price change

Price change is the percentage change within the period:

period change
day 4.54%
week -7.73%
month 20.79%

Featured Chart

Tap or click chart to enlarge:

Data source

Okcoin is the data source for this market report – except as noted.

Market capitalization

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

market cap = ( circulating supply x last price )
Market cap $ 43,897,052,500
Circulating supply 16,416,250
Last price $ 2674.00
Circulating supply data courtesy of CoinMarketCap.com.

Daily High Low

daily high 2750.00
daily low 2444.00

Trend

The weekly trend is mixed.

trend is MIXED

Support

Support is the lowest price within the period:

period support
day 2444.00
week 2444.00

Resistance

Resistance is the highest price within the period:

period resistance
day 2750.00
week 2979.80

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 306.00000000
week -224.00000000

Market sentiment

Market sentiment is neutral.

sentiment neutral

Image courtesy Pixabay.com

Summary

Bitcoin makes a partial recovery from a weekly loss. Bitcoin is up 4.54% on the day, down -7.73% on the week and up 20.79% on the month. The weekly trend is mixed. $BTC/USD saw weekly support at $2444.00 and weekly resistance at $2979.80. Market sentiment is neutral.

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 28 2017 22:11 hours UTC. Contact KittyBitcoin to request custom reports.

Coming soon

Thanks for reading! 🙂

Tags

Bitcoin, $BTC/USD, Okcoin, Brief, Last price, Volume, 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

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