Bitcoin Market Report: $BTC Up 21.76% on the Week

Brief:


Bitcoin has climbed higher despite a spate of bad regulatory news. Bitcoin is up 5.12% in 24 hours, up 21.76% on the week and down -7.15% on the month on a last price of $4380.80. $BTC/USD is trading between a 24hr high of $4,397.00 and a 24hr low of $4,183.40 on a 24hr Bitfinex volume of 32,391 BTC. In moderate volume trading the weekly trend is up.

Last price

4380.80 $BTC/USD

$USD

last price $ 4380.80
one week ago $ 3597.90
percentage 21.76%

Volume

Volume

$BTC 24 hour volume
USD 32,391 BTC
all currencies $1,225,050,000

The 24 hour volume for $BTC/USD on Bitfinex is 32,391 BTC. This volume weight is moderate when compared with daily trading levels over the last month.

The total 24 hour volume for all reporting $BTC markets is $1,225,050,000.

Remarks

Bitcoin has climbed higher despite a spate of bad regulatory news. Bitcoin is up 5.12% in 24 hours, up 21.76% on the week and down -7.15% on the month on a last price of $4380.80.

According to CoinMarketCap.com the marketcap is $72.2 billion on a twenty-four hour total market volume of $1,225,050,000 with a circulating supply of 16,596,750 BTC.

Some of the bad news included the declaration by China officials that bitcoin trading in China was “illegal”. This has led to the imminent or planned closure of all legal bitcoin trading in China:

Offsetting good news included the persistent recovery of bitcoin in the last week (up 21.76%), the official approval and licensing of eleven Japanese bitcoin exchanges, the addition and upwards bouyancy of Korean based cryptocurrency exchanges as the Chinese exchanges close – and more.

Bitcoinity Market Share by Exchange – 30 Days
As anticipated there is and will continue to be shakeup in the bitcoin and cryptocurrency exchange market share with the drop out of major Chinese players and the entrance of new exchanges:

Superficially it “appears” as if all the remaining top exchanges, possibly more in Asian based exchanges than elsewhere, are benefiting from the Chinese prohibition.

CoinMarketCap YTD Chart

One Day Candles

24 Hours of Bitcoin
24 Hours of #Bitcoin
3.98% price $4,352.70
vol $1,240,790,000
mktcap $72,240,834,775
16.60M #XBT 02:00 #FinTech
http://kittybitcoin.com/bitcoin/24_hours_of_bitcoin.php

XBTLivePriceTM
Bitcoin spot prices from four major exchanges at print time:

Yesterday

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Price change

Price change is the $BTC percentage change within the period:

period change
day 5.12%
week 21.76%
month -7.15%

Featured Chart

Tap or click to enlarge:

Data source

Bitfinex is the main data source for this report. Other sources are credited where used.

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 $ 72,707,042,400
Circulating supply 16,596,750
Last price $ 4380.80
Circulating supply data courtesy of CoinMarketCap.com.

Daily High Low

daily high 4,397.00
daily low 4,183.40

Trend

The weekly trend is up.

trend is UP

Support

Support is the lowest price within the period:

period support
day 4,183.40
week 3653.70

Resistance

Resistance is the highest price within the period:

period resistance
day 4,397.00
week 4,397.00

Range

Range is the difference in price within the period:

period range
day 212.40
week 782.90

Market sentiment

Market sentiment is neutral.

sentiment neutral

Image courtesy Pixabay.com

Summary

Bitcoin has climbed higher despite a spate of bad regulatory news. Bitcoin is up 5.12% in 24 hours, up 21.76% on the week and down -7.15% on the month on a last price of $4380.80. $BTC/USD saw weekly resistance at $4,397.00 and weekly support at $3653.70. Market sentiment is neutral. The weekly trend is up in moderate volume trading.

Analytic Strategy: Objective Analysis

Objective analysis begins free of subjectivity. Interpretation of technical analysis geometric patterns, for example perceived shapes on a trading chart, is inherently subjective. This report is free of subjectivity to the maximum extent reasonably possible.

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 Sunday October 01 2017 00:53 hours UTC. Contact KittyBitcoin to request custom reports. Share your thoughts with @KittyBitcoin on Twitter.

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Tags

Bitcoin, $BTC, USD, Bitfinex, Market, Report, $BTC/USD

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