Bitcoin Market Report: $BTC Up 21.76% on the Week
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|
|one week ago||$ 3597.90|
|$BTC||24 hour volume|
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.
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:
— BTCC (@YourBTCC) September 30, 2017
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
24 Hours of Bitcoin
24 Hours of #Bitcoin
3.98% price $4,352.70
16.60M #XBT 02:00 #FinTech
Bitcoin spot prices from four major exchanges at print time:
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Price change is the $BTC percentage change within the period:
Bitfinex is the main data source for this report. Other sources are credited where used.
Market capitalization is the total $US dollar value of the Bitcoin market calculated using the formula:
|Market cap||$ 72,707,042,400|
|Last price||$ 4380.80|
Daily High Low
The weekly trend is up.
Support is the lowest price within the period:
Resistance is the highest price within the period:
Range is the difference in price within the period:
Market sentiment is neutral.
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.
Past history is NOT an indicator of future results. Read the legal disclaimer:
Bitcoin, $BTC, USD, Bitfinex, Market, Report, $BTC/USD