Bitcoin

Bitcoin Market Report: Institutional Investors Push $BTC Higher

The New York Times publishes article “I Was Wrong About Bitcoin. Here’s Why.” as institutional investors push bitcoin price to a new high of $18,111 on Bitfinex. Bitcoin is up 7.90% in 24 hours, up 6.54% on the week and up 168.50% on the month on a last price of $17,694.
The New York Times publishes article “I Was Wrong About Bitcoin. Here’s Why.” as institutional investors push bitcoin price to a new high of $18,111 on Bitfinex. Bitcoin is up 7.90% in 24 hours, up 6.54% on the week and up 168.50% on the month on a last price of $17,694.

Brief:


The New York Times publishes article “I Was Wrong About Bitcoin. Here’s Why.” as institutional investors push bitcoin price to a new high of $18,111 on Bitfinex. Bitcoin is up 7.90% in 24 hours, up 6.54% on the week and up 168.50% on the month on a last price of $17,694. The Bitcoin marketcap is $296,259,046,650 with a circulating supply of 16,743,475 $BTC. $BTC/USD is trading between a 24hr high of $18,111 and a 24hr low of $16,227 on a 24hr Bitfinex volume of 59,965 BTC. In moderate volume trading the weekly trend is mixed.

Last price

17694 $BTC/USD

$USD

last price $ 17694
one week ago $ 16608
percentage 6.54%

Volume

Volume

$BTC 24 hour volume
USD 59,965 BTC
all $BTC currencies 832,086 BTC

The 24 hour volume for $BTC/USD on Bitfinex is 59,965 BTC. This volume weight is moderate when compared with Bitfinex daily trading levels for $BTC over the last month.

The total 24 hour volume for all reporting $BTC markets is 832,086 BTC.

Market Share

The Bitfinex currency pair $BTC/USD is 7.21% of all $BTC traded in twenty-four hours. After Bitfinex, Bithumb has the second highest market share today with 6.92% in Korean $BTC/KRW.

Remarks

The New York Times publishes article “I Was Wrong About Bitcoin. Here’s Why.” as institutional investors push bitcoin price to a new high of $18,111 on Bitfinex. Bitcoin is up 7.90% in 24 hours, up 6.54% on the week and up 168.50% on the month on a last price of $17,694. The Bitcoin marketcap is $296,259,046,650 with a circulating supply of 16,743,475 $BTC. $BTC/USD is trading between a 24hr high of $18,111 and a 24hr low of $16,227 on a 24hr Bitfinex volume of 59,965 BTC. In moderate volume trading the weekly trend is mixed.

It was only eight days ago that bitcoin increased in value by over $2400 in twenty-four hours. It met resistance at $15,820.

Today investors are pushing the envelope again as a new all time high of $18,111 is seen on Bitfinex. It has been a continual upwards spiral for bitcoin for much of the last few months as time after time the record resistance moves upwards.

Wrong About Bitcoin – NY Times


Image courtesy NYTimes

On December 12 2017 Kevin Roose wrote an article on the New York Times titled “I Was Wrong About Bitcoin. Here’s Why.” The article explores five erroneous assumptions the author made about bitcoin. Of these, the assumption that bitcoin’s future depended on its everyday use, and also that Wall Street would stay away are perhaps the more remarkable mistakes. Today institutional investors are pushing the price upwards.

In September of 2017 the pompously mistaken US banker Jamie Dimon said “the digital currency [bitcoin] was only fit for use by drug dealers, murderers and people living in places such as North Korea.” He will need to add New York City and American institutional investors to that list.

Breaking

CoinMarketCap.com YTD Chart

One Day Candles

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24 Hours of Bitcoin
24 Hours of #Bitcoin
7.75% price $17,848.20
vol $14,659,600,000
mktcap $298,842,675,315
16.74M #XBT 20:07 #FinTech
http://kittybitcoin.com/bitcoin/24_hours_of_bitcoin.php

XBTLivePriceTM

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Price change

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

period change
day 7.90%
week 6.54%
month 168.50%

Highlight Chart

Tap / click to enlarge:

Bitcoin is up 7.90% in 24 hours, up 6.54% on the week and up 168.50% on the month on a last price of $17,694.
Bitcoin is up 7.90% in 24 hours, up 6.54% on the week and up 168.50% on the month on a last price of $17,694.

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 $ 296,259,046,650
Circulating supply 16,743,475
Last price $ 17694
Circulating supply data courtesy of CoinMarketCap.com.

Daily High Low

daily high 18111
daily low 16227

Trend

The weekly trend is mixed.

trend is MIXED

Resistance

Resistance is the highest price within the period:

period resistance
day 18111
week 18111

Support

Support is the lowest price within the period:

period support
day 16227
week 12731

Market sentiment

Market sentiment is bullish.

sentiment bullish

Image courtesy Pixabay.com

Summary

The New York Times publishes article “I Was Wrong About Bitcoin. Here’s Why.” as institutional investors push bitcoin price to a new high of $18,111 on Bitfinex. Bitcoin is up 7.90% in 24 hours, up 6.54% on the week and up 168.50% on the month on a last price of $17,694. The Bitcoin marketcap is $296,259,046,650 with a circulating supply of 16,743,475 $BTC. $BTC/USD saw weekly resistance at $18,111 and weekly support at $12,731. Market sentiment is bullish. The weekly trend is mixed 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 technical 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 Friday December 15 2017 19:57 hours UTC. Contact KittyBitcoin to request custom reports. Share your thoughts with @KittyBitcoin on Twitter.

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