Bitcoin

Bitcoin Market Report: $BTC Sinks to Low of $6533

Brief:


Bitcoin sank to a low of $6533 in the last twenty-four hours on a worldwide volume of $4.8 billion, and slightly recovered. Bitcoin is up 6.03% in 24 hours, down -20.70% on the week and down -33.19% on the month on a last price of $7071.00. The Bitcoin marketcap is $119,854,157,100 with a circulating supply of 16,950,100 $BTC. $BTC/USD is trading between a 24hr high of $7222.00 and a 24hr low of $6635.10 on a 24hr Bitfinex volume of $520,563,000. This trading volume is moderate to heavy. The weekly price trend is down.

Last price

7071.00 $BTC/USD

$USD

last price $ 7071.00
one week ago $ 8917.20

Price change

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

period change
day 6.03%
week -20.70%
month -33.19%

Volume

Volume

$BTC 24 hour volume
USD $520,563,000
all $BTC currencies $4,885,880,000

The 24 hour volume for $BTC/USD on Bitfinex is $520,563,000. This volume weight is moderate to heavy when compared with Bitfinex daily trading levels for $BTC over the last month.

The total 24 hour volume for all reporting $BTC markets is $4,885,880,000.

Market Share

The Bitfinex currency pair $BTC/USD is 10.65% of all $BTC traded in twenty-four hours. Today OKEx is the next closest competitor with 6.49%.

Top $BTC Pairs
Tap or click for detail:

Remarks

Bitcoin sank to a low of $6533 in the last twenty-four hours on a worldwide volume of $4.8 billion, and slightly recovered. Bitcoin is up 6.03% in 24 hours, down -20.70% on the week and down -33.19% on the month on a last price of 7071.00. The Bitcoin marketcap is $119,854,157,100 with a circulating supply of 16,950,100 $BTC. $BTC/USD is trading between a 24hr high of 7222.00 and a 24hr low of 6635.10 on a 24hr Bitfinex volume of $520,563,000. In moderate to heavy volume trading the weekly trend is down.

$4.88 billion bitcoin changed hands in twenty-four hours. The price rose slightly after reaching a low of $6533.00.

Reasons for Bearish Price
The losses have been attributed to social media bans on crypto, and assorted USA and other international regulatory gymnastics by organizations anxious to have a slice of the pie.

Bitcoin and Capital Gains
The US IRS unbelievably mandates that traders who realize a capital gains with crypto will report such capital gains on their income tax. For example if you made money on BCH this may be a reportable capital gain.

However there is no corresponding investigative ability for capital gains on crypto addresses. Bitcoin addresses are anonymous with no personal information associated with any bitcoin address. Personal information may be associated with exchange accounts. Offshore or international exchanges are outside of direct USA intercession, although reciprocal tax treaties may make personal information more accessible.

American Based Exchange Reports Traders to IRS
In mid March 2018 thirteen thousand crypto traders learned by email that their @Coinbase account records were to be placed in the hands of the USA Internal Revenue Service (IRS). Coinbase is an American based exchange. Learn more about crypto exchange jurisdiction.

In the government scramble to grab power and money, bitcoin has alternately been labelled a commodity, a property, a security, and indeed whatever appears to suit the fancy of the regulating agency. A cohesive crypto strategy is perhaps beyond the vision and capability of the USA national government.

Tracking Coins Difficult
Recently the NEM Foundation gave up the chase for $533 million in stolen $XEM. Tracking movements of the coins over time and addresses became increasingly difficult for even half a billion dollars.

Privacy coins such as DASH and Zcash further distance address holders.

Opinions expressed by @KittyBitcoin although highly valued are not those of AllCoinsNews.com.

One Year $BTC Chart

$BTC One Day Candles

Browse Bitcoin Collection

Learn about the unique characteristics of $BTC. Browse our collection of Bitcoin Market Reports.

24 Hours of Bitcoin
24 Hours of #Bitcoin
5.46% price $7,137.11
vol $4,799,490,000
mktcap $120,975,085,066
16.95M #XBT 19:34
http://kittybitcoin.com/bitcoin/24_hours_of_bitcoin.php

XBTLivePriceTM

Two Days Ago

Highlight Chart

Tap / click to enlarge:

Bitcoin sank to a low of $6533 in the last twenty-four hours on a worldwide volume of $4.8 billion, and slightly recovered. Bitcoin is up 6.03% in 24 hours, down -20.70% on the week and down -33.19% on the month on a last price of $7071.00.
Bitcoin sank to a low of $6533 in the last twenty-four hours on a worldwide volume of $4.8 billion, and slightly recovered. Bitcoin is up 6.03% in 24 hours, down -20.70% on the week and down -33.19% on the month on a last price of $7071.00.

Data sources

Main Data Source

Bitfinex is the main data source for this report. The One Day Candles chart, highlight chart, and digital asset numeric trading data are from Bitfinex.

Secondary

CoinMarketCap is the secondary data source for this report. The One Year Chart, cryptocurrency rank, token circulating supply, and daily market share are sourced from CoinMarketCap.com.

Tertiary

XBTLivePriceTM and 24 Hours of Bitcoin are fine data products from KittyBitcoin.com

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 $ 119,854,157,100
Circulating supply 16,950,100
Last price $ 7071.00

Daily High Low

daily high 7222.00 USD
daily low 6635.10 USD

Trend

The weekly trend is down.

trend is DOWN

Trend is "down" when the weekly price movement is predominantly downwards.

Resistance

Resistance is the highest price within the period:

period resistance
day 7222.00 USD
week 9050.30 USD

Support

Support is the lowest price within the period:

period support
day 6635.10 USD
week 6533.00 USD

Market sentiment

Market sentiment is bearish.

sentiment bearish

Image courtesy Pixabay.com

Summary

Bitcoin sank to a low of $6533 in the last twenty-four hours on a worldwide volume of $4.8 billion, and slightly recovered. Bitcoin is up 6.03% in 24 hours, down -20.70% on the week and down -33.19% on the month on a last price of $7071.00. The Bitcoin marketcap is $119,854,157,100 with a circulating supply of 16,950,100 $BTC. $BTC/USD saw weekly resistance at $9050.30 USD and weekly support at 6533.00 USD. Market sentiment is bearish. The weekly price trend is down in daily moderate to heavy 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 Saturday March 31 2018 18:16 hours UTC. Contact KittyBitcoin to request custom reports. Share your thoughts with @KittyBitcoin on Twitter.

Bitcoin & Ethereum

Thanks for reading! 🙂

Tags

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

@KittyBitcoin supplies mobile friendly blockchain intelligence on http://kittybitcoin.com. Their favorite color is pink and the bigger the wool ball the better.
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