Bitcoin Price Gives Up Gains, Falls Below 50-Day MA
- Bitcoin's (BTC/USD) traded price has given up virtually all of its hard earned gains from the past several days, falling by as much as 6%.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's (BTC/USD) traded price has given up virtually all of its hard earned gains from the past several days, falling by as much as 6% from its 2-week high of $258. It is currently trading at $243 on BTC-e.
Volume has picked up during the drop, surpassing 1,000 BTC/hour at its peak. During the slow and steady rise leading up to the previous high, volumes were more moderate near 300-500 BTC/hour.
The drop has also convincingly sent bitcoin back below its 50-day moving average (MA), which it has been crossing with increasing frequency in both directions. It is now 2.4% below the mark, which has since converged to just above $250.
Bitcoin has still maintained its increasing support levels but has also consistently failed to break past $300 in 2015, making its next major move a difficult call. It has not moved by more than 10% in a 24h period in nearly three weeks.
The gap between prices on BTC-e and its peers has uncharacteristically widened to roughly $7.00 (2.8%).
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's (BTC/USD) traded price has given up virtually all of its hard earned gains from the past several days, falling by as much as 6% from its 2-week high of $258. It is currently trading at $243 on BTC-e.
Volume has picked up during the drop, surpassing 1,000 BTC/hour at its peak. During the slow and steady rise leading up to the previous high, volumes were more moderate near 300-500 BTC/hour.
The drop has also convincingly sent bitcoin back below its 50-day moving average (MA), which it has been crossing with increasing frequency in both directions. It is now 2.4% below the mark, which has since converged to just above $250.
Bitcoin has still maintained its increasing support levels but has also consistently failed to break past $300 in 2015, making its next major move a difficult call. It has not moved by more than 10% in a 24h period in nearly three weeks.
The gap between prices on BTC-e and its peers has uncharacteristically widened to roughly $7.00 (2.8%).