Latest Bitcoin Price and Analysis (BTC to USD)
Bitcoin is currently on the verge of forming a new all-time high above $ 30,000 despite trading below $ 4,000 just nine months ago.
The world’s largest cryptocurrency is now firmly in a bull market due to an influx of institutional investment and the poor performance of the US dollar.
After hitting the previous all-time high of $ 20,000 with consummate ease, Bitcoin is now apparently on track with the stock-flow model this takes into account this summer’s halving event, which saw block rewards for miners drop from 12.5 BTC per block to 6.25 BTC per block.
This, along with a significant increase in demand, caused a seller-side supply shock, just like in 2017.
With sell-side liquidity so scarce, it paves the way for a strong first quarter in 2020 with several analysts suggesting that $ 35,000 can be on the cards as soon as possible.
From a technical standpoint, Bitcoin continues to be overbought on the RSI to suggest that a pullback could materialize in the new year, with the $ 24,000 support level being a likely target on the downside.
The $ 24,000 level is also in confluence with the daily exponential moving average of 21, with this particular EMA providing a rebound in late November and earlier this month.
If, however, Bitcoin does manage to break above $ 30,000 without any form of correction, it will likely continue its parabolic lead over the next several months with targets upward to $ 64,000 and up to $ 100,000.
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Current live BTC price information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Prices are also available in a range of different currency equivalents:
US dollars – BTC to USD
British pound sterling – BTCenGBP
Japanese yen – BTCversJPY
Euro – BTCversEUR
Australian dollar – BTCversAUD
Russian ruble – BTCtoRUB
In August 2008, the domain name bitcoin.org was registered. On October 31, 2008, an article was published titled “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was written by Satoshi Nakamoto, the inventor of Bitcoin. To this day, no one knows who this or these people are.
The document describes a method of using a P2P network for electronic transactions without “relying on trust”. On January 3, 2009, the Bitcoin network was born. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins.
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As with any investment, it’s worth doing some homework before parting with your money. Cryptocurrency prices are volatile and rise and fall rapidly. This page does not recommend any particular currency or whether or not you should invest.
Disclaimer: The views and opinions expressed by the author should not be taken as financial advice.