How much does Bitcoin cost? This question is very often from the mouth. Novices, but is it worth focusing on its price? Here are some important points about what we could consider when analyzing the BTC chart!
Knowing how much Bitcoin costs is not enough to facilitate a sound investment decision. It is worth noting, for example, the emotions prevailing among the cryptocurrency community. Have fun here incl. anxiety and greed indicator from alternative.me. It connects to many scattered signals and then merges them together.
At this point, sentiment towards Bitcoin remains neutral. A huge anxiety would signal us that there was a transition on the BTC chart, and thus, it can be deepened. Nearby would be a signal to buy this cryptocurrency at a lower price than before. When the situation turns around, greed dominates Bitcoin - it signals its price increases. In such situations it is worth caution, author: BTC too expensive - the so-called hill.
Cryptocurrency market investors often behave equally irrationally to the situational situation. To choose when the price of Bitcoin falls, stay ahead of your coins instead of using the opportunity for a cheaper purchase. In turn, when it comes to increases, they throw themselves on a heavily inflated asset, instead of selling or waiting for available functions.
Quite important factors that push many people to Bitcoin are various conflicts and reasons. As the traditional monetary system collapses, scroll through the alternatives available that can reproduce the numerical values. These are, for example, raw materials such as gold and cryptocurrencies like Bitcoin.
The market of virtual connections near continuous in strong correlation with emotions. For this reason, we should not rely on the price of Bitcoin, but pay attention to everything that happens around it.
Current situation in the BTC world
According to the data provided by the site dealing with the analysis of information about blockchain - Glassnode, the Bitcoin balance recorded on the exchanges has reached its lowest annual level.
What does the chart below suggest to us? According to all analysts, the increase in the number of withdrawals of BTC coins with a cryptocurrency platform can be a positive indicator. In their opinion, this is an optimistic measure of both the medium and long-term Bitcoin trend.
This situation often happened when the most popular cryptocurrency was available in the accumulation phase. We would like to remind you that trading options are included in the portfolio on cryptocurrency exchanges - they play in short positions, so they may be able to use options and exit the market. Investors usually pay for their Bitcoins on addresses, thus minimizing the risk in the event that a given platform collapses.
At this point, there are many optimistic parameters suggesting an upward trend in the cryptocurrency market. Yesterday we wrote, among other things, that Bitcoin miners are not in a hurry to sell their BTC coins. At the turn of the last month, transfers from their addresses dropped significantly. The options are that larger market players decide to accumulate their bitcoins, while the weaker ones have little to sell.
How much does Bitcoin cost? A glance at the chart
During yesterday's session the BTC rate dropped to the level of 9 458 USD, within a few hours there was strong rebound. Closed at approximately USD 9 758.85. Current Bitcoin price is around 9,687, USD 36. Minor changes occurred in the daily range, BTC was 0.27% positive.