Price of Bitcoin remains in a bullish posture following a remarkable month close at $13,850, which is a situation of basis points away from its highest ever month close.
Bitcoin Value action continues to be bolstered by PayPal’s recent announcement that it will begin facilitating cryptocurrency buys and also sells.
This followed an influx of institutional investment earlier this year, with MicroStrategy buying $475 million worth of Bitcoin in September before Square invested $50 million itself.
With all basic variables now apparently in place, from a technical perspective Bitcoin is in an even more powerful position with the previously obstinate $13,000 degree of resistance now being a quality of support.
Nonetheless, it is worth noting that actually during 2017’s sensational bull market, short term sell offs happen a lot more frequently.
This’s typically due to high net worth traders taking earnings, which triggers a cascade in liquidations as well as sell orders from those utilizing high leverage.
Around this point, even if Bitcoin Price suffers a sell-off to $12,600 it would continue in a bullish long-term position, though it’s worth looking at that the upcoming US election may cause volatile swings across all worldwide markets. Read:
For even more news, guides and cryptocurrency analysis, click here.
Bitcoin pricing Current live BTC pricing info as well as interactive charts are available on our site 24 hours 1 day. The ticker bar at the bottom part of every page on our website has the most recent Bitcoin price. Pricing also is available in a range of different currency equivalents:
Bitcoin Price USD BTC to USD
British Pound Sterling: BTCtoGBP
Japanese Yen: BTCtoJPY
Australian Dollar: BTCtoAUD
Russian Rouble: BTCtoRUB
In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called Bitcoin: A Peer-to-Peer Electronic Cash System. It was written by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows exactly who this person, or people, are actually.
The paper outlined a method of making use of a P2P network for electric transactions without relying on trust. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number zero (or maybe the genesis block), which had a reward of 50 Bitcoins.