Bitcoin Price Daily report — August 12th, 2018
The BTC/USD Daily report for August 12th, 2018
The 1 day range for BTC is $6162.0 – $6390.9. It is currently up 1.859% in the last 24 hours.
Today’s BTC/USD Headlines
One Chart Explains Why You Should Own Bitcoin
- “In the upper right quarter of the chart below their analysis shows that the closest correlation between Bitcoin and other CCs (depicted as the FS CryptoFX Indexes Fundstrat developed and tracks) is in the high-teens with about half of all the comparisons in the single digits. This means that Bitcoin’s and the other CCs price movements are not tied to these other asset classes.”
(chart courtesy of Forbes)
Could Bitcoin Fall To $4,000 In The Coming Weeks?
- “Bitcoin prices have repeatedly suffered weakness over the last several months, and recently, a Bloomberg analyst predicted that the digital currency could fall to as little as $4,000.”
BTC/USD Trading Technicals
Technicals from Tradingview.com
A decent rebound from a bad start to the weekend. Bitcoin fell past crucial points of $6500 and even $6100 yesterday to near falling below $6000. Not good for a coin that’s been in relative free fall for a week now. We’ve seen a rebound of nearly 2% today which can be optimistic, but we’re looking at a full indicator list for sells. So the optimism may be short lived.
We’re seeing some analysts (like linked above) call for prices as low as $4,000. So the bottom may still be to come. But there are still enough investors in the long term success of crypto to write things off completely.
BTC/USD Trading Charts
To illustrate those technicals, we’ll show two SHORT charts today.
Here’s our first chart from user Pro_Incidators:
And another SHORT chart from user Z4Zachary:
Daily Altcoin Events
Many altcoins featured on this list can be traded on Binance.
Bitcoin logo courtesy of bitcoin.org
