Bitcoin Enters 2016 with a Strong Value of $430

Well, 2015 has officially ended and we welcomed 2016 not long ago. Obviously, now that there can’t be any surprises, we can say that last year was a truly crazy one. What we will remember it for, most likely, is the extremely low value of less than $200 per coin the currency hit as well as the record high price of almost $500.

Naturally, there are many other interesting things that happened and, one way or another, affected the crypto currency. Meanwhile, media are already busy speculating what’s next for the Bitcoin in the year that has just started.

The only thing that can be said for sure at this point is that the currency entered 2016 with a strong value of almost $430 and has been doing pretty well during New Year’s Day.

Top Bitcoin Related Events of 2015

Before we go on to analysing the chart and the indicators for the first time in the New Year, we would like to highlight some events related to the Bitcoin that certainly left their mark on the currency.

For example, one of the hottest topics by the end of 2015 was the possible revelation of Satoshi Nakamoto, or better known as the inventor of Bitcoin. Even though Craig Steven Wright was never confirmed as the real person behind the virtual currency and the story has been almost forgotten by now, it definitely got the public attention when it first hit the news.

In February, 2015, Dell became the biggest company to accept Bitcoin internationally when it added the currency as one of the accepted payment methods offered to customers. Several months later, the world got its first Mike Tyson Bitcoin ATM. On legal news, the US Commodities Futures and Commission declared Bitcoin a commodity in September, whereas a month later the EU accepted it as a currency.

Bitcoin Still Moves around $430 Line

Well, here we are at what interests traders the most – price and technical indicators. The current trading price of the Bitcoin is right above $430 ($431.47), which we believe is a good start of the year. We hoped it would hit $450 before 2016 begins, but the slow market and New Year’s euphoria didn’t give us that pleasure. Ever since 12:00 AM the price has been moving over and under this line.

The day’s range is not that great with a daily low of $417.76 and a daily high of $434.26. Nevertheless, it’s good to see that the lowest price the Bitcoin reached this first day of the year isn’t under $415. The year to date change is low 0.54%, whereas the market cap is $6.06 B. Volatility is set at 21.7%, while the volume is low 30,732.

We have an amusing situation at the technical indicators and moving averages; both signal strong buy. Looking at their numbers, a trader might be sure that the price is going to jump during 2016’s first weekend. However, noting the low volume, you might want to be cautious when opening traders.

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