Well, just when many people decided to give up on the Bitcoin and pronounce it dead, the cryptocurrency, as usual, got back on its feet and proved everyone wrong. Today is one of those days when we gladly write about its price, which has noted a significant jump over the weekend.
Last time when we checked the price chart, the Bitcoin was settled right below $450 and the majority of the indicators were sending a buy signal. Today, the signal has shifted and it’s a strong sell instead; nonetheless, there’s still hope that the $460 threshold may be breached during April’s last week.
In terms of Bitcoin-related events and news, Bitstamp, a popular Slovenian company, revealed that it has received a license to operate across Europe by the Luxembourg Ministry of Finance. As a result, the exchange will now be able to do business in all 28 EU countries. This approval makes Bitstamp the first entity to receive such a license in the Union.
Another article we highly recommend to our readers, especially to anyone concerned with Bitcoin’s status in South Africa, is the one published on News24. The author thoroughly analyses the stance the South African Reserve Bank has on Bitcoin. The final conclusion is that the SARB actually lets people use the cryptocurrency at their own risk, but doesn’t provide protection in case they’ve been scammed.
Day’s High $459; $457 Most Commonly Seen
It’s interesting to pay a close attention to the price chart, because it’s easy to spot the moment when the Bitcoin jumped from $450.28 to $459.18, a value that is also the highest one recorded in the past 24 hours. This increase happened yesterday night and ever since the cryptocurrency has been relatively stable moving between $455 and $457.
In terms of lowest value, this was also hit yesterday afternoon when the Bitcoin declined to $448.15. In contrast, today’s low for the present has been considerably higher $452.51. The current trading price of the Bitcoin, by the way, is $458.24 and the cryptocurrency has noted an improvement in value of 0.28% in the past 24 hours.
Just like we predicted on Friday, the market cap breached the $7 billion mark and today it’s set at $7.01 billion. The 24-hour volume has been settled at $65,320,700, a number that’s not that lower than Friday’s value. Should we hope for additional price movement? We would guess that the possibility is high.
From Strong Sell Indicators’ Signal Changed Into Strong Buy
We’ve known for quite some time now that the situation changes pretty fast when it comes to Bitcoin; however, today we have the perfect example of it. In the beginning of this text we mentioned that he signal received by the majority of the indicators was strong sell; well, now it shifted and almost all technical indicators and moving averages are recommending traders to buy.
A total of nine indicators and all 12 averages are pro-buy, whereas only two technical indicators (STOCH and highs/lows) are neutral. At the moment, there are neither indicators nor averages that suggest the price will fall in the days to come.