Two days ago the Bitcoin has noted a drastic drop in value and traded in the territory between $560 and $570. That was a pretty serious decline considering the fact that seven days ago the cryptocurrency for a short period of time managed to hit the $600 threshold. On the other hand, however, three days ago the Bitcoin saw a weekly low of $560.47 and therefore this current value is neither extremely good nor extremely bad.
This Wednesday we can notice that things have been relatively silent and calm in the Bitcoin world. There isn’t so much talking about the infamous hack attack at Bitfinex and/or its plan to recover by cutting 36% of each customer’s account.
Therefore, considering the fact there aren’t any important news price-wise to be shared with our readers, we will focus on more technical information such as the price chart, volume and technical indicators’ signal.
1.90% Price Improvement within 24 Hours
In order to get a real image of the price movements of the Bitcoin in the past few days, traders must pay attention to the price chart featured on our site. The chart shows how the Bitcoin has been moving in an upward direction in June and then it reached stability through July and August. While everyone was waiting for it to consolidate its power and hit $700, the hack attack happened and hurt Bitcoin’s value for tens of dollars. Then, the Bitcoin has once again managed to improve and hit $601.16 on 10th of August, only to drop below within hours.
This introduction brings us back to the 24-hour analysis of the price chart, which shows an obvious price growth since yesterday’s afternoon. If on Monday the price was between $560 and $570, today it’s been stable over $570 and it almost hit $580 too. The day’s low was recorded yesterday and it was $565.49, whereas the day’s high was promising $579.76. This change of value notes a 1.90% 24-hour improvement.
Not surprisingly, price jumps always positively affect the market cap, which is today set at $9.15 billion. The volume, however, has dropped at $55,436,100, causing headache to traders who were hoping to see further price improvements.
When it comes to the indicators and their signal, it should be noted from a mainly neutral signal several hours ago, the things have shifted and now there’s a strong buy signal. A total of eight indicators and 11 averages are pro-buy, while only three indicators and one average are pro-sell. With such a sign, traders may have a reason to hope for jumps in Bitcoin’s value, even though the volume tells a different story.
Hackers Steal Cyberweapons from NSA and Demand 1 Billion Bitcoins to Give it Back
The negative trend of Bitcoin being related to hacking attacks continues with the latest being related to cyberweapons owned by US National Security Agency (NSA). Reportedly, the hacking group The Shadow Brokers have stolen the hacking tools and now ask for 1 million Bitcoins in an auction in exchange for the valuable information.
In more positive news, Business Insider reports that blockchain and Bitcoin companies have raised $290 million in the past six months. This shows that investors are still fond of the cryptocurrency and the technology behind it, despite the negative events that don’t seem to slow down.