Bitcoin Settles Under $610

Two days ago we wrote how the Bitcoin seemed reluctant when it came to hitting the $630 mark. The highest point it reached in the past few days was $629.43, while today we can see it stabilised under the $610 threshold. It’s current trading price is $607.93, a change that is actually positive if the movement of the past 24 hours is analysed.

In addition to the price, another thing that has changed is the signal received by the indicators. Namely, today most of the indicators and the averages are sending a strong buy signal, meaning the price may start improving during the day.

Additionally, there are some interesting news that deserve traders’ attention. Most of the Bitcoin-related events in the past two days have been positive, a situation that paves the path for price jumps in the future.

Bitcoin Chart and Indicators Analysis

The Bitcoin chart shows that even though constantly moving up and down, the Bitcoin in general has been stabilised under $610. It did manage to breach the mark and hit $612.64 yesterday evening, but most of the time its price is several points over $605. The lowest point recorded in the past 24 hours was $608.16, while the current trading price changed from $607.93 to $608.19. The overall 24-hour price change is 0.40%.

Other relevant information related to price movement is the volume. With a much higher value two days ago, the volume has noted a decline. Today its value is $64,693,500, a number that possibly predicts price drops rather than jumps.

Lastly, the market cap of the bitcoin today is $9,690,689,779. This number is virtually unchanged from Monday’s value, which isn’t surprising considering the fact the price hasn’t changed too much either.

In contrast to the volume, both technical indicators and moving averages predict price improvements with the strong buy signal they send.

Seven out of 11 indicators are pro-buy, while only one is pro-sell. There are additional three neutral indicators. It should be noted that Williams %R and CCI show signs that the Bitcoin is overbought, meaning the high demand may boost the price a bit. Similarly, the majority of moving averages (10 out of 12) send a strong buy signal as well.

iPhone Users Introduced to the Option of Sending Bitcoin via Messages

Tech giant Apple has approved Circle for iMessage, meaning iPhone users will now be able to send Bitcoin directly via messages. Owners of iOS 10 devices can send and receive social and personal payments in Bitcoin directly, without any fees. In addition to supporting almost all US and UK banks, Circle has promised support for EU banks in near future.

In other news, Bitcoi mining giant Bitmain launched second pool. The new pool is open-source and it won’t charge fees until the end of 2016. The mining pool was launched through the Bitcoin block explorer BTC.com.

Several other interesting pieces of information include the unusual new home Bitcoin miners have found in Tibet as well as the fact that Bitcoin is believed to push electricity revolution

What will come out of these concepts remains to be seen, but certainly they are both worth following. Especially the second one, considering that electricity revolution would affect every person that uses electricity on daily basis, regardless their stance on the cryptocurrency.

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