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Bitcoin Stuck at $450; Still Present in Global Media

Well, many days have passed since Craig Wright announced that he was indeed the person behind the secret identity of Satoshi Nakamoto and global media still seems to be mesmerised by the story. Regardless whether portals are supporting his thesis or opposing his claims, the Australian’s name is often mentioned in reputable sites alongside other interesting Bitcoin theories.

During these days, however, the price per coin not only didn’t improve, but it declined instead. Two days ago the Bitcoin was settled around the $450 mark and then fell for $5 at $445. Today, we can see it once again stuck at $450. However, the thing that has changed over the last two days is the signal received by the indicators; namely, two days ago we saw a strong sell signal and today most of the indicators are pro-buy, possibly predicting a price jump over the weekend.

Wright Changes His Mind; Bitcoin Conference Consensus Held

It’s safe to say that Bitcoin is everywhere. First, an event that attracted media’s attention was the change of mind of Australian Craig Wright, who after announcing that he would provide extraordinary proof that he was Bitcoin’s creator changed his mind and said that he didn’t have the courage to prove his claim. Nevertheless, Quartz has interviewed two close collaborators of Nakamoto who claimed that they were certain that Wright can be Satoshi and that he had the expertise and knowledge to invent the world’s most popular cryptocurrency.

Aside from Wright, another important event took place and that’s the Bitcoin conference Consesus 2016 in New York. Inspired by the conference, BBC has dedicated a whole article on whether the Bitcoin still mattered and Yahoo Finance has listed the top five biggest announcements related to the cryptocurrency and the technology behind it. Some of the include Wright, the Bitcoin computer and and the support of banks.

A Price Decline Followed by a Price Improvement

Only a glance at the price chart shows how the price has been moving in the past 48 hours. First, it’s been settled at the current mark of $450 and then it fell at $445. Nonetheless, early morning today it went back at $450, a movement that goes perfectly with the strong sell signal by the indicators. Considering the fact that several hours ago the price was really low, the lowest value reached in the past 24 hours was under $445 or, more precisely, $444.58. The day’s high, however, is much improved $450.25; plus, this was seen before the current trading price of $450.91 was noted.

The market cap remained under $7 billion with a value of $6.98 billion, whereas the 24-hour volume is $51,142,800. Even though the price change in the past 24 hours has been positive 0.81%, it can be generally said that the current situation isn’t too positive for the cryptocurrency price wise.

Nonetheless, the technical indicators and the moving averages don’t seem to agree with this claim since almost all of the send a strong sell signal. Only one indicator (ADX – 52.164) is neutral and all the others 10 indicators and 12 averages are recommending traders to invest in the Bitcoin and predict price jumps.

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