Bitcoin (BTC) price is digesting the previous week’s sales well for now and is rising further northwards in the final hours of trading. Moreover, Bitcoin dominance can prevent the formation of a new annual low for the time being.
Currently, Bitcoin (BTC) price is $68,146.9 with a market capitalization of $1,287,916,412,904, putting it in position 01 of the global cryptocurrency rankings.
History of bitcoin
Satoshi Nakamoto, a pseudonymous person, became known in 2009 as the creator of Bitcoin. As it turned out, his creation of a blockchain-based currency that ensures maximum transparency and security at the same time as simultaneously being scientific was regarded as highly “INCREDIBLE” and caused a great deal of turbulence during ICO pricing!
A Bitcoin transaction is verified and added to the system through the mining process, which releases it into circulation.
Bitcoin (BTC) price prediction
Currently, there is a level of resistance at $70555.9, the next resistance will be $73,446.7, and a strong support level will be $64,635.0 and afterward $61,744.1.
If Bitcoin (BTC) price fails to break through this resistance level, the price may retest the current support levels before further descending to the next support level of $64,635.0. A break of this level may lead Bitcoin to move down further to $61,744.1.
It’s apparent that Bitcoin (BTC) price is likely to move upwards from its current level, with bullish indicators showing. The price of BTC will likely move towards $73,446.7 in the near future.
Bitcoin Current updates
- Breaking more records, Bitcoin (BTC) and US Dollars drop to new lows:
A wide correlation exists between Bitcoin (BTC) and the US dollar as of today. At press time, Bitcoin’s price stood at $68,172.14 per BTC. With Bitcoin’s current performance, the US dollar has been heavily impacted. In this bullish scenario, there is no doubt that the US government should brace up for the US dollar to crash even more than it does currently.
- Bitcoin price closes near $70K, causing investor confidence to reach a record high:
According to Glassnode’s on-chain report, investor confidence is at a peak as price and on-chain metrics for Bitcoin continue to improve. The report noted that supply dynamics have remained strong, and that activity remains well below bull market highs, suggesting that there is still room for growth.