(VIANEWS) – The bitcoin market fell during Thursday’s trading session, as we continue to witness a lot of pessimism throughout the world. The bitcoin market has been no exception, especially since the US dollar rose again during trade on Thursday when 10-year rates fell below 1.3 percent. Bitcoin believers think that other markets have nothing to do with it, but the fact is that as soon as bitcoin was embraced by institutions, it became just another commodity.
DailyForex reported on the fact that as 10-year rates fell below 1.3 percent, the US currency strengthened, causing bitcoin to fall, as shown in the graphic. Furthermore, bitcoin has been sliding versus the dollar every time it has attempted to rally in the previous several weeks. The 200 day EMA appears to be a big resistance barrier, and the fact that we haven’t been able to break above it in the previous several weeks tells me that we are more likely than not going to see this market eventually break over the $30,000 level pretty shortly. What will be the reason? At the end of the day, it doesn’t really matter.
Bitcoin (BTC-USD) Cryptocurrency is currently on bearish momentum by 12.56% in the last 30 days. At 06:40 EST on Monday, 19 July, Bitcoin (BTC-USD) is at $31,375.0000.
Today’s last reported volume for Bitcoin is 17008793557, 66.14% below its average volume of 50236132039.73.
All-Time High and Low
Bitcoin’s current value is at $31375, 51.52% below its all-time high of $64805 on Wednesday, 14 April.
Bitcoin’s current value is at $31375, 46236.3% above its all time low of $64805 on Saturday, 6 July.
Market Cap and Supply
Bitcoin’s current market cap is at 588473055125. The total supply is 21,000,000.00, maximum supply is 21,000,000.00, and the circulating supply is 18,760,637.00.
Bitcoin (BTC-USD) Range
Concerning Bitcoin’s daily highs and lows, it’s 5.67% up from its trailing 30 days low of $29,692.0000 and 13.49% down from its trailing 30 days high of $36,267.0000.
Currently, Bitcoin (BTC-USD) has 2920281 Twitter followers and 3199370 Reddit subscribers.
As of now, on Github, there are 29418 forks, 55657 stars, and 3827 subscribers.
Bitcoin’s last week, last month’s, and last quarter’s current volatility was a negative 0.70%, a negative 0.44%, and a positive 3.80%, respectively.
Bitcoin’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 1.92% (last week), 3.13% (last month), and 3.80% (last quarter), respectively.
Other News About Bitcoin (BTC-USD)
Crypto insiders posit Bitcoin price floor around $30,000 level. According to Bloomberg Quint on Friday, 16 July, “Konstantin Richter, chief executive officer and founder of Blockdaemon, a blockchain infrastructure provider, holds out hope for institutional demand, arguing Bitcoin would have to drop below $20,000 before institutions start questioning “the validity of the space.”
More news about Bitcoin (BTC-USD).