Bitcoin (BTC) continues to recover from this years low,set earlier this month.The market cap now stands at US$177.78 billion,
with US$3.69 billion traded on exchanges in the past 24 hours with a current dominace of 42.83%.
QUICK OVERVIEW :
The rate at which new bitcoins are created is algorithmically cut in half roughly every 4 years (210,000 blocks).
Bitcoin has gone through two halvings to date; in November 2012, and again in July 2016.
Since blocks are generated every 10 minutes on average, and starting at 50 new bitcoins per block when the system was launched in 2009,this creates a very well-defined supply curve.The stability of Bitcoin's monetary policy a key differentiator versus other crypto assets.
Age 9yrs 1mo
Marketcap (current) $177.1B
Price (USD) $10,482
24hr Change (%) -4.12%
24hr Trade Volume $6.9B
All Time High $20,089
All Time High Date 2017-12-17
% down from ATH 47.82%
Transactions per day have continued to decline since December. The transaction highs largely mirror the bitcoin price chart itself.
Individual transactions have also declined due to batching,where one transaction is sent to many addresses at once instead of each transaction being sent individually.
Since Bitcoin ALL TIME LOW, is has continued to increase slowly.
On the 60min chart, bitcoin present a BULLISH PENNANT FLAG PATTERN. With its consolidation which started on the 26th of Febuary 2018, respecting the diagonal support. Consolidations might likely continue as the flag is almost conpleted before measured move up to a target of 1.618fib extension which is $12k+.
More signals are given looking closely at the volume has it has greatly decreased.
Another indicator used to comfirm this bullish move up is the WILLIAM ALLIGATOR.
The GREEN EMA(LIPS) crossing the other 2 EMAs gives another strong signal for a bullish move which is called ALLIGATOR IS AWAKENING.With all these signals setting in, BTCUSD will likely see a move up to a target of $12k plus.
HAPPY TRADING GUYS