BTC is a coin of platform Bitcoin. Its current price is around $42,900 by writing, trading lowest in 2022, with a market cap of 841 billion dollars.
Bitcoin fell briefly under $43K on Wednesday; however, Thursday was a complete bloodbath for BTC and almost all the altcoins. While BTC was down approximately 9%, ETH and other altcoins were kissing double-digit falls in %.
Many on-chain analysts are connecting this crash with the electricity outage in Kazakstan as the country is on #2 in mining hash power. Therefore, this led to an 18% fall in the mining power of bitcoin and which might have led to the crash. Further, since this is the first time bitcoin is back to these levels since September 2021, it would be interesting to see if bitcoin is able to hold these levels as it held $30K in the fall of last year.
BTC Coin Market Analysis
It has a max supply of 21,000,000 coins worth around $42,448.74 with a market volume of 44 billion dollars, whereas the market capitalization is 841 billion dollars at writing.
BTC Price Prediction
The stock trading community is growing more polarized with the recent dip in crypto prices, and people are stuck choosing between whether to buy or sell their coins. It seems like there are a little bit of both interests here, with half of the people discussing buying and half talking about selling.
At the 12H time frame, BTC prices were rising, and just after they had touched all-time high prices, they started falling. Finally, after a long downfall, it broke a symmetrical triangle and is holding above good support, and then we can expect a price reversal from this position.
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Here are some of the best exchanges to buy BTC.
Nothing in this article is financial advice, and you should only invest in the market you believe is suitable for your portfolio.