Bitcoin Weekly (4/25/2022)

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Written by
2 years ago
In community: Cryptocurrency and Blockchain(7b7f)
Topics: Bitcoin, Crypto, Cryptocurrency, Personal finance

Welcome to another edition of Bitcoin Weekly, here we will get you up-to-date on everything Bitcoin (BTC).  Last week the "king of crypto" was down again following the rest of the months previous downward trend.

With a midday rally bitcoin has rose above the $41K mark once again but is still down about $700 from our article last week.  The Federal Reserve's hawkish stance regarding interest rates has investors spooked, especially in regards to risky plays like cryptocurrencies.  China is having a coronavirus outbreak which could further damage supply chains which are already struggling threatening the economy further.  Crypto ETF outflows could well hit a record this month and interest in the crypto space is waning with fewer and fewer searches being made on the internet. 

BTC is finding support and resistance levels around $3K on either side of $40K with support around $37K and resistance around $43K but is nearing a dreaded "death cross" from a technical analysis.  Bitcoin and other digital assets continue to follow stock price movements, especially technology stocks who are falling consistently since the start of the war in Ukraine.  Watch for BTC to follow the lead of many of the biggest tech stocks which report earning this week including Amazon, Apple, Google (Alphabet), Microsoft and Twitter.

Despite all the bearish sentiments including the Fear and Greed Index, on-chain analytics look bullish for bitcoin with the supply not really moving much in the last twelve months indicating that holders still have a very favorable long-term view.

Bitcoin Price Statistics (as of 4/25/2022, 4:00pm EST)

  • Bitcoin Price = $40,143

  • Last Week = $40,825

  • Weekly High = $42,736

  • Weekly Low = $38,464

  • Market Cap = $739,440,542,550

  • Market Cap Dominance = 39.07%

  • All-Time High = $69,044.67 on November 10, 2021

statistics provided by CoinGecko

Ten Must-Read Bitcoin Articles

Bitcoin Fun Fact of the Week

Why do you see bitcoin using an uppercase "B" sometimes and a lowercase "b" at other times.  The uppercase "B" is referring to the actual ledger that stores transaction data while the lower case "b" refers to the cryptocurrency used .

Bitcoin Mining Statistics

  • Miners = 5,531,459

  • Hashrate = 201.87 EH/s

  • Difficulty = 28.23T

  • Emission (24hr) = 956.3 BTC

  • Circulating Supply = 19.02M (90.6%)

statistics provided by MiningPoolStats

Crypto Greed & Fear Index

index provided by Alternative

Where to Buy and HODL Bitcoin (Referral Links)

What is Bitcoin?

Bitcoin (BTC) is a decentralized digital cryptocurrency.  Bitcoin was invented by the person or persons under the pseudonym Satoshi Nakamoto as described in the Bitcoin Whitepaper released on October 31, 2008.  The original cryptocurrency began trading in January of 2009 and could be transferred in a peer-to-peer fashion implemented using open-source software.  The transactions are recorded and stored on a public ledger called a blockchain.  Only 21 million Bitcoins will ever be minted with one million being owned by its creator(s).

For more on Bitcoin, please read What is Bitcoin? [A comprehensive Guide to Understanding Bitcoin] on Publish0x written by Mr.CryptoWiki

For information on the Bitcoin whitepaper, please read I Finally Read the Bitcoin Whitepaper on Publish0x written by CryptoMasterMiner

Find Bitcoin on Bitcoin.org, Reddit, Twitter, Instagram, Facebook

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Avatar for CryptoMasterMiner
Written by
2 years ago
In community: Cryptocurrency and Blockchain(7b7f)
Topics: Bitcoin, Crypto, Cryptocurrency, Personal finance

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