Bitcoin Weekly (6/27/2022)

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

Holding steady! With Bitcoin (BTC) holding its price over the last week it feels like a win after weeks and weeks of red candles. The first green candle week since May was a welcome site, even if the "King" of crypto wasn't up very much after falling in the past day or so but is still near $21K. 

It appears that "whales" are buying up Bitcoin every time it falls below the $20K mark forming a strong resistance support level there. BTC is still on track to record its worst June in history, however, any sort of price stabilization or uptick will start giving investors a small dose of confidence at this point which would be a welcomed relief.

The Crypto fear and greed index, highlighted below, is at 12 up three points from last week and remains in "extreme fear" currently a sign that investors are very nervous about Bitcoins price direction. 

The broader stock market fell this morning and Bitcoin followed suit as the strong correlation to the NASDAQ composite remains. Looking at technical analysis, Bitcoin does look like it can reach the $22K mark if the stock market can climb with $24K not out of the question but it is still not out of trouble unless it can rally close to the $28K mark which at the moment seems unreachable unless we get a bevy of positive news and a reverse in the stock market.

Ten Must-Read Bitcoin Articles

Bitcoin Price Statistics (as of 6/27/2022, 5:00pm EST)

  • Bitcoin Price = $20,919

  • Last Week = $20,664

  • Weekly High = $21,481

  • Weekly Low = $19,864

  • Market Cap = $396,998,569,672

  • Market Cap Dominance = 40.598%

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

statistics provided by CoinGecko
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Bitcoin Fun Fact of the Week

In 2013, James Howells, who lives in Wales, threw out a hard drive with 7,500 bitcoins on it. When he realized how much the value of Bitcoin had shot up in recent years, he went looking for the drive. Now, he’s trying to get his local city council to allow him to excavate the landfill in an attempt to find the drive. He’s claiming to offer a portion of the proceeds if the city allows him to look through the trash.

Bitcoin Mining Statistics

  • Miners = 5,662,965

  • Hashrate = 220.27 EH/s

  • Difficulty = 29.57T

  • Emission (24hr) = 831.3 BTC

  • Circulating Supply = 19.08M (90.8%)

statistics provided by MiningPoolStats

Crypto Fear & Greed 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, Cryptocurrency, Crypto, Finance

Comments

Holding on to wins after a week is fun for me, I've done those conditions too, and I've made a decent profit. ha ha ha

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User's avatar Marques
2 years ago
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