Bitcoin Weekly (7/25/2022)

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

Bitcoin (BTC) started off the week strong riding the positive momentum from the prior weekend and at one point surpassed the $24K mark. The world's largest cryptocurrency was hit with a lot of resistance which drove BTC back down towards a more comfortable $22K range for much of the week after riding the coat tails of Ethereum which had been surging as of late. Bitcoin ended up slightly in the green by most measurements, based on the release time of these articles it was slightly down Monday to Monday.

Last week Telsa sold $936M worth of Bitcoin or around 75% of its holdings but held onto Elon Musk's beloved Dogecoin. From a technical standpoint it looks as though we may be at an "oversold bottom" looking at the relative strength index (RSI) which can be good news to the upside.

This should be an interesting week for Bitcoin and could be a bit bumpy with lots of potential price moving news. There are a slew of earnings reports to be released this week including Google and Microsoft on Tuesday, Meta on Wednesday and both Apple and Amazon on Thursday. You can also expect potential interest rate hike announcements from the Federal Reserve's FOMC Wednesday along with other macro-level economic news throughout the week. This includes Second-quarter U.S. gross domestic product data on Thursday which will be dug into to see if the country is in the midst of a recession.

The Crypto fear and greed index, highlighted below, is at 30 up a big ten points from last week despite the recent run up and moves out of  "extreme fear" to just fear for the first time in awhile. 

Ten Must-Read Bitcoin Articles

Bitcoin Price Statistics (as of 7/25/2022, 7:00pm EST)

  • Bitcoin Price = $21,671

  • Last Week = $21,816

  • Weekly High = $24,160

  • Weekly Low = $21,504

  • Market Cap = $419,042,311,200

  • Market Cap Dominance = 39.806%

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

Bitcoin Fun Fact of the Week

If you invested $10K in Bitcoin ten years ago you would have around $3.4M today!

Bitcoin Mining Statistics

  • Miners = 5,535,089

  • Hashrate = 224.99 EH/s

  • Difficulty = 27.69T

  • Emission (24hr) = 956.3 BTC

  • Circulating Supply = 19.1M (91.%)

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

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