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Bitcoin

As The World Gears Up to Celebrate International Mother’s Day, Bitcoin (BTC) Demonstrates Itself as Mother of All Coins

Bitcoin price is surging exceptionally well in the cryptomarket leaving no traces of doubts in the mind of investors until now. This market scenario leads to Bitcoin being a market leader and a forerunner when taken into consideration the space of the cryptomarket where there are a considerable number of crytocurrencies running the same race of price surge and price hike.

But what do we see? The other coins are not even near to the price, Market Capitalization, Return on Investment and trading volume of what BTC has and has had since its inception; there has been no coin having such a close competition to where BTC stands in the market space.

Although, there is no influence by the factors and variables of the market leader and its pace of movements, pump and dump on the whole.

BTC bullish trend seems to be an ‘in-fashion’ objective:

As per the chart and data by the Trading View on 11th May at 09:10 UTC time is as follows:

Bitcoin chartBitcoin, currently priced at $6773.62 in the cryptomarket with having a Market Capitalization more than $120 billion. The 24h volume is 23,105,355,360 USD with a Circulating Supply of 17,693,875 BTC. The Return on Investment presently is 4909.16% and is also growing if the price keeps on showing such movements; it is likely to cross 5000%. It is going to be a life turning point for the investors who will be overwhelmed with their investments in Bitcoin.

The above chart shows the 3-hour movement of Bitcoin price which demonstrates that the price in between the said time went as high as crossing $6800. Currently, it is 2.32% more than the initial price $6620 of the stated time frame. There is no boundary of the percentage hike that Bitcoin price movements are showcasing.

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Technical Measurements:

Bitcoin Technical Analysis

  • At the current price mark, MACD of the 12 period EMA, it is slightly below the signal line. It is because of many price marks observed in a single day. However, it is not likely to be an alarming situation of a sudden bearish market.
  • MACD in the above chart also demonstrates that due to the rapid fall and rise BTC has been overbought or oversold as per the trading price and price movements.
  • The Relative Strength Index is around 43 which seems to be a balanced point and not inclining towards the extremes.

However, Investors while spending their colorful weekend and celebrating ‘International Mother’s Day’ should even feel ‘Better’ about their investments in Bitcoin.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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