Bitcoin Price 22/10
The price of Bitcoin is: 6611 USD / 5575 EUR
In today's analysis I used a logarithmic chart which is more accurate for measuring overbought and underbought zones. To identify the zones I used PitchFork . The graph is based on weekly candles and shows huge similarities in the timeframe from 2014.
Disclaimer: Do not care about PitchFork too much - there is not enough data for the PitchFork to be accurate. I use it as a guide. The most important are the Support Lines and triangle downtrend lines. Also, you have to be aware of the volatility in 2014 (was much higher) and the liquidity on the market increased since then. It means, lower volatility expectations.
The recovery can take another few months before we start to see a clear uptrend.
The market leads derivatives on BitMEX with 12.18% of all the trades/24 hours. Korea ~5.8% on trades/24 hours. Euro 0.19% markets are <2% together/24 hours. The volume of Euro 0.19% markets is stable. We can see a growing interest in Bitcoin 0.29% in Europe.
Bitcoin 0.29% Market capitalization: $112,796,368,627 USD
Bitcoin 0.29% exchange volume in the last 24 hours $3,462,747,775 USD
1. BitMEX $624,931,292 12.18% Market share on Derivatives BTC/USD
2. Bithumb $297,360,165 5.80% Market share on Exchange BTC/KRW
3. Coinbit $208,991,668 4.07% Market share on Exchange NEO/BTC
10. CoinsBank $79,485,291 1.55% Market share on Exchange BTC/EUR
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