The world’s largest cryptocurrency, Bitcoin, has seen a surge of 0.64% in the last 24 hours, taking the market cap to 442.04 billion USD.[0] Each BTC token is trading for 22,950 USD and is nearing the 23k mark for the second time in the year.[1] The 24-hour trading volume has seen an increase of 12.43% as compared to the previous day.[1]
The global crypto market cap stands at 1.09 trillion USD with a total crypto volume of 61.20 billion USD.[2] Bitcoin’s dominance has decreased by 0.25% and is currently at 41.21%.[3]
The price of Bitcoin has been trading within a tight range between $22,000 and $23,000 for the last two weeks, with strong resistance at the upper end of the range.[0] The price of Bitcoin has been steadily increasing over the last few days, hovering around the $21,632 mark. This suggests that the asset is likely to maintain this level even if there is a slight decrease.[0]
Amidst its latest price change, Bitcoin remains 68.33% below its all-time high of $68,789.63, which was achieved back in November 2021.[4] The asset is now 4.82% off its five-day high and is 3.65% higher than its five-day low of $21460.09.
Analysts are very bullish in the long-term prospects of Bitcoin, with some touting that BTC will use the $21.5k support as its springboard.[5] Many in the crypto community are viewing this dip as a potential “buy the dip” opportunity, as even the biggest players in the market are responding to this dip with increased activity.[6]
Santiment (@santimentfeed) also noted that Bitcoin’s BTC/USD price has risen 3.75% to $22,973.00 in the past 24 hours, and is contrary to its negative trend over the past week, where it has experienced a 0.0% loss.[7] Analysts remain optimistic in its long-term prospects, with many believing that the asset will reach its all-time high of $69,045.00 in the near future.
0. “Bitcoin price analysis: BTC Rallies by Over 4 percent after a bullish run – Cryptopolitan” Cryptopolitan, 15 Feb. 2023, https://www.cryptopolitan.com/bitcoin-price-analysis-2023-02-15
1. “Bitcoin Price Today: Bitcoin Increases By 0.24% In The Last 24 Hours” CoinGape, 13 Feb. 2023, https://coingape.com/bitcoin-price-today-bitcoin-increases-by-0-24-in-the-last-24-hours
2. “Bitcoin Price Today: Bitcoin (BTC) Jumps By 0.64% In The Last 24 Hours” CoinGape, 7 Feb. 2023, https://coingape.com/bitcoin-price-today-bitcoin-btc-jumps-by-0-64-in-the-last-24-hours
3. “Crypto News Live Updates Feb 11: Mina Price Skyrockets By 20%, Bitcoin Price Declines” CoinGape, 11 Feb. 2023, https://coingape.com/crypto-news-live-updates-feb-11-mina-price-skyrockets-by-20-bitcoin-price-declines/
4. “Will It Be a Bloody Valentine’s Day for Bitcoin? AI Predicts Price” Watcher Guru, 13 Feb. 2023, https://watcher.guru/news/will-it-be-a-bloody-valentines-day-for-bitcoin-ai-predicts-price
5. “Bitcoin Tries To Find Some Love Before Valentine’s Day” Bitcoinist, 10 Feb. 2023, https://bitcoinist.com/bitcoin-loses-22k-handle/
6. “AI’s Valentine Visions: Bitcoin’s Price Predicted For February 14th” TronWeekly, 14 Feb. 2023, https://www.tronweekly.com/ais-bitcoins-price-predicted-for-february-14th/
7. “Bitcoin’s Price Increased More Than 3% Within 24 hours” Benzinga, 15 Feb. 2023, https://www.benzinga.com/markets/cryptocurrency/23/02/30930667/bitcoins-price-increased-more-than-3-within-24-hours