BitcoinAverage Blog

bitcoin price news and analysis

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This week the price of bitcoin retraced from last week's temporary high at $451, moving down to a low $410 on February 23. As of writing this, the market sits at $438, a local top dating back to $410. Price has been gradually creeping up an upward sloping trend line, attempting to retrace the $40...

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Satoshi Roundtable 2

In the weekend of 21-22 February 2016, a Bitcoin Roundtable meeting took place in Hong Kong. The meeting came before the Satoshi Roundtable 2, which is scheduled to take place this weekend (Feb 26-28).

In attendance, to the Hong Kong meeting, were representative of miners holding up to 80% of the hash power, core developers and entrepreneurs from the Bitcoin ecosystem.

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Since last week’s price report, bitcoin went up 12% to $448, but is now trading at $435 on Bitstamp as of writing this. A correction from the top was only natural at this level.

At $400, consolidation lasted a couple of days, before breaking out on February 17, and taking off to the next significant resistance level at $420. Similarly, here, the trend was intent on recapturing highs, and did not take long consolidating before breaking past the January 18 spike resistance in a series of consecutive green candles.

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The video opens with a bulky guy lying on top of a pile of dollar bill bundles. Smiling, he runs his left thumb through bills in a bundle he has on his right hand and waves it.

A presenter cuts in. With different variations of the Bitcoin logo and other forms of relevant graphics running in the background, the presenter takes the viewers through what money has been in the past.

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This week on February 9, 2016, price launched off $370 in what looks to be a reinvigorated attempt at claiming back lost high levels. Consecutive green candles have broken above $390. It is still too early definitively say price is off to the races, as $400 and $428 levels are yet to be broken. As...

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