Bitcoin continued its incredible run last week, surging another roughly 10% to close around $740. The price has now jumped over 65% since late-May.
Elizabeth is the Director of Trading at itBit. She manages itBit's OTC agency trading desk, working closely with OTC traders through settlement. Elizabeth has been trading and performing market analysis in the bitcoin space since 2013. Prior to joining itBit, she worked at Noble Markets helping to design and build the firm's proprietary crypto-asset marketplace. She also performed extensive primary research on bitcoin and emerging digital currency markets while at ARK Investment Management. Elizabeth holds a bachelor's degree in Physics from Swarthmore College.
Bitcoin continued its incredible run last week, surging another roughly 10% to close around $740. The price has now jumped over 65% since late-May.
Positive momentum in the bitcoin market continued last week, giving fresh legs to the recent rally. The price rose another 10%, closing the week around $580. The price of bitcoin is now up nearly 30% since May 27th.
Our monthly Bitcoin OTC Market Recap infographics are loaded with key OTC data ranging from trading volumes to spot price analysis. OTC market insights from our Director of Trading, Elizabeth Hamilton, are also provided below.
Last week started off with bearish readings in key indicators and saw the price of bitcoin fall below its 50-week EMA. The indicators turned bullish mid-week and a divergence formed across the 50, 100 and 200 day EMAs. The end result: a nearly 25% increase in price, peaking around a 21-month high...
The bitcoin price failed to rally last week despite key indicators being bullish. When price does not follow indicators, a breakdown is likely and that’s exactly what happened. Bitcoin price dropped below $440, ultimately settling in the low-$440s.
The price of bitcoin was fairly flat last week, down less than a percent from the May 9th close. Bitcoin price dropped 3% on May 10th, from over $460 to $447, before rebounding and consolidating in a tight range the rest of the week.
The price of bitcoin price rebounded to rise 1.7% over the past week. The price fell below $442 to start the week, six days after bitcoin set a 2016 closing high of $467 in April. This was a major resistance level and selloffs are normal following an initial attempt to break above key resistance.
Our monthly Bitcoin OTC Market Recap infographics are loaded with key OTC data ranging from trading volumes to spot price analysis. OTC market insights from our Director of Trading, Elizabeth Hamilton, can be found below.
Crypto asset trading involves a high degree of risk. The crypto asset market is new and unproven and may not grow. Currently, there is relatively small use of crypto assets in the retail and commercial marketplace in comparison to relatively large use by speculators, thus contributing to price volatility that could adversely affect an investment in crypto assets. In order to participate in the trading of crypto assets, you should be capable of evaluating the merits and risks of the investment and be able to bear the economic risk of losing your entire investment. No material at this site should be considered as an offer by itBit to sell or solicitation by itBit of any offer to buy bitcoin or other crypto assets.