Bitcoin up today: +2% for its birthday
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Bitcoin up today: +2% for its birthday

By Federico Izzi - 31 Oct 2019

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On the day that Bitcoin’s whitepaper celebrates eleven years, the price of BTC is up: today it marks a +2%.

Bitcoin is in positive territory on this historic day, despite the temporary drop in the night below the technical and psychological threshold of 9,000 dollars.

It is a day in perfect balance, 50:50 between the positive and negative cryptocurrencies. Among the positive crypto today there is just bitcoin that rises 2%, and it is the best of the top 10, as opposed to the queen of altcoins, Ethereum, which oscillates around the parity, same as Ripple.

bitcoin up today
Source: COIN360.com

Bitcoin is up today, although with lower intensity compared to the past few days, making it one of the best weekly performances since last Thursday’s levels.

After 7 days, bitcoin scores a performance that in the top 15 is only inferior to what Bitcoin Satoshi Vision (BSV) and TRON (TRX) are doing, both up 30%.

The best of the day among the top 100 is Molecular Future (MOF), an unknown token that in recent days with its latest performance has won the top 100 and now ranks 91st with just over 47 million dollars of capitalisation and a rise of 20%.

On the opposite side, the worst of the day is Noah Coin (NOAH) who collapsed by 61%, and lost positions down to 70th. Among the big ones, the most evident drop is for Iota (MIOTA), who loses 3%. Also Verge, a token in 73rd position but definitely more famous, loses 3%.

The total market capitalisation is doing very well and, despite the uncertain times, rises by 3 billion dollars, approaching 250 billion dollars. 

The dominance of bitcoin remains tied to 68%, Ethereum returns close to 8%. Despite the difficulties of recent days, XRP is consolidating its position at 5.2% of the market share.

bitcoin up today
Source: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC) price today

Bitcoin tries to consolidate prices above the $9,000 threshold, a technical and psychological level that in case of holding could attract new purchases and go to more ambitiously target the $10,400, which in addition to being the highest levels reached during the weekend and last month, it is also an area where the bearish trendline passes, containing the weak trend that connects the top decreases since last June, a level that therefore becomes crucial in the medium to long term.

Downwards, it is necessary not to go below $8,600.

bitcoin up today
Source: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

Ethereum fluctuates at the levels of the last 5-6 days without giving particular indications except that the bullish push of the weekend at the moment does not find the necessary confirmation to be able to aspire to reach $200, technical and psychological area that since the beginning of October has seen the rejection of bullish attacks twice. 

For Ethereum it becomes necessary to find the strength to go beyond $200 and then aspire to return to $225, the highest of the last three months.

Downwards, Ethereum would suffer if prices were to fall below 160-165 dollars. 

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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