With A 244% Increase In Trading Volume, Is Bitcoin About To Break The 42K Barrier?

Bitcoin's BTC/USD price has increased 0.75% over the past 24 hours to $41,875. Over the past week, BTC has experienced an uptick of over 7.0%, moving from $39,126.97 to its current price. As it stands right now, the coin's all-time high is $69,045.

The chart below compares the price movement and volatility for Bitcoin over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

price_chart

The trading volume for the coin has increased 244% over the past week while the overall circulating supply of the coin has increased 0.14% to over 18.99 million which makes up an estimated 90.42% of its max supply, which is 21.00 million. The current market cap ranking for BTC is #1 at 795.29 billion.

supply_and_vol

The 42K barrier is still a strong resistance level that Satoshi's coin keeps bouncing around. A few moments ago it managed to hit it, but again it dropped below the barrier. Everything is in place for BTC to imminently break this barrier, the future will tell. 
Non-financial Advise.

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Posted In: CryptocurrencyMarketsMoversTrading IdeasBitcoinBZI-CMLCrypto
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