After opening at $232.40 BTC/USD stayed flat for most of the day, oscillating between $234 and $231 dollars per coin. been quoted at $232.30, just 10 cents below yesterday’s open. . Volatility
continues to decline. The 20 day Average True Range is now down to only $5.60, a far cry from the $20 dollars average seen during most of January. This is the lowest value for the ATR 20 since October of 2013, although to be fair this isn’t an apples to apples comparison because it counts the range in pure dollar terms, not percentages. Bitcoin has traded above the current price for most of 2014 so it’s natural that the ATR also printed higher values in dollar terms.Economy
| Total BTC | 14,181,050 BTC |
|---|---|
| Market Capbased on latest prices | 3,320,776,479 USD or 2,935,477,350 EUR or 11,985,485,951 PLN or 2,133,348,237 GBP |
| Transactionslast 24h | 108,913 |
| Transactionsavg. per hour | 4538.04 |
| Bitcoins sentlast 24h | 1,250,861.38 BTC |
| Bitcoins sentavg. per hour | 52,119.22 BTC |
Blocks
| Count | 357,241 |
|---|---|
| Blockslast 24h | 136 |
| Blocksavg. per hour | 5.67 |
| Difficulty | 48,807,487,245 |
| Next Difficultyin 1607 blocks | 48,731,706,058 |
| Network HashrateTerahashs/s | 348835.14 |
| Network HashratePetaFLOPS | 4430206.27 |
Today, May 20th, is the ”anniversary” of the start of a major BTC rally. After a long period of low volatility, prices surged 10 percent higher on May 20th 2014. The daily range spiked to a massive $49.87 dollars and the breakout on that day sparked a BTC rally that lasted for 12 days and saw gains of over 50 percent in the value of bitcoin.
Periods of low volatility are usually followed by breakouts and high volatility. But this doesn’t necessarily mean that the breakout will be to the upside or that it will happen today. The conservative course of action would be to wait for the market to play its hand first. The two lines in the sand currently stand at $250 on the upside and $200 on the downside.
