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According to market data, on September 13, the price of Bitcoin fell from US$10,580 to US$10,258. Before falling 3% in 9 hours, on-chain data showed that miners may be selling BTC, which pushed Bitcoin to the top again. , causing many investors to have doubts about the Bitcoin market. So, what is the latest price of the Bitcoin market? Below, the editor of the currency circle will tell you in detail what the latest price of Bitcoin is.

 What is the latest price of Bitcoin?

The price of Bitcoin before the publication of this article was RMB 72,579.17, which means that the price of 1 Bitcoin in US dollars is 10,658.83 US dollars, the highest price in 24 hours is 10,677.2 US dollars, the lowest price in 24 hours is 10,225.22 US dollars, and the 24-hour transaction volume is 16.596 billion US dollars. Summary of U.S. dollar and Bitcoin prices over the years:

1. In 2016, the opening price of Bitcoin was as high as $975.92;

2. In 2017, Bitcoin’s opening price reached a maximum of $19,497.4;

3. In 2018, Bitcoin’s opening price reached a maximum of $17,527;

4. In 2019, Bitcoin’s opening price reached a maximum of $13,016.23;

5. In 2020 (as of September 14), Bitcoin’s opening price reached a maximum of $12,388.85;

 Will the price of Bitcoin continue to rise?

Judging from historical data, in the early stages of the bull market in 2019, Bitcoin also rose for seven consecutive weeks, which kicked off the entire bull market last year and pushed the price of Bitcoin to soar and hit a high near $14,000. If history repeats itself, this could push Bitcoin's price up sharply again this year, perhaps even more than last year and possibly even hitting all-time highs.

However, market analyst Zack
Voell said that in the history of Bitcoin, after seven consecutive weeks of gains, there will always be a slight correction in the eighth week, which seems to indicate that Bitcoin will not close higher this week. Although according to the relationship between supply and demand, the price of Bitcoin should rise as the supply decreases, this may not necessarily happen immediately at the halving.

Crypto.com Chief Operating Officer Eric Anziani believes that the Bitcoin block reward halving is the most important event in the cryptocurrency industry at present, which will have a significant impact on the entire industry.

He said on Twitter that the mining reward for Bitcoin miners will be halved from 12.5 BTC to 6.25 BTC, reducing the inflation rate from 3.68% to 1.8%, which will give a long-term boost to the price of Bitcoin.

He also added, “Historical halvings have led to increases in Bitcoin’s medium and long-term prices, but after each halving, short-term price fluctuations will also occur unpredictably.”

The recent increase in the market capitalization of stablecoins has also been cited as a factor driving Bitcoin prices higher. According to Tokenview stablecoin data, the current circulation on the USDT chain is approximately 8.607 billion. Tether issued an additional 582 million USDT in the past week.

The Bitcoin MACD indicator has also recently reversed to bullish, and in both 2017 and 2019, this indicator predicted significant gains in the cryptocurrency market.

Research firm Fundstrat Global Advisors wrote in a report last week that it expects Bitcoin to reach $14.350 within the next 12 months. Its co-founder Thomas
Lee said Bitcoin’s year-to-date performance has proven that it not only benefits from the halving but also serves as a “solid risk asset and hedge.”

Through the above introduction, I believe everyone has an understanding of the latest price of Bitcoin. As we all know, the most important principle of investment is to follow the trend. Investors can only make safer profits by following the direction of the market. They cannot see that the market is obviously The market was going to rise, but I insisted on buying short. The market was going to fall, so I placed a long order again. Therefore, when investors conduct Bitcoin transactions, they must understand the Bitcoin market and judge the trend of Bitcoin through the Bitcoin market, so as to increase the probability of making money from investment.