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Bitcoin is on the incline in the last 7 days
In the past 24 hours, the price of Bitcoin has increased by 0.2%. It's price has dropped by -1.4% in the last 7 days. The current price per BTC is $86,756.06 AUD.
Using the Bitcoin price chart
The candlestick chart above shows Bitcoin price in Australian dollars (AUD). This live chart tracks the price of Bitcoin back to 2013. Using the timeframes, you can select the period you'd like to see and see the live price of Bitcoin today.
Understanding how to read a candlestick chart is crucial when performing crypto technical analysis. Candlestick charts track the daily price movements of an asset and are often used to track patterns in the market.
To learn more, check out our guide to candlestick charts on Swyftx Learn.
Bitcoin price volatility
Historically, Bitcoin's price has been quite volatile compared to traditional assets like stocks and commodities. The Bitcoin price fluctuates based on a number of factors. Often, bad news will cause the price to drop. For instance, when China announced that it would be banning Bitcoin mining, the price of BTC dropped by over 30% in a couple of days.
It must be noted, however, that following every Bitcoin crash, the market has bounced back stronger than ever. After the historic Bull run of 2017, the market crashed 88%. This caused many people to question if Bitcoin would ever recover. Between the crash and the All-Time High of 2021, the price increased by 2,500%.
View our full list of crypto prices in Australian dollars.
The different types of Bitcoin wallets
There are several types of Bitcoin wallets. When you buy Bitcoin from a trading platform like Swyftx, it is automatically stored on your behalf in what is referred to as an exchange wallet. From there you can transfer to an external wallet such as a browser or app wallet (i.e. MetaMask), software wallet or hardware wallet. A hardware wallet is a physical device that stores crypto offline (i.e. is not connected to the internet). These types of wallets are often considered to be more secure than wallets that are connected to the Internet as it reduces the threat of online theft.
Related: Discover how to create a Bitcoin wallet.