Bitcoin is on the incline in the last 7 days
In the past 24 hours, the price of Bitcoin has increased by 2.1%.
It's price has risen by 2.4% in the last 7 days.
The current price per BTC is $57,283.05 AUD.
There is a current circulating supply of 19,438,418 BTC.
Using the BTC (AUD) price chart
The candlestick chart above shows Bitcoin price in Australian dollars (AUD). This chart tracks the price of Bitcoin back to 2013. These price charts give traders the ability to select custom timeframes and view daily pricing candles of their favourite assets.
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 they 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 questions if Bitcoin would ever recover. Between the crash and the All-Time High of 2021, the price increased by 2,500%.
Overview
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Analysis