Yesterday(2/13 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $47481, its lowest as $46250, its highest as $48335 its closing as $47266. Bitcoin reached a high at 03:00 with low trading volume after the start of Saturday, and then fell and attempted to rebound after reaching the low at 12:00, but failed to break through the 100MA line of the 15 minute chart and ended down -0.45%.
Looking at the 1-hour chart, you can see that it rebounded after supporting at 100MA. On the daily chart, trading volume continues to decline and is undergoing adjustments, and this movement is expected to continue through today since it is Sunday.
There was another good news in the cryptocurrency market by which Bloomberg said that the Morgan Stanley’s $150 billion Counterpoint Global investment unit is considering placing a bet on bitcoin. The company is already investing indirectly by holding 11% of MSTR's stock, which has 80,000 bitcoins, and might be first commercial bank of US which is holding bitcoin.
In another news, the Mayor of Miami City in the U.S. announced three goals related to cryptocurrency which is paying salaries of city workers with cryptocurrency, collecting city taxes with cryptocurrency, and incorporating cryptocurrency into the city's assets. It will also be the first public institution in the US to use cryptocurrency in real life, and it can be seen that there is a possibility that it will be expanded to other cities and states in the US.
Before institutional investors entered the cryptocurrency market, while the bitcoin price rises, the hacking news of a very small crypto exchange often caused a sharp decline in bitcoin price. But, to the contrary in the current market, while bitcoin price falls, a certain good news has kept supporting bitcoin price. Certainly, you can feel that the atmosphere in the market is different from the past.
However, one concern is that altcoins have risen excessively, and some altcoins have exceeded their peak in 2018, and the time to realize their profits is expected to come soon, and caution is needed.