How Much Is 1 Bitcoin (BTC) Is Worth Today?

Stay on update with the latest Bitcoin price, market capitalization, and insightful analysis report to track the value of BTC today

May 19, 2023

Blog Bitcoin Market Analysis & Report Summary

Curious in researching about Bitcoin News today, Bitcoin Live Price, Bitcoin Price, Bitcoin Share Price, Bitcoin Price Prediction, Bitcoin Market Cap, and Bitcoin Price Chart?

If you are eager in hunting for live updates on Bitcoin prices and if you fall in the above category, then this news article is exclusively presented for you!

“Bitcoin Value Today”

As Per Current Update On March 19, 2023

“Bitcoin (BTC) Price Today In INR”: 2,221,464 INR (-1.95%)

“Bitcoin (BTC) Price Today In USD”: 26,834.66 USD (-1.92%)

Slight Gains For Bitcoin As Market Sentiment Rises

On May 17, U.S. President Joe Biden expressed his confidence in ending the standoff with Republicans to avoid a default, which boosted market sentiment. Bitcoin rose 1.5% thereafter, reaching over $27,400 on the day. Bitcoin's recovery may have also gained momentum on Tether announcing it will deploy 15% of its monthly operational profits to buy Bitcoin.

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Overall, the price of Bitcoin is up 65% on year-to-date, but still down 60% from its record high of $69,000 in November 2021.

Bitcoin Price Must Overcome Stronger Dollar

Bitcoin risks dropping in May thanks to a flurry of strong U.S. economic data earlier this week, which puts June's interest rate hike back on the map. For instance, after two flat months, the country's industrial output jumped 0.5% in April, beating expectations of 0.1% growth.

Meanwhile, retail sales increased by 0.4% in April after a 0.7% decrease in the previous month. This suggests that consumer spending held up despite facing economic headwinds. The prospects of another rate hike lifted U.S. Treasury yields, which, in turn, boosted appetite for the U.S. dollar.

Dive deeper into Bitcoin's price dynamics and gain a more comprehensive understanding by exploring this news article from the original publisher!

Published By: Cointelegraph

Note: By reading the original publication, you can stay informed about the latest trends, market sentiment, and technical analysis, enabling you to make well-informed decisions in the ever-changing world of Bitcoin.