Getting started with Bitcoin trading? Here’s a Bitcoin to USD price chart and a guide to understanding what it means.
The Bitcoin price chart above has been sourced from bitcoincharts.com and shows the current Bitcoin to USD exchange rate on the Bitfinex (USD) exchange.
At the time of writing, Bitfinex was the highest volume Bitcoin to USD exchange. Keep in mind that the exchange rate can differ depending on which Bitcoin exchange you use, so it’s best to review a few different exchanges before deciding where to trade your Bitcoin.
Understanding the Bitcoin Price Chart
The Bitcoin chart above is known as a candlestick chart. It displays historical data for the past 60 days, indicated by the dates along the x-axis at the bottom of the chart. The Bitcoin price in USD is displayed down the y-axis to the right hand side of the chart. At the time of writing, these values ranged from 420 to 680 USD.
To the top left of the chart you will see the abbreviations Op, Hi, Lo and Cl. These apply to the last full day of trading (i.e. yesterday). They indicate the price (USD per Bitcoin) that the market Opened at and Closed at, as well as the Highest and Lowest price that Bitcoin traded at during that day.
How to Interpret the Candlestick
Candlestick charts are helpful because they give us a visual indication of the trading that took place in the market that day.
Where the Bitcoin price rose during the day (closed higher than it opened), the candlestick will appear green.
Where the Bitcoin price fell during the day (closed lower than it opened), the candlestick will appear red.
In both cases, a thin line will connect the highest and lowest prices for the day, while the candle (the thick bar) will connect the opening and closing prices for the day.
This DiscoverHow guide does not constitute financial advice.