Bitcoin

Bitcoin 24 hr Analysis; Just When it Hit $9000 Mark- The Newest High

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  • Dadiani Syndicate is instructed to purchase 25% of total Bitcoin (BTC) supply.
  • The upsurge in the price of Bitcoin (BTC) is likely to be expected.

Bitcoin (BTC) is facing a huge price drop in the cryptocurrency market. Yesterday, the coin touched its highest of 2019, but soon got caught up in the selling pressure. Presently, the coin is dealing at $8293.

A shred of recent news reported that a wealthy investor had asked Dadiani Syndicate to purchase 25% of total Bitcoin (BTC) supply. Dadiani Syndicate is a peer to peer network where people deal in cryptocurrency. The said action will widely affect the market, and most likely to push Bitcoin (BTC) in upward direction quoted the firm’s founder, Eleesa Dadiani.

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Let’s take a look at the Bitcoin (BTC) from the last three months.

Bitcoin price chart taken from Trading View, at 10:02:38 UTC:

Bitcoin price chart - may 31

BTC Price Statistic:

Particulars

Statistics
Rank

1

Price

$8293 USD
ROI

6003.03%

Circulating Supply

17,732,925 BTC
Market Cap

$146,427,932,952 USD

24 hr Volume

$28,536,868,357 USD

The last three-month chart is reflecting a progression in the coin in tremendous volume. Along with a few ups and downs, the coin managed to keep it high. In the last 90 days, the hike in price is marked at $9,008.31. However, the low was at 3,733.75 USD. Today, the blow in the chest of Bitcoin (BTC) is not taken well by the market.

Bitcoin Value Comparison:

If we compare the last one month’s price of Bitcoin (BTC), the trend will indicate bullish stimulation. On 6th May 2019, the price was dealing at $5755.91 and today, at 10:28:29 UTC, $8293. The increase in price is noted by 44%.

Talking about the intraday drop, people who keep a close watch on the weekly chart will agree with that the hiccups in the market are usual. The recovery will soon take place in the currency.

Bitcoin Price Prediction and Conclusion:

Purchasing 25% of the total supply will undoubtedly affect the price of Bitcoin (BTC) at large. Also, the momentum in the market is indicating toward the recovery in the price.

In the coming months, the price of Bitcoin (BTC) is likely to go above $10,000. In the coming five years, the price could go exceed $20000. Altogether, the investment will be fruitful for the long term and short term investors.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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