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Bitcoin (BTC) After Crossing $12,000 To Abut The Newest High Record Of $13,000

BTC Price Leaves The Crypto Community Astonished

Bitcoin (BTC), the father of the crypto market, is acing towards the newest highs of the year, leaving behind all the past records to make a new one in its name of glory. It was 4 days back on 22nd June when Bitcoin crossed $10,000 to let the community know that Bitcoin is Back! Nonetheless, it is since the past 24 hours that Bitcoin is persistently trading above $11,000. It was then when the investors and the community believed that the Bull Run would be growing, and Bitcoin gained its lost faith.

However, at 3:17 UTC as on 26th June Bitcoin crossed $12,000 leaving behind all the old predictions for the year to indicate a massive bullish market ahead. The previous Bull Run that has left the traces of being a benchmark will be well hit this time.

The current market statistics reveal the whole picture of the crowned head BTC:

  • The current trading price of Bitcoin is $12534.15 at 5:37 UTC.
  • The total Market Capitalization is 224,437,723,717 USD.
  • The 24h volume at the same time is 28,660,347,562 USD.
  • The current ROI that the coin fetches is more than 9000%.

BTC Price Chart:

Bitcoin Price Chart - 26 June
Bitcoin Price Chart

BTC to USD Price Comparison:

As per the above 4-hour chart, BTC price has escalated and crossed $12,000. It was around 1:13 UTC when the price was at a stable pace just to indicate the lull before the storm. And there it was when BTC price aced by 7.65% when it went as high as $12829.86 in just 4 hours to let the community celebrate and giving the investors an opportunity to invest in Bitcoin rather than the tradition investing avenues like fiat, gold, and our very own the stock market.

BTC was trading at $12003.44 and currently is 4.4% more than the said opening of the contemporary massive Bull Run.

Technical Indicators:

  • The 6-day SMA crosses over the 20-day SMA to peak as the prices have been growing since then.
  • The RSI remains above 40, which signals a normal magnitude of the recent price change and not just pure speculation or an overvaluation.
  • Bracketing the 20-days SMA, the widening of the Bollinger Bands indicates great volatility ahead.

BTC Price Prediction:

Correcting the previous prediction of BTC reaching $12,000 by the end of 2019; now is the time for BTC to break the barriers aiming $15,000 in next few months and $20,000 by the end of the year. Also, important to highlight that if the present Bull Run is marked as one of the hits, BTC will cross its all-time high $20,000 to aid investors to go long as there will be no skies for BTC price to create a limitation thereupon.

However, the current trading price may face resistance and support at $12850 and $12300 respectively to gain the right momentum and trade with staunch support.

Conclusion:

BTC price to let traders and investors go long with the evergreen glory for worthwhile returns in their portfolio.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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