Price Analysis

Bitcoin (BTC) Ascends Consistently In The Past 7 Days; Anticipated To Rise Higher In The Next One Month

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Bitcoin is a form of Digital Currency which was founded over 11 years ago by one or many individuals under the pseudonym, Satoshi Nakamoto. It is a blockchain based peer-to-peer decentralized network based on a consensus protocol allowing hassle-free transactions without any third party intervention. The advent of the currency has revolutionized the Cryptocurrency world and has given rise to several new forms of tokens with the same technology as an underlying principle. The making or breaking of many cryptocurrencies is dependent on the price of the Bitcoin which is expected to show an upward movement in the next few quarters.

Current Statistics

Bitcoin Price Chart (25.03.2019 - 25.04.2019)As on April 25, 2019, at 12:44:00 UTC, the circulating supply of the coin has reached 17,664,225 BTC which is same as the total supply, the ROI is recorded as 3,920.75%, the price is trading at 5,432.91 USD, and 24h volume has reached 16,120,287,448 USD. With a market cap of over 95,968,151,541 USD, BTC tops the CoinMarketCap list of top 100 cryptocurrencies currently trading in the market. With the increasing acceptance of cryptocurrencies by major financial institutions and business houses, the price of the coin is expected to grow higher in the coming quarters.

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Comparison

In the past 90 days, the lowest price of BTC was recorded at 3,391.02 USD and the highest was over 5,642.04 USD. The pattern has been the same in the past 30 days also with the lowest being 3,977.81 USD and highest being 5,642.04 USD. The coin is showing an upward trend of over 35% since last one month. On March 25, 2019, at 07:34:00 UTC, the price was trading at 4,023.53 USD, the 24h volume was recorded at 8,776,783,660 USD, and the market cap had reached 70,847,680,827 USD. In the last 7 days, the lowest had reached as much as $5,233.34, and the highest was 5,642.04 USD. The Cryptocurrency has supporters from around the globe and is going to revive its position very soon.

Prediction

The grand Bitcoin phenomenon has served as an inspiration for many developers and crypto enthusiasts to support the evolution of the currency wholeheartedly. The best is yet to come, and it is not very far away. The businesses around the globe have already started creating customized models for money transactions. Major retail players, gaming websites, supply & logistics partners have started integrating cryptocurrencies as part of their payment or reward system owing to the increasing community of followers, developers and mining enthusiasts. 2019 has been named as the year of the cryptocurrencies by many believers in this market. Hence, we can expect the price of BTC to reach as high as $ 8,000 by the end of 2019. From a 2-year perspective, the price can be expected to reach 20,000 USD, and it has the potential to reach over 30,000 USD to 50,000 USD in the next 5 years.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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